In keeping Ali Naimi as Oil Minister, Saudi Arabia’s King Salman has given the clearest signal yet that there will be no near-term change in Saudi oil output policy. That message is quite clear. Not so are the structural and leadership changes at Saudi Aramco, where the pieces of the puzzle remain incomplete.
Saudi Arabia’s new king Salman on 29 April issued a series of decrees that radically changed the makeup of Saudi Aramco, which oversees the kingdom’s 10mn b/d of oil production and is as such the world’s biggest oil company in terms of reserves. But as yet there is no clear indication of how the reorganization will impact management of the all-important energy sector. (CONTINUED - 1056 WORDS)