GE Sees Saudi Energy Sales Doubling as Turbines Cut Oil Use

General Electric Co. expects to double energy revenue from Saudi Arabia in the next five years by increasing sales of gas power turbines, curbing the amount of oil needed locally to produce electricity.

With oil prices around $100 a barrel, Saudi Arabia and other oil producers in the Middle East will try to free more of their crude for exports rather than burning it to generate electricity, GE Vice Chairman John Krenicki, who heads the Fairfield, Connecticut-based company’s Energy Infrastructure division, said in a June 1 interview.