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Saudi oil Minister sacked in government shake-up

Saudi oil Minister sacked in government shake-up

Jeedah: The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia, replaced his long-serving oil minister Saturday as part of a major government overhaul which comes as the kingdom grapples with a slump in energy revenues.

Ali Al Naimi, who held the post of oil minister for more than two decades, was one of the most powerful figures within the OPEC oil cartel.

But recently his influence appeared to have been curbed by the growing power of King Salman’s son Prince Mohammed who has taken charge of economic policy.

Naimi has been replaced by Khaled Al Faleh, previously health minister, who takes the enlarged portfolio of energy, industry and mineral resources, according to a royal decree announced Saturday by state media.