Ministry of Petroleum and Mineral Resources of Saudi Arabia
|Ministrial Department overview|
|Formed||1 December 1960|
|Preceding Ministrial Department||
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.
The ministry was established in December 1960. 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. Then the directorate was converted into the ministry.
List of ministers
Since 1960 the ministry was headed by the following four ministers:
- Abdullah Tariki (December 1960 - 9 March 1962)
- Ahmed Zaki Yamani (9 March 1962 – 5 October 1986)
- Hisham Nazer (24 December 1986 – 2 August 1995)
- Ali Naimi (2 August 1995 – present)
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. It closely monitors the activities of the Saudi Aramco together with the Supreme Council for Petroleum and Minerals. However, the ministry has much more responsibility in this regard than the council.
The other agency with which the ministry works is Petromin, the general petroleum and mineral organization. Through Saudi Arabian Basic Industries Company (SABIC), established in 1976, the ministry oversaw the operation of petrochemicals and other heavy industry projects.
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