ARAMCO CAPACITY MAY HIT 9.6 MILLION BARRELS A DAY

ARAMCO CAPACITY MAY HIT 9.6 MILLION BARRELS A DAY

Hisham Nazer, Saudi Arabian oil minister, said Friday that state oil company Aramco's oil production capacity will reach 9.6 million barrels a day by the end of this year.

Mr. Nazer was speaking at the inaugural Euro-Arab lecture held in London over the weekend.He said earlier that non-adherence had emanated from members' dissatisfaction at the distribution of market share.

He said the new accord had given an "almost satisfactory share to everyone."

"There is therefore not such a strong impulse to overproduce," he said. The minister also said Aramco's oil output capacity will reach 10 million b/d within 1994.

He did not, however, specify what time next year this capacity level would be reached.

On Wednesday, ministers from the Organization of Petroleum Exporting Countries agreed to a six-month output ceiling of 24.5 million barrels a day to run from October.

Within the overall ceiling, Saudi Arabia agreed to freeze its production at 8.0 million b/d. Mr. Nazer said this did not involve a change in Saudi policy over protecting its market share but was purely a question of price.