Saudi Arabia Trades Oil Barrels for Batteries ...Middle East

OILPRICE - Economy
Saudi Arabia Trades Oil Barrels for Batteries
source : OILPRICE ( Middle East ) () 33
As Saudi Arabia redirects more and more crude from the east to the west, where it can export it safely, oil seems to be all that everyone is watching. But not Saudi Arabia itself. In fact, the world’s second-largest oil producer and top exporter has big plans in another area: battery storage. Battery storage has been dubbed the Holy Grail of the energy transition because it helps make wind and solar installations less dependent on the weather. However, while costs have fallen significantly, battery storage remains a financial drag. An even…

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