Saudi Arabia set to burn record amounts of crude oil for power generation

In this interview to Anthony DiPaola from Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, comments on the record amounts of crude oil that Saudi Arabia is expected to burn in order to run its power plants and meet the demand for air-conditioning as the coronavirus pandemic forces many Saudis to cancel their summer holidays abroad.

Electricity Generation by Fuel Source in Saudi Arabia

Data Source: BP Statistical Review of World Energy

According to Dr Nakhle, Saudi Arabia, as well as the rest GCC countries, can simply import more gas or burn more crude in power generation. The second option is more likely and easier since the region has been doing this for years and decades and there is plenty of oil around today.

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