Saudia Seeks to Compete Globally Through a Transitional Leap

saudia
saudia
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Saudia Seeks to Compete Globally Through a Transitional Leap

saudia
saudia

Ghassan bin Abdulrahman al-Shabal, chairman of the board of directors of Saudi Arabian Airlines, has said that the national carrier is broadening its global reach.

Although Saudia went through several years of relative decline in terms of performance, there is currently an insistence to present the airline in its best shape at the local and international levels as part of its transformation plan.

Al-Shabal told Asharq Al-Awsat newspaper that air transportation plays a key role in any economic revival. Therefore Saudia Airlines has a huge responsibility - in line with the Saudi Vision 2030 - in upgrading its services and its competitiveness in addition to reducing costs and growing locally and internationally.

Speaking about the challenges facing Saudia, Al-Shabal affirmed that the carrier is continuously developing services to be unique and attractive to passengers.

He added that infrastructure, such as the expansion of King Abdulaziz International Airport, also plays a vital role in the performance of Saudia.

As for the huge spending of the airline, Al-Shabal told Asharq Al-Awsat that there are no doubt financial concerns but without a decision to purchase more airplanes, which is considered an investment, the company would not be able to improve.

His remarks were made on the sidelines of a graduation ceremony of 115 Saudi youths.

In his turn, Director General of Saudia Saleh bin Nasser al-Jasser showcased some of Saudia’s achievements.

He said that up to one million pilgrims were in 2017 transferred comfortably and offered a package of comprehensive services.

Jasser added that Saudia continues its preparations to move to the new King Abdulaziz International Airport and looks forward to achieving a huge and unprecedented leap in services. 



OPEC+ Panel Stresses Need for Full Compliance with Output Limits

A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
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OPEC+ Panel Stresses Need for Full Compliance with Output Limits

A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)

An OPEC+ panel on Monday stressed the need for full compliance with oil production agreements, ahead of Sunday's separate gathering of eight OPEC+ members to decide on increasing oil output for September.

According to Reuters, ministers from the Joint Ministerial Monitoring Committee, which includes top energy ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, convened online for brief talks.

The JMMC meets every two months and has the power to call for a full meeting of OPEC+ to address market developments if deemed necessary.

"The committee reiterated the critical importance of achieving full conformity and compensation," OPEC said in a statement after the meeting.

Compensation cuts are those that some countries, such as Iraq and Kazakhstan, are being asked to carry out to make up for earlier overproduction.

The JMMC asked countries that are not fully compliant to submit updated compensation plans by August 18.

OPEC, in a post on X late on Friday, said the committee does not hold decision-making authority over production levels, and "its role is limited to monitoring conformity with production adjustments and reviewing overall market conditions."

OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market.

Eight members began to raise output in April and since then have accelerated the hikes. Their most recent decision calls for an oil output increase of 548,000 barrels per day in August.