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8 May 2016

Managing Saudi’s new energy mega-ministry may bring challenges

Author: admintech | Filed under: World

Khalid A. Al-Falih (L) and Ali al-Naimi attend a news conference at the opening ceremony of the King Abdullah University of Science and Technology (KAUST) in JeddahBy Angus McDowall , Rania El Gamal and Reem Shamseddine RIYADH (Reuters) – Managing Saudi Arabia's new energy mega-ministry, set to oversee over half the economy and designed to cut through a tangled bureaucracy to make government more coherent and efficient, will be a formidable challenge. The new Energy, Industry and Mineral Resources Ministry, under Khalid al-Falih, already chairman of state oil company Saudi Aramco, will handle oil and gas extraction, power generation and distribution, mining and industrial development. The changes were announced on Saturday as part of a major reshuffle by King Salman aimed at making the Vision 2030 economic reform program easier to implement by ending decades of miscommunication and turf war between government departments.

Source: http://news.yahoo.com/managing-saudis-energy-mega-ministry-may-bring-challenges-134744762–finance.html