Saudi Arabia’s former energy minister returns in cabinet reshuffle | Financial Times:
Khalid al-Falih, who was removed from his position as Saudi Arabia’s energy minister last year, has returned to lead a new government ministry for investment as part of a cabinet reshuffle announced on Tuesday.
The state news agency published a series of royal decrees that also announced the creation of new ministries for sports, tourism and human resources as well as new government appointments.
Until last year, Mr Falih was one of the highest ranking officials in the kingdom. An oil industry veteran for decades, he oversaw a Saudi super-ministry that straddled energy, industry and mining.
But his inability to deliver a rapid overhaul of industrial strategy and a cautious approach to the stock market offering of Saudi Aramco - much sought after by Crown Prince Mohammed bin Salman - were among reasons he fell from grace in a dramatic fashion. Within a few days in September he lost a series of positions including his role as the head of oil policy and the chairman of the state energy giant, moves that revealed the ruthless nature of governance in the kingdom.
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