Saudi Energy Minister: Lack of investment in refining is behind high fuel prices
Riyadh: Musaed Al-Zayani, Bandar Muslim and Fateh Al-Rahman Yusuf
Yesterday, Saudi Arabia announced a global air travel policy developed in cooperation with the International Civil Aviation Organization of the United Nations (ICAO), which seeks to accelerate the recovery of the global aviation sector, and works to unify procedures and policies regarding health requirements to protect against pandemics.
The proposed international policy framework aims to eliminate confusion related to international travel among passengers, airlines, and government agencies, by creating a single digital source that provides the latest information and developments with clarity and transparency, and sets entry requirements for all participating countries.
This came during the work of the Conference on the Future of Civil Aviation, currently held in Riyadh, which was launched yesterday, under the patronage of the Custodian of the Two Holy Mosques, where Saudi Energy Minister Prince Abdulaziz bin Salman indicated that there is a gap of 60 percent between the prices of crude oil and refined fuels due to Little investment in refining. He said, “Facing the energy challenges in the aviation sector, we are working on both fronts. First, the development of innovative engines and materials, and secondly, the low-carbon fuel that will be the transitional in the future.”
On the other hand, Engineer Saleh Al-Jasser, Minister of Transport and Logistics of Saudi Arabia, launched the National Aviation Strategy, which aims to launch a new air carrier, and investments in the fields of transportation and logistics worth more than $100 billion, transporting 300 million passengers and 5 million tons of goods, and connecting with 250 destinations. around the world.