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
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
