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Wed 1 Aug 2018 11:45 AM

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Saudi Arabia to form hydrocarbons committee

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 to form hydrocarbons committee

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.

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