Aramco Vows $100Bn Spend To Phase Out Crude-Burn, Targets Self-Sufficiency

Saudi Aramco’s CEO says the Saudi electricity sector will phase out direct crude burning. He also sees the company being self-sufficient in powergen by year-end.

State petroleum firm Saudi Aramco plans to spend $100bn over the next 10 years in boosting natural gas production capacity with a view to eradicating the kingdom’s direct burning of crude oil in power plants. In July 2014 Saudi...