Saudi Arabia consumes 1.5bln barrels of oil in 2019

Domestic consumption of LPG fell by 2.5% in 2019

  
Stacked Barrels in front of the sky. Image used for illustrative purpose.

Stacked Barrels in front of the sky. Image used for illustrative purpose.

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Riyadh -  Saudi Arabia’s local consumption of refined petroleum products, crude oil, liquefied petroleum gas (LPG), and natural gas showed marginal annual growth during 2019.

The kingdom’s domestic consumption of petroleum products reached 1.566 billion barrels last year, up by 0.25% when compared with 1.562 billion in 2018, according to official data.

Public consumption, which includes local consumption of all sectors excluding the oil industry, accounted for 88.75% of the total volumes of refined products, LPG, and natural gas consumed in 2019. Meanwhile, the consumption of the oil segment levelled down by 0.6% to around 176.23 million barrels.

Public consumption of petroleum products came at 1.38 billion barrels in 2019, 2.9% lower than the 2018 level.

Refined products consumption

Consumption of refined products dominated 53.7% of total Saudi consumption of petroleum products and gas during 2019, up by 0.56% to 841.16 million barrels.

Moreover, public consumption represented 95% of the total figure, signalling a 2.2% annual rise, whilst the oil industry consumed 43.6 million barrels to post a 22.6% annual decline.

Natural gas consumption

Meanwhile, the kingdom’s consumption of natural gas amounted to 708.25 million barrels last year, compared with 708.67 million a year earlier, of which the public dominated 81.9%, down by 0.3% annually to stand at 579.74 million barrels.

Furthermore, the consumption of the oil segment increased to 128.5 million barrels when compared to 127.3 million.

LPG consumption

Domestic consumption of LPG fell by 2.5% year-on-year (YoY) to stand at 16.71 million barrels from 17.14 million.

Public consumption of LPG went down by 4.8% YoY last year, registering 12.59 million barrels from 13.23 million. On the other hand, the oil industry consumed 4.12 million barrels of LPG, up from 3.91 million.

Earlier, Saudi Aramco raised the per litre prices of Octane 91 and Octane 95 at SAR 1.29 and SAR 1.44, respectively.

Source: Mubasher

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