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Saudi Arabia's oil minister, Ali al-Naimi, has been fired following a cabinet shake-up spearheaded by the country's Deputy Crown Prince Mohammad Salman.
This is part of Salman's 'Vision 2030' initiative, which seeks to lessen Saudi's dependence on oil and diversify its economic interests. In a recent interview, Salman Vision2030 as "a road map for our objectives in the fields of development, economy, and other aspects over the next 15 years. A part of it is related to Aramco, but only a small part. It (the vision) includes many contents that should not be limited to Aramco."
Naimi had served as the country's oil minister for over 20 years, beginning in 1995.
Saudi Aramco Chairman Khalid al-Falih will succeed Naimi as Saudi's new minister of oil.
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