Saudi Arabia’s oil consumption rises 6.2% in 2006

(MENAFN) A report issued by British Petroleum plc (BP) showed that Saudi Arabia’s domestic oil consumption rose by 6.2 percent to 2 million barrels per day (bpd) last year from 1.89 million bpd in 2005, while its oil production for the international market declined by 2.3 percent during the same period, Arab News reported.

According to the BP Statistical Review of World Energy June 2007, the Kingdom’s natural gas production also rose by 3.5 percent, from 71.2 billion cubic meters in 2005 to 73.7 billion cubic meters last year. However, there was no change in its refining capacity that stood at the same level at 2.1 million bpd.


Referring to oil production in the Middle East, the report pointed out that OPEC producers implemented a new round of production cuts late in 2006, the first in nearly two years. As a result, OPEC output rose by just 130,000 bpd, with gains in the UAE and Iraq offset by reductions in Saudi Arabia, Venezuela and Nigeria.

MENAFN