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FINANCIAL NEWS
Saudi Arabia consumes 4m bpd of oil
29 Nov 2012
(MENAFN) Saudi Aramco’s executive manager of power systems, Ahmad Al-Khiwaitir, stated that consumption of oil in the Kingdom grew to 4 million barrels per day (bpd), reported Arab News.
He warned that the level is one of the highest in the world, calling for lowering both power output and consumption, and to look for other power sources.
He noted that since 2000, the company has adopted the electricity efficiency program, with the aim of lessening annual power consumption by 2 percent in the company’s premises.
In order to achieve this target, Aramco established 2GW plants to increase power efficiency to 75 percent, and to produce steam and electricity.
It is worth noting that the average amount of individual oil consumption in the Kingdom is double the global consumption rate, according to international statistics.
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