Saudi Energy Minister to take on manufacturing and minerals post

Saudi Arabia has put Energy Minister Prince Abdulaziz bin Salman in charge of both energy and industry after the Iran war exposed how disruptions to oil shipments, trade routes and manufacturing can quickly spill across the economy.

In appointing Prince Abdulaziz Minister of Industry and Mineral Resources in addition to his current post, the government aims to centralize decisions across oil, mining and factories as it works to reduce its dependence on crude exports, Asharq Al-Wasat reports.

Under the new structure, Prince Abdulaziz will lead efforts to expand manufacturing, increase non-oil exports and raise the sector’s contribution to the economy to almost $240 billion by 2030.

Former Industry Minister Bandar Alkhorayef will remain in the cabinet and take charge of the kingdom’s military industries regulator.