The Times: François Austin on energy diversification in Saudi Arabia

Oct 24, 2017

François Austin, Partner and Global Head of Oliver Wyman’s Energy Practice, is quoted in The Times on Saudi Arabia’s call for foreign direct investment in its Vision 2030 programme.

The reform programme comes at a time when the need for Saudi to diversify its economic reliance away from oil is pressing.

"You have a population that has grown from about four million in 1960 to 32 million last year," said Austin. “The country is consuming somewhere in the order of 15 per cent of its oil and gas. Demand for power is going to continue to go up and so you have to find a way of not ending up consuming all of what you are producing.”

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