Falih moved aside as Aramco IPO looms
Saudi oil giant's chairman exits as preparations for a partial sell-off limber up
Saudi energy minister Khalid al-Falih was once the man King Salman and Crown Prince Mohammed bin Salman (MbS) turned to when something needed fixing. While serving as Aramco CEO, he was appointed health minister to sort out a crisis in that department. He then became not only chairman of Aramco but also a minister with responsibility for energy as well as for industry and mining. Now, in the space of a couple of days, Falih's role has diminished significantly. He is no longer the Aramco chairman; and the industry and mining responsibilities have been taken away from his ministry. The new Aramco chairman is a former banker, Yasir al-Rumayyan. His appointment marks a new departure: it is the f
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields