The kingdom's energy, economy, trade and finance ministers will be a part of the committee, headed by Crown Prince Mohammed bin Salman
Saudi Arabia plans to form a higher committee for hydrocarbons, headed by Crown Prince Mohammed bin Salman, according to the state-run Saudi Press Agency.
According to the SPA, the decision was approved in a cabinet meet chaired by King Salman.
“The committee will be a reference for all hydrocarbon issues and everything relating to them and a representative of the state’s rights and linked to them,” the statement on SPA noted.
The new committee – The Higher Committee for Hydrocarbon Affairs – will also have the kingdom’s energy, economy, trade and finance ministers as members.
The cabinet meeting on Tuesday was the first ever held in Neom, Saudi Arabia’s $500 billion planned city on the Red Sea coast.
According to SPA, King Salman also planned to “spend some time in rest and recreation” while he was there.