SAUDI ARABIAN TANKER CASE MAY BE SENT TO ARBITRATION

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP75-00149R000600090072-1
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: November 16, 2016
• Document Release Date: March 17, 1999
• Sequence Number: 72
• Publication Date: December 14, 1954
• Content Type: NSPR

NEW YORK
BALD TRIBUNE DEC 1 Approved For Release 2000/05/24: CIA-RDP75-00149
STATINTL
Saudi Arabian Tanker Case
May Be Sent to Arbitration
The Saudi Arabian govern-
ment announced yesterday that
its dispute with the Arabian
American Oil Co. over the tank-
er agreement between the gov-
ernment and,. ristotle Sates
On all be submitted to ar-
1 ra ion if a "mutually satis-
factory" settlement is not
reached by Jan. 15.
Aramco has disputed the
tanker agreement as a violation
of its concession with the Saudi
Arabian government signed in
1933. The tanker agreement,
signed last Jan. 20, would give
Onassis tankers preference in
transporting Saudi petroleum.
Fred A. Davies, chairman of
the Aramco board, confirmed
the arbitration arrangement
after it was announced by
Mohammed Surur El Sabban,
Minister of Finance and Nation-
al Economy in the Saudi Ara-
bian government.
Mr. Davies said that "we In-
CPYRGHT
tend to seek a solution that wilil
be satisfactory both to the Saudi'
Arabian government and to our-
selves, but if that fails we will
turn to the arbitration method
as a means of reconciling the
difference." .
On Sunday the Saudi govern-
ment announced it would stand
by'the tanker agreement despite
pressure from seven govern-
ments and from independent
tanker operators to cancel it as
a form of discrimination that
could spread to other oil-pro-
ducing nations. There also have
been accusations that Mr.
Onassis obtained the agreement
as a result of bribing Saudi offi-
cials. Mr. Onassis has vigorously
denied the charges.
Under arbitration Aramco and,
the Saudi government would
each select one arbitrator. A
referee would be selected by
mutual agreement of the two.
Approved For Release 2000/05/24: CIA-RDP75-00149R000600090072-1