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Khalid bin Salman Named Chairman of SAMI Board of Directors

Saudi Defense Minister Prince Khalid bin Salman.
Saudi Defense Minister Prince Khalid bin Salman.
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Khalid bin Salman Named Chairman of SAMI Board of Directors

Saudi Defense Minister Prince Khalid bin Salman.
Saudi Defense Minister Prince Khalid bin Salman.

The Saudi Arabian Military Industries (SAMI), a key enterprise under the Public Investment Fund (PIF), announced on Wednesday a restructuring of its Board of Directors.

Defense Minister Prince Khalid bin Salman was named as Chairman of the board.

The board includes Minister of Industry and Mineral Resources Bandar Al-Khorayef, Chairman of the General Authority for Civil Aviation Abdulaziz Al-Duailej, Assistant Minister of Defense Eng. Talal Al-Otaibi, Dr. Khalid Al-Biyari, Yasir Al-Salman, Eng. Omar Al-Madhi, and Eng. Abdulaziz Al-Suqair.

SAMI CEO Walid bin Abdulmajeed Abu Khalid hailed the efforts of the previous board which managed to lead it to become one of the world’s top 100 specialized defense companies.

SAMI was established in 2018 by the PIF to contribute to achieving the Kingdom's Vision 2030 by localizing 50% of the Kingdom's defense spending.

SAMI has been playing an essential role in developing the capabilities of its defense system and enhancing its self-sufficiency through its growing portfolio of products and services across its business sectors.

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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)

The Libyan oil export port of Hariga has stopped operating due to insufficient crude supplies, two engineers at the terminal told Reuters on Saturday, as a standoff between rival political factions shuts most of the country's oilfields.

This week's flare-up in a dispute over control of the central bank threatens a new bout of instability in the North African country, a major oil producer that is split between eastern and western factions.

The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the central bank governor - a key position in a state where control over oil revenue is the biggest prize for all factions.

Exports from Hariga stopped following the near-total shutdown of the Sarir oilfield, the port's main supplier, the engineers said.

Sarir normally produces about 209,000 barrels per day (bpd). Libya pumped about 1.18 million bpd in July in total.

Libya's National Oil Corporation NOC, which controls the country's oil resources, said on Friday the recent oilfield closures have caused the loss of approximately 63% of total oil production.