Saudi King Salman bin Abdulaziz Al Saud fired its oil minister Ali Naimi, who had been the kingdom’s oil minister for more than 20 years. Moreover, the oil ministry was renamed the Ministry of Energy, Industry and Mineral Resources. Former health minister Khalid al-Falih was appointed as the country’s new energy minister.
Saudi Arabia will use its full capacity to stabilize oil demand, Falih said.
According to him, Saudi Arabia does not plan a shift in its oil policy and is to maintain its role as the most reliable energy supplier on the international markets.
Khalid al-Falih was the chairman of the state oil giant Saudi Aramco. On Saturday, he succeeded Ali Naimi as the head of the newly created Ministry of Energy, Industry and Mineral Resources. It was created as part of a plan to transform Saudi Arabia's economy to reduce its dependence on oil.
