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Saudi Arabia looks to finally be reaping the dividends of gas field development. Output from the Wasit gas processing plant is being gradually ramped up to its 1.7bn cfd capacity following March start up. More gas means that less oil needs to be burnt in Saudi power plants (MEES, 1 April), a development that should enable it to maintain oil export levels during the summer months.
While direct burning of both crude and fuel oil was up in May, not surprising given that power demand spikes as aircon use soars in summer, it rose by markedly less than in May last year.
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