Sector News

Saudi Aramco gets new supreme council headed by deputy crown prince

May 1, 2015
Chemical Value Chain
A 10-member supreme council for state-run oil company Saudi Aramco has been created by Saudi Arabia.
 
The company, which is headed by the country’s deputy crown prince, revealed the changes in a statement.
 
It also provided details of the company’s annual meeting in Seoul, South Korea, last week.
 
The agenda included a briefing by Saudi Oil Minister Ali al-naimi “on the recent dissolution of the Supreme Council for Petroleum and Mineral Affairs and the creation of the Supreme Council of the Saudi Arabian Oil Company.”
 
A spokesman said:”The council is chaired by HRH Prince Mohammed bin Salman Al Saud, who is also Deputy Crown Prince, Minister of Defense, Chairman of the Royal Court and Special Adviser to the Custodian of the Two Holy Mosques.”
 
According to reports, the Saudi-owned Al Arabiya television channel said Saudi Arabia’s Supreme Economic Council had approved a restructuring of Aramco which included separating it from the oil ministry.
 
Source: Energy Voice

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