Yasir Othman Al-Rumayyan, chairman of Saudi Aramco

Yasir Othman Al-Rumayyan, chairman of Saudi Aramco. (Supplied)
Updated 04 September 2019

Yasir Othman Al-Rumayyan, chairman of Saudi Aramco

  • Al-Rumayyan was the CEO of Saudi Fransi Capital LLC between 2011 and 2015 and is a former member of the board of directors of the Saudi Stock Exchange (Tadawul)

Yasir Othman Al-Rumayyan has been appointed chairman of Saudi Aramco, the world’s biggest oil company, replacing Khalid Al-Falih, who held the position since 2015.
Al-Rumayyan was appointed a member of the company’s board of directors in 2016.
“This comes as an important step to prepare the company for the public offering, wishing him every success,” Al-Falih said in a tweet congratulating Al-Rumayyan.
Aramco’s new chairman has been the governor of the Saudi Public Investment Fund (PIF) since 2017. He was appointed an adviser to the Royal Court in 2015 and is a board member at the US transportation network company Uber Technologies Inc. and the Japanese multinational SoftBank Group.
In May 2016, he became an adviser to the Saudi Cabinet, then a board member of the Saudi Industrial Development Fund (SIDF).
Al-Rumayyan was the CEO of Saudi Fransi Capital LLC between 2011 and 2015 and is a former member of the board of directors of the Saudi Stock Exchange (Tadawul).
He began his career at Saudi Hollandi Bank as head of international brokerage between 1999 and 2004, before joining the Capital Markets Authority (CMA) as the head of securities listings.
Al-Rumayyan received his undergraduate studies in accounting from King Faisal University in 1993 and completed his general management program at Harvard Business School in 2007.
With many ways of delivering value from a barrel of oil, Saudi Aramco has moved beyond traditional markets and uses for oil and gas.
The company is also investing in new technological solutions to achieve efficient production and consumption of oil, including enhancing the efficiency and sustainability of transportation with new high-performance engines and fuels.


Houthi attack on Saudi Aramco facilities act of terror: Japanese defense minister

Updated 59 min 45 sec ago

Houthi attack on Saudi Aramco facilities act of terror: Japanese defense minister

TOKYO: Taro Kono, the defense minister of Japan, said that threats to his country’s oil supply was the “most worrying scenario” he could imagine in international relations, in the wake of attacks on Saudi Arabian oil production facilities. 

“The most pessimistic scenario right now is that something happens in the Straits of Hormuz and the oil supply gets cut down, and that would send a shock wave through the global economy. I think the price of oil is already rising after this attack on Saudi facilities, so that’s the most worrying scenario right now,” he told a conference in Tokyo, Japan.

However, speaking on the sidelines to Arab News, he insisted that Saudi Arabia would remain a reliable partner of Japan - which imports around 40 per cent of its crude from the Kingdom - and downplayed concerns about long-term supply problems.

“Saudi has been and will be an important source of our energy supply. We have international co-ordination, and we have reserves, so we are not really worried about that,” he said. 

Kono, who was until recently Japan’s foreign minister, said that his country would be seeking to promote diplomatic solutions to the latest Middle East conflagration. "We definitely need to ease the tension between those countries. As Foreign Minister, the last thing I was doing was calling the Iranian Foreign Minister and the French Foreign Minister to ease the tension the region through diplomatic actions, and I think it's important to continue doing it.

“This Houthi attack on Saudi is a little different, because it's a terrorist attack. I think we may require some kind of military operation against those drone attacks, and that's something out of Japan's constitutional boundary. I think Japan will be focusing on diplomatic efforts in easing tension in the region.”

He raised concerns about the apparent lack of sophistication in the recent attacks. “If it is really drones, that is a lot cheaper than any form of conventional missile,” he said.