RIYADH, Saudi Arabia: Saudi Arabia has replaced its long-serving oil minister as part of a larger ongoing government shakeup.
A royal decree on Saturday announced that Ali al-Naimi has been replaced by Health Minister and Saudi Aramco board chairman Khaled al-Falih.
Al-Naimi has long been a pillar of Saudi oil policy, leading the Ministry of Petroleum and Mineral Resources since 1995. Prior to that role he’d served as the president of oil giant Aramco.
Under a new Saudi leadership led by King Salman, the king’s son Deputy Crown Prince Mohammed bin Salman has largely been overseeing Saudi economic policy along with a handful of new ministers. The changes announced Saturday come as the government plans wide reforms aimed at overhauling the Saudi economy amid lower oil prices that have eroded state revenues.