Middle East & Africa: Macroeconomic overview

May 2016

Saudi Arabia’s oil and gas sector is undergoing structural changes that are expected to boost the kingdom’s gas output.

The 21-year era of veteran oil minister Ali al-Naimi came to an end in May amid a major reshuffle in Saudi Arabia’s administration. The biggest move has been the creation of an Energy, Industry and Natural Resources Ministry led by Khalid al-Falih, who has replaced the 80-year-old Naimi. Falih is also the chairman of the state oil company Saudi Aramco.

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