Uncertainty looms after dramatic changes in Saudi Energy Ministry


Uncertainty looms after dramatic changes in Saudi Energy Ministry

The dramatic changes in Saudi Arabias political administration is expected to have global ramifications, given that energy is the edifice of the gargantuan Saudi commercial empire. In yet another Palace coup, the Kingdom”s veteran Energy Minister Khalid al-Falih has been sacked and replaced by King Salman”s son Prince Abdulaziz bin Salman, while the Deputy Energy Minister has also been removed.

For India, the changes are even more keenly watched as the country gets more than 80 per cent of its oil imports from the Organisation of Petroleum Exporting Countries (OPEC) headed by Saudi Arabia, which is also the country”s second biggest supplier of crude.

As luck would have it, Union Petroleum Minister Dharmendra Pradhan met the new Saudi Energy Minister Prince Abdulaziz bin Salman in Jeddah on Monday, kicking off his tour of Saudi Arabia, Qatar and the UAE.

In a tweet, Pradhan said that the new Saudi Energy Minister reiterated Saudi Arabia”s commitment to remain a reliable and sustainable partner in hydrocarbon supplies and also on Saudi investments in India. Read More 

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