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
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