SAUDI MERGER TO CREATE WORLD'S BIGGEST OIL FIRM
Saudi Arabian Marketing & Refining Co. (Samarec) will be merged into Saudi Arabian Oil Co. (Aramco) to form the world's largest integrated oil company. Both are owned 100% by the Saudi government. Aramco is the world's largest oil producer, with current output of 8 million b/d. Current productive capacity is said to be about 9 million b/d, although plans call for this to be increased to 10 million b/d by 1995.