Saudi Arabia plans to stop using crude oil for power generation
according to the report of oilprice station on January 25, on Monday, argaam, Saudi Arabia's main financial portal, quoted Saudi energy minister Prince Abdulaziz bin Salman as saying that Saudi Arabia is trying to replace oil power generation with solar and gas power generation
Prince Salman said at a meeting to elaborate Saudi Arabia's energy strategy that as part of the "sustainable hydrocarbon demand" plan, Saudi Arabia will strive to replace oil power generation that is still in use with solar power generationArgaam pointed out: "in view of the positive impact of the plan on the national economy and reducing the waste of national finance, it will be listed as one of the most important plans of Saudi Arabia."
despite Saudi Arabia's continuous assurances, the country's economy is diversifying and reducing its dependence on oil. Replacing oil with solar power will enable Saudi Arabia, OPEC's largest oil producer and actual leader, to place large orders in December last year and January this year. The improvement of total factor productivity will play a greater role in exports. Enhance Saudi Arabia's influence in the global oil market and help it earn more revenue from crude oil sales