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Kuwait appoints new oil minister

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Kuwait formed a new cabinet on Sunday and appointed Saad Al Barrak as oil minister to replace Bader Al-Mulla, Reuters reported.

Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as prime minister last week, formed the new cabinet announced in a decree carried by the state news agency KUNA.

The Gulf Arab state also reappointed Finance Minister Manaf Abdulaziz Al Hajri and named a new defence minister, Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah.

The outgoing government had resigned following parliamentary elections held earlier this month in the Gulf OPEC oil producer.

Kuwait holds some of the world’s largest oil reserves and has strong fiscal and external balance sheets, but political bickering and institutional gridlock have hampered investment and reforms aimed at reducing its heavy reliance on oil revenues.