The government in Riyadh sanctioned a restructuring plan that would break oil company Saudi Aramco off from the nation’s oil ministry, sources said Friday. Citing undisclosed sources, Saudi-owned pan-Arab news channel al-Arabiya reported the country’s Supreme Economic Council approved a restructuring plan offered by Deputy Crown Prince Mohammad bin Salman. The crown prince was appointed as defense minister earlier this week amid a government shake-up. Saudi Aramco Chief Executive Khaled al-Falih was named chairman of the company and health minister, the news channel reported. Saudi Aramco said in a Wednesday briefing of its annual spring meeting the board of directors “focused on deeper re-examination of the framework and investment profile in light of what happened in the crude markets over the past nine […]