VOL. XXXVI

NO. 18

1-FEBRUARY-1993

SAUDI ARABIA

Saudi Aramco Budgets $16bn for 1991-95 Production Capacity Expansion

Saudi Aramco has budgeted a total of $16bn for the expansion of oil production capacity between 1991 and 1995, according to Dr. Henry Azzam, Chief Economist of the National Commercial Bank of Saudi Arabia. In a paper presented to the recent First Annual Middle East Petroleum and Gas Conference (MEPGC) under the title "Growing Importance of Gulf States in World Oil...