03 HE KHALID AL FALIH

CHAIRMAN, ARAMCO

ORIGIN KSA RESIDENCE KSA SECTOR ENERGY 2016 RANK 05

In May last year, Khalid Al Falih took the position many deemed destined to be his, succeeding veteran Ali Al-Naimi as Saudi minister of petroleum and mineral resources. The role gives Al Falih untold power and influence over a global oil market that already held him in high regard, as shown by the key role he played in the OPEC and non-OPEC production cuts agreed at the end of last year. On top of this new position, Al-Falih’s seat as chairman of state-owned oil giant Saudi Aramco looks set to become an increasingly important one in the coming years as the company gears up for a 5 per cent listing in 2018 expected to value it at more than $2 trillion. Publically he has suggested the funds could transform Aramco into an industrial conglomerate similar to General Electric in the US.