Finance

Saudi Arabia’s new oil minister more fully behind expedited IPO of Saudi Aramco

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Saudi Arabia’s new Energy Minister, Prince Abdulaziz bin Salman speaks during a panel discussion at the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 9, 2019.

Satish Kumar | Reuters

Saudi Arabia’s new energy minister is expected to be fully behind the expedited IPO of the kingdom’s oil company, replacing a highly-regarded minister whose downfall may be that he was too slow to embrace the Saudi Aramco offering and other reforms.

Oil markets were surprised over the weekend when King Salman replaced Energy Minister Khalid Al Falih with his son, Prince Abdulaziz bin Salman, older half brother of Crown Prince Mohammed bin Salman and minister of state for energy affairs…



Source cnbc.com

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