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Dubai (Platts)–26Nov2012/351 am EST/851 GMT

Saudi Arabian oil minister Ali Naimi Sunday called for the rationalization of the kingdom’s domestic energy use as a senior energy official warned that oil consumption was growing at ‘a frightening level.” 

“The kingdom uses around 2.5 million barrels of oil equivalent to produce $1,000 of domestic income, compared with an average 1.3 million to produce the same unit of GDP,” the official Saudi Press Agency quoted Naimi as telling an electricity and water conference in Riyadh.

“At this rate, energy consumption will double by 2030 which requires a highly efficient rationalization program with the participation of the public and private sectors and all citizens in order to reduce consumption,” he added.

http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/7284877

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