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FINANCIAL NEWS
Saudi oil exports in Jan, Feb stand at 423m barrels
11 Mar 2013
(MENAFN) Saudi Arabia’s total oil exports in January and February reached 423 million barrels, according to Fahad bin Juma, an economic consultant, reported Xinhua News, citing Al Riyadh newspaper.
Bin Juma said that the total value of the exported amount stood at USD46.6 billion.
Meanwhile, domestic oil consumption, which stood at 120 million barrels, made up 22 percent of the Kingdom’s output in the period.
It is worth noting that Saudi Arabia must enhance its public transportation system and promote the use of solar energy in order to lower its local consumption of oil, according to Bin Juma.
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