| Saudi Arabia is likely grooming Khalid Al-Falih to replace Ali Al Naimi’s oil minister, as the kingdom prepares for more uncertainty in oil markets. On Wednesday, Saudi King Salman initiated a number of significant changes, including the promotion of Al-Falih as chairman of state-owned Saudi Aramco, a position previously held by Ali Al-Naimi, the 80-year-old oil minister.
Al-Falih, 55, who joined Aramco in 1979, and became its president and chief executive in 2009, now appears most likely to succeed Al-Naimi, given the kingdom’s long-standing tradition of promoting non-royals to the all-important position...............................................Full Article: Source |