Kemp: Saudi Arabia's Oil Policy Could Become More Transparent

In the last two years, under Naimi and his advisers, the Saudis have already taken some tentative steps towards greater openness, for example releasing transcripts of important ministerial statements.

Falih will probably push this effort much further and bring a more modern and professional approach to communications, which could include the appointment of a proper press spokesman and upgraded website.

Falih has already proved to be more willing to speak openly and at length about oil market developments and Saudi strategy, offering a lengthy and candid analysis at the World Economic Forum in January 2015 ("Saudi Aramco CEO speaks at World Economic Forum 2015," Saudi Aramco, Jan 2015).

Under Falih, Saudi policies could become clearer and more consistent which should in turn improve confidence and remove one source of instability in oil prices.

As Saudi Arabia prepares for the part-privatisation of Aramco, more data on exploration, production and reserves will have to be published for investors.

Falih is likely to help accelerate that transition to greater openness and accountability.

(Editing by William Hardy)


View Full Article


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.