Saudi Green Hydrogen Plan Won’t Erode Oil’s Dominance
(Bloomberg) -- Saudi Arabia is building the world’s biggest green hydrogen facility, but oil will continue to be the kingdom’s main business after the plant starts operating in 2025. The $5 billion development will use renewable energy to produce hydrogen equivalent to as much as 15,000 barrels of oil a day, Ahmad Al-Khowaiter, chief technology officer of state energy firm Saudi Aramco, which isn’t involved in the project, said at a conference last week. The country plans to increase its production capacity for crude oil to 13 million barrels a day from 12 million.
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