Ministry of Petroleum and Mineral Resources of Saudi Arabia

Ministry of Petroleum and Mineral Resources
Ministry of Petroleum and Mineral Resources, Saudi Arabia
Ministrial Department overview
Formed 1 December 1960
Preceding Ministrial Department Directorate General of Petroleum and Mineral Affairs
Jurisdiction Saudi Arabia
Headquarters Riyadh
Minister responsible Ali Naimi, Minister
Website Official website

The Ministry of Petroleum and Mineral Resources is one of the governmental bodies of Saudi Arabia and part of the cabinet. The ministry has the function of developing and implementing policies related to petroleum and petroleum products.

History

The ministry was established in December 1960.[1][2] Prior to the formation of the ministry policies regarding oil production and planning were overseen by the directorate general of petroleum and mineral affairs which was attached to the ministry of finance.[3] Then the directorate was converted into the ministry.[3]

The ministry is based in Riyadh.[4]

List of ministers

Since 1960 the ministry was headed by the following four ministers:

  1. Abdullah Tariki (December 1960 - 9 March 1962)[1]
  2. Ahmed Zaki Yamani (9 March 1962 – 5 October 1986)[3][5]
  3. Hisham Nazer (24 December 1986 – 2 August 1995)[6]
  4. Ali Naimi (2 August 1995 – present)[7]

Organization and activities

The ministry is primarily responsible for the policies concerning oil, gas and natural minerals in the country which is the world's largest holder of crude oil reserves.[8] It closely monitors the activities of the Saudi Aramco together with the Supreme Council for Petroleum and Minerals.[8] However, the ministry has much more responsibility in this regard than the council.[9]

The other agency with which the ministry works is Petromin, the general petroleum and mineral organization.[2] Through Saudi Arabian Basic Industries Company (SABIC), established in 1976, the ministry oversaw the operation of petrochemicals and other heavy industry projects.[3]

References

  1. ↑ 1.0 1.1 Yitzhak Oron, Ed. Middle East Record Volume 2, 1961. The Moshe Dayan Center. p. 419. GGKEY:4Q1FXYK79X8. Retrieved 16 September 2013.
  2. ↑ 2.0 2.1 "Ministry of Petroleum and Mineral Resources". SAMIRAD. Retrieved 16 September 2013.
  3. ↑ 3.0 3.1 3.2 3.3 Hertog, Steffen (2008). "Petromin: the slow death of statist oil development in Saudi Arabia". Business history 50 (5): 645–667. doi:10.1080/00076790802246087. Retrieved 16 September 2013.
  4. ↑ Basic addresses OSCE. September 2011. Retrieved 5 February 2014.
  5. ↑ "Defining moments: Sheikh Yamani". BBC. 9 July 2003. Retrieved 16 September 2013.
  6. ↑ "Key ministers fired as king cleans house". Eugene Register Guard (Riyadh). AP. 3 August 1995. Retrieved 16 September 2013.
  7. ↑ "Ali bin Ibrahim Al Naimi". SAGIA. Retrieved 16 September 2013.
  8. ↑ 8.0 8.1 "Saudi Arabia". US Energy Information Administration. 26 February 2013. Retrieved 16 September 2013.
  9. ↑ "Saudi Arabia". Revenue Watch Institution. Retrieved 16 September 2013.