Falih moved aside as Aramco IPO looms
Saudi oil giant's chairman exits as preparations for a partial sell-off limber up
Saudi energy minister Khalid al-Falih was once the man King Salman and Crown Prince Mohammed bin Salman (MbS) turned to when something needed fixing. While serving as Aramco CEO, he was appointed health minister to sort out a crisis in that department. He then became not only chairman of Aramco but also a minister with responsibility for energy as well as for industry and mining. Now, in the space of a couple of days, Falih's role has diminished significantly. He is no longer the Aramco chairman; and the industry and mining responsibilities have been taken away from his ministry. The new Aramco chairman is a former banker, Yasir al-Rumayyan. His appointment marks a new departure: it is the f
Also in this section
23 March 2026
A complex and sometimes contradictory web of factors that include unpredictable oil prices, the globalisation of LNG markets, the expansion of Middle Eastern sovereign capital and the growth of datacentre demand will shape the energy landscape beyond 2026
23 March 2026
The Strait of Hormuz crisis highlights how key waterways can become global chokepoints
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
20 March 2026
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
