Oil Giant Saudi Aramco Names Acting CEO

Oil giant Saudi Aramco named an interim president and CEO after his veteran predecessor's appointment as minister of health.

Amin Nasser was named "acting president and chief executive officer of the Saudi Arabian Oil Company until further notice," Saudi Aramco said in a statement.

The appointment followed Khalid al-Falih's assignment on Wednesday to the Saudi cabinet under a major government reorganisation.

He will remain with Aramco as its chairman of the board, the company said.

Saudi Aramco is the world's largest oil company in terms of crude production and exports.

Falih had led the company and its 60,000 employees since 2009.

Nasser, who has spent more than 30 years with the firm, is a member of the board of directors and served as senior vice president of upstream operations since 2008.

Saudi Arabia is the world's biggest oil exporter.