Supply and distribution of electricity are undertaken by a private firm, Barbados Light and Power, under government concession. Production in 2000 totaled 740 million kWh. Consumption was 688.2 million kWh in 2000. Installed capacity in 2001was 166,000 kW. Fossil fuels meet 100% of energy demand (petroleum roughly 95% and natural gas the remainder). The world oil crisis of the mid-1970s initiated an active search for commercial deposits of oil and natural gas. Limited pockets of natural gas were discovered, and oil was found in St. Philip Parish. Daily oil production in 2002 was about 1,200 barrels; natural gas production was 28 million cu m (988 million cu ft) in 1998. Reserves of crude oil were estimated at 3.2 million barrels at the end of 1999. Barbados's oil is refined in Trinidad. As of the beginning of 2000, Barbados was planning to privatize its energy companies, including the National Petroleum Corporation and the Barbados National Oil Company (BNOC).