CAIRO: Egyptian Minister of Petroleum and Mineral Resources Tarek Al-Molla revealed a new initiative to reduce the price of aviation fuel to 15 cents per gallon with the aim of helping the tourism and aviation sectors overcome the challenges created by the pandemic.
Egypt had previously lowered aviation fuel prices last April to support the tourism and aviation sectors, following the outbreak of the coronavirus disease (COVID-19).
In a statement, Al-Molla said that the initiative would be implemented starting Jan. 21 and would remain ongoing until the end of the year.
The initiative came after a meeting between Al-Molla, Minister of Tourism and Antiquities Khaled Al-Anani and Minister of Civil Aviation Mohammed Manar Enaba, during which they discussed a number of issues related to supporting the tourism and aviation sectors.
Al-Anani said that the initiative would contribute to tourism to Egypt by motivating international companies to increase the number of flights to Egyptian destinations, while Enaba explained the important role of the petroleum sector in supporting aviation traffic through its initiatives and its provision of aviation fuel at all Egyptian airports.
Enaba emphasized that there was full coordination and cooperation between the three sectors of tourism, aviation and petroleum.
DUBAI: Japan’s Ministry of Economy, Trade and Industry (METI) struck its first fuel ammonia cooperation deal with the UAE’s Abu Dhabi National Oil Company (ADNOC).
On Jan. 14, the signing of the memorandum of cooperation took place during a virtual meeting between METI Minister Hiroshi Kajiyama and ADNOC CEO and the UAE’s Minister of Industry and Advanced Technology Sultan Al-Jaber, METI said in a statement.
The two countries also agreed to further advance bilateral cooperation in areas including hydrogen and fuel ammonia. Japan plans to develop its supply chain of blue ammonia in the Middle East by the end of the decade, according to S&P Global Platts.
The UAE is Japan’s second-largest crude oil supplier, accounting for over 30 percent of oil imports right after Saudi Arabia.
READ MORE: Japan receives first shipment of blue ammonia from Saudi Aramco, SABIC
Abu Dhabi is pushing toward a clean energy initiative through ADNOC, which has a new unit that will focus on hydrogen.
“The directorate will also lead ADNOC activities to capitalize on the emerging global market for hydrogen, building on the company’s existing position as a major producer with existing infrastructure, partnerships and customer relationships,” ADNOC said in a statement on Jan. 13.
In September of last year, Japan received its first shipment of blue ammonia from Saudi Aramco, in partnership with Saudi Basic Industries Corporation. The shipment contained 40 tons of high-grade blue ammonia and is meant for use in zero-carbon power generation.