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Saudi Aramco’s Quest to Become the World’s Biggest Oil Consumer

  • Company plans to refine up to 10 million barrels-a-day by 2030
  • Aramco refineries already process 38 percent of its output
Exclusive: Inside Look At The Saudi Aramco Oil Company
Photographer: Simon Dawson/Bloomberg
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Saudi Aramco is well known as the world’s top crude exporter. If all goes to plan, it may also become the biggest user of the fossil fuel.

More than a third of Aramco’s oil is currently fed into its fully-owned and joint venture refineries, according to its bond prospectus. The company plans to double its refining network to handle as much as 10 million barrels a day by 2030, locking in a friendly buyer for the kingdom’s crude.