Aramco makes leadership changes

KUWAIT: Saudi Arabian Oil Co (Aramco) has promoted eight executives to top positions, including a senior vice-president for downstream operations, as it seeks to double refining capacity and expand natural gas and chemical businesses ahead of what could be the world biggest share sale.

The world’s largest oil exporter appointed two senior vice-presidents, six vice-presidents and two associate general counsels, according to an internal memo dated Sunday and signed by chief executive officer Amin Nasser.

The appointments are effective May 1. The Aramco website later confirmed the appointments of the two senior vice presidents.

Saudi Arabia plans to sell as much as five per cent of Aramco next year as part of a plan to set up the world’s biggest sovereign wealth fund and reduce the economy’s reliance on oil.

As part of the leadership changes, Abdulaziz al-Judaimi, chairman of Motiva Enterprises LLC, which owns the largest United States refinery, was appointed senior vice-president to head Aramco’s downstream business, according to the Aramco website.

Nabeel Al Mansour was appointed senior vice-president, general counsel and corporate secretary.

The company has four other senior vice presidents, according to the website. Bloomberg