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The extraordinary memoir of global oil's former central banker
Ali Al-Naimi is the former Saudi oil minister - and OPEC kingpin - a position he held for the two decades between August 1995 and May 2016. In this time, Al-Naimi's briefest utterances moved markets. But it wasn't always that way.
Al-Naimi was born into abject poverty as a nomadic Bedouin in the 1930s, just as US companies were discovering vast quantities of oil under the baking Arabian deserts. From his first job as a shepherd boy, aged four, to his appointment to one of the most powerful political and economic jobs in the world, Out of the Desert charts Al-Naimi's extraordinary rise to power.
Described by Alan Greenspan as 'the most powerful man you've never heard of', Al-Naimi's incredible journey proves that anyone can make it - even a poor Bedouin shepherd boy. This is his exclusive inside story of power, politics and oil.
His Excellency Ali Ibrahim Al-Naimi is the former Minister of Petroleum and Mineral Resources for the Kingdom of Saudi Arabia. One of the most powerful economic and political jobs in the world, he held this post from August 1995 to May 2016.
Prior to that he held a wide range of leadership positions in the Kingdom's national oil company, Saudi Aramco. He was the first Saudi national to be named President of the company in 1984 and became the first Saudi CEO in 1988. Al-Naimi joined the company, then called Aramco, as an office boy in 1947. A Bedouin, he was born in the deserts of eastern Arabia in 1935.
- Sales Rank: #21588 in eBooks
- Published on: 2016-11-03
- Released on: 2016-11-03
- Format: Kindle eBook
Review
He's a wise man. And there are not a whole lot of wise men about -- Daniel Yergin, Pulitzer Prize-winning author of THE PRIZE He's the most important man you've never heard of -- Alan Greenspan, former US Federal Reserve chairman You hear about people who walk with kings and who walk with the common man. That's a perfect description of minister Al-Naimi -- James C. Oberwetter, former US ambassador to Saudi Arabia When I think of Ali Al-Naimi I think knowledge. Knowledge of the industry, knowledge of the political scene, understanding the way the world economic markets work -- Sam Bodman, former US energy secretary
About the Author
His Excellency Ali Ibrahim Al-Naimi was Minister of Petroleum and Mineral Resources for the Kingdom of Saudi Arabia, from 1995 to May 2016. He is a member of the Cabinet of the Council of Ministers and the Supreme Economic Council. From 1995 until 2015, he was Chairman of the Kingdom's national oil company, Saudi Aramco. He is also Chairman of the Saudi Geological Society and of the King Abdullah University of Science and Technology. He is routinely named on international power lists, including the Time World's 100 Most Influential People and The Times's GulfPower25.
Most helpful customer reviews
9 of 9 people found the following review helpful.
Fascinating memoir from Saudi oil chief, whose voice moved markets
By Amazon Customer
Fascinating memoir from one who could arguably be called the world's oil chief for over two decades. The book takes a look at Al-Naimi's life from poor being born into a poor nomadic Bedouin family in the 1930s, to serving as the CEO of Saudi Aramco, the world's largest oil company, to serving as Saudi Arabia's powerful oil minister from 1995 to May 2016.
Al-Naimi's autobiography is fascinating to read from both a political and economic perspective, particularly his now some-what questionable decision to let Saudi Arabia ramp up oil production at all costs in Nov. 2014 just as oil markets were being saturated. The result of that decision has been to help put in place one of the worst oil market crashes in a generation, in spite of the fact that U.S. shale oil production actually started the over-supply quandary.
A fascinating passage from his book comes when Al-Naimi writes that one of his aides asked him in November 2014, what was the chance of leading non-OPEC countries Russia, Mexico, Kazakhstan and Norway cutting oil production.
"I held up my right hand and made the sign for zero," he writes.
At the time of his books release, the prospect of an oil production cut still looks pretty dismal.
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