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The executive director of the International Energy Agency, Fatih Birol, warned of a severe crisis threatening the European aviation sector due to the interruption of jet fuel supplies from the Middle East. He stressed that Europe faces a major challenge in securing alternatives from the United States and Nigeria to avoid the disruption of air traffic.
The executive director of the International Energy Agency, Fatih Birol, issued a stark warning about the worsening crisis facing the European aviation sector, stressing in statements to CNBC that the old continent is on the verge of running out of jet fuel. Birol revealed troubling details, explaining that Europe was almost entirely dependent on refineries in the Middle East for about 75 percent of its fuel needs planes, but that percentage has now fallen to almost zero. In the face of this extraordinary challenge, European countries are struggling to find alternative sources of fuel, with their eyes set on the United States and Nigeria as potential options to compensate for the severe supply shortages. The international official pointed to the seriousness of the current situation, stressing that the world faces "the biggest threat to energy security in history," in light of the loss of markets to about 13 million barrels oil per day, in addition to serious disturbances in commodity markets. Birol warned that European governments may have to take drastic measures to limit air traffic if they are unable to secure additional sources of jet fuel from alternative countries in a timely manner. These warnings come in light of the complex geopolitical developments that have affected the Strait of Hormuz, the strategic waterway that used to see the passage of 20 percent of oil exports before it was shut down, exacerbating the global energy crisis.
Source: Al-Wehda Al-Arabia News Portal
