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Saudi Arabia Sultan appoints son as new Energy Minister

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The Sultan of Saudi Arabia, Salman has appointed a new Energy Minister who is his son Abdulaziz, who has been a long-term member of the Saudi delegation to OPEC and he was appointed replacing Al-Falih. 

A source from OPEC revealed that Al-Falih had “never been enthusiastic about an IPO for Aramco,” which could be part of the reason he was removed from the top oil job in the Kingdom Al-Falih lost his position as chairman of the board of Aramco but retained his position as the head of that ministry.

 Recently, Riyadh has raised its Aramco IPO-related activity. It is expected that the King would split the Energy, Industry and Mining Ministry into two separate sections, with one dedicated fully to energy. 

 

Source Oilprice.com
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