Saudis replace Aramco chair with wealth fund boss before IPO

As Riyadh prepares Aramco's IPO, Saudi Arabian Energy Minister Khalid Al-Falih has been removed from his position as chair of the state-owned oil giant – the second time this week his role has been reduced.

Photo: Anushree Fadnavis/Reuters/Ritzau Scanpix

BY RIAD HAMADE, MATTHEW MARTIN & ANTONY DIPAOLA, BLOOMBERG NEWS

Saudi Arabia removed Energy Minister Khalid Al-Falih from his position as Chairman of Saudi Aramco, the second time his role has been scaled back in less than a week, as the government prepares to sell shares in the state-owned oil company.

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