JEDDAH — Saudi Arabia has appointed Prince Abdulaziz bin Salman bin Abdulaziz as Minister of Energy, according to a royal decree, Saudi press agency (SPA) reported.

According to the Royal decree, Eng. Khalid al-Falih has been relieved from his post as Minister of Energy.

Another decree named Prince Sultan bin Ahmed bin Abdulaziz ambassador to Bahrain.

In a third decree, King Salman appointed Osama Al-Zamil as deputy minister of the Ministry of Industry and Mineral Resources, replacing Abdulaziz Al-Abdulkarim, who was removed from his post by the same decree.

Falih's relief from his post comes just days after he was removed as chairman of state-owned oil giant Aramco as the company prepares for an initial public offering (IPO).

He was replaced in that post by Yasir al-Rumayyan, governor of the kingdom's Public Investment Fund.

Last month the world's top oil exporter announced the creation of a new ministry of industry and mineral resources, separating it from his energy ministry.

The shakeup comes as Aramco steps up efforts to float around five percent of the company, in what could potentially be the world's biggest stock sale. SPA with input from AFP