The duties of Energy Minister Prince Abdulaziz bin Salman have expanded after he was appointed Minister of Industry and Mineral Resources, in addition to his current position, enhancing integration between the energy, industry, and mining sectors in the Kingdom.

According to Bloomberg, Prince Abdulaziz bin Salman succeeded Bandar Al-Khorayef, who was appointed Minister of State and member of the Cabinet, and Governor of the General Authority for Military Industries.

The new change gives the Energy Minister a broader role in leading the Kingdom's industrial ambitions and bringing the work of the three sectors closer together, given their close link to supply chains, trade, and non-oil exports.

Prince Abdulaziz bin Salman is considered one of the most prominent decision-makers in global energy markets, having led the Kingdom's oil policy during a period of severe volatility and played a pivotal role in the OPEC+ alliance.

The National Industrial Strategy aims to transform the Kingdom into a global industrial power and increase the industrial sector's contribution to GDP to 895 billion riyals by 2030.

The Kingdom also seeks to increase non-oil exports to more than 550 billion riyals by 2030, approximately three times their levels recorded in 2020.