Saudi Arabia .. Why did the dismissed Minister of Energy return to the government?

The appointment of Saudi Khaled Al-Falih to a new investment role indicates that the economic transformation project for the Kingdom's Vision 2030 needs a new recovery, according to his report published by The Washington Institute.

Writer Simon Henderson says in this report that last September, Al-Faleh (the Minister of Energy) appeared to violate the ambitions of Crown Prince Mohammed bin Salman after he showed caution regarding the partial sale of shares of Saudi oil giant Aramco. Within nine days, Al-Falih found that his ministry was stripped of its responsibilities in the field of industry and minerals, and that he lost his position as president of Aramco and was dismissed from the position of Minister of Energy.

The writer stated that on Tuesday February 25th, Al-Falih was appointed to head the newly established Ministry of Investment, which replaced the General Investment Authority.

"In fact, this move indicates that it is difficult to abandon the experience of Al-Falih and his talents, (as) some officials point out that Vision 2030 can turn into Vision 2035, especially since Aramco's stock performance since its float in December was Weak. "

In his report, the writer stated that the energy monitors were surprised by the appointment of Al-Falih, who will now attend the meetings alongside Prince Abdulaziz bin Salman (the current Minister of Energy) and (Aramco Chairman) Yasser Al-Ramyan.

frustration
"It is known that Abdulaziz was disappointed when he was working under the leadership of al-Falih, and he will not be the only oil expert in the room," the writer said.

On the other hand - the writer adds - Al-Romyan suffers from his own problems. On February 11, a report published in The Wall Street Journal highlighted his relationship with Carla DeBello, a reality TV show producer .

The report of the American newspaper indicated - according to the author - that some officials in the Saudi Public Investment Fund have become frustrated with the interest of Ramyan in Dipilo at a time when the Fund's main investments are facing great difficulties.

"Although it was indicated that King Salman bin Abdulaziz was behind the reappointment of Al-Faleh as well as other recent changes, the matter is likely due to the de facto crown prince of the kingdom," the writer says.

He adds that Al-Falih's mission will not only help to maintain the right path for Vision 2030, but he will also have to pave the way for the upcoming opportunities that will be available thanks to Saudi Arabia hosting the G20 summit in November, the author adds.

The report concludes that Al-Falih also has to deal with the constant caution of foreign investors resulting from the killing of journalist Jamal Khashoggi in 2018 and the detention of Saudi businessmen and rival princes at the Ritz-Carlton Hotel in Riyadh in 2017 during what was known as the crackdown on corruption.