Middle East Economic Survey
Cabinet Approves Merger Of Petromin With Saudi Aramco
Saudi Arabias cabinet on 24 October approved the dissolution of the General Petroleum and Mineral Organization (Petromin) and agreed for its assets to be merged with Saudi Aramco, tasking Oil Minister Ali Naimi to oversee the transfer. The move formally dissolves the organization, which was formed in 1962 and operated wholly in the refining and marketing sector. Following...