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Saudi Arabia’s Powerful Oil Minister Ali al-Naimi Is Fired
Saudi Arabia fired long-serving oil minister Ali al-Naimi, dismissing one of the industry's most powerful figures as the country battles with weaker oil prices.
Mr. Naimi, who had been the kingdom's oil minister since 1995, has been a loud voice against lowering Saudi Arabia's production when prices fall, a departure from its past tactics.
He will be replaced by Khalid al-Falih, chairman of state oil company Saudi Arabian Oil Co., or Saudi Aramco.
http://www.wsj.com/articles/saudi-arabias-powerful-oil-minister-ali-al-naimi-is-fired-1462632035
Saudi Arabia fired long-serving oil minister Ali al-Naimi, dismissing one of the industry's most powerful figures as the country battles with weaker oil prices.
Mr. Naimi, who had been the kingdom's oil minister since 1995, has been a loud voice against lowering Saudi Arabia's production when prices fall, a departure from its past tactics.
He will be replaced by Khalid al-Falih, chairman of state oil company Saudi Arabian Oil Co., or Saudi Aramco.
http://www.wsj.com/articles/saudi-arabias-powerful-oil-minister-ali-al-naimi-is-fired-1462632035
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