Friday, 18 October 2019

#Saudi Aramco survivor navigates choppy IPO waters | Financial Times

Saudi Aramco survivor navigates choppy IPO waters | Financial Times:

Earlier this year, Saudi Arabia’s oil minister Khalid al-Falih tried to remove Amin Nasser from his post at the head of the state oil company, according to four people familiar with the matter.

Since he was appointed chief executive of Saudi Aramco in 2015, Mr Nasser had played second fiddle to Mr Falih, a high-profile technocrat and the seemingly untouchable chief of Saudi energy policy at home and abroad.

Yet Mr Nasser had started to prove an obstacle to Mr Falih’s attempts to make use of Saudi Aramco’s funds and staff, prompting the attempt to oust him.

Unexpectedly, though, it was Mr Falih who was fired as minister and chairman of the company, and the 60-year-old Mr Nasser who survived.

Those survival skill

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