Saudi Arabia dismisses longtime oil minister in major cabinet shake-up

Published May 8th, 2016 - 04:02 GMT
Ali al-Naimi, who has been in charge of the kingdom’s oil policy since 1995. (File photo)
Ali al-Naimi, who has been in charge of the kingdom’s oil policy since 1995. (File photo)

Saudi Arabia’s King Salman has sacked his long-standing oil minister in a major cabinet shake-up.

The reshuffle comes just one week after announcing major economic reforms in the country hard hit by the oil price slump.

State media reported that Ali al-Naimi, who has been in charge of the kingdom’s oil policy since 1995 was out of a job. A new Energy, Industry and Natural Resources Ministry would be created and would be headed up by former health minister Khaled al-Falih.

The oil industry has been struggling, with prices hitting 26 euros per barrel in January. This led Saudi Arabia to rethink its economic policy to make it less dependent on crude oil revenue.

The royal decrees also replaced ministers in charge of commerce, the central banks, transport, and social affairs, as well as creating a new Commission for Recreation and Culture.

 

 


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