Saudi crown prince consolidates oil sector control
A new committee will manage all hydrocarbons-related affairs
The Saudi cabinet has reviewed and accepted recommendations from the Council of Economic and Development Affairs for the creation of a body to oversee the oil and gas sectors, according to a brief official statement. The new Higher Committee for Hydrocarbons will be headed by Crown Prince Mohammed bin Salman. This means that he now has yet another institution associated with the Saudi economy under his belt. The crown prince already chairs the supreme council of the state energy giant, Saudi Aramco and the Council of Economic and Development Affairs that recommended the setting up of the latest committee. According to the official announcement, the new body "will be the responsible agency fo
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
