ANALYSIS-Naimi in spotlight as Saudi cabinet shuffle eyed

Fri Feb 25, 2011 12:39pm GMT

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* Naimi's expertise particularly valuable now

* Saudi appetite for change could trigger new cabinet

* Huge challenge to calm markets, bring oil to $70-$80 range

By Barbara Lewis

DUBAI, Feb 25 (Reuters) - The return of Saudi Arabia's King Abdullah from three months of medical treatment has spurred expectations of a cabinet shuffle but any move to replace Ali al-Naimi, the world's most powerful oil minister, could prove a step too far in such turbulent times.

Oil vaulted to a peak of nearly $120 a barrel on Thursday, its highest in 2-1/2 years, driven by the spread of revolutionary unrest to OPEC member Libya.

Riyadh has already announced benefits for its people worth some $37 billion and Saudi analysts say the next step could be a push to revive stalled reforms and replace some ministers who have held power for many years.

Naimi, who is 75 and has been oil minister since 1995, last December dismissed as "rubbish" a report that Saudi Arabia was considering possible successors, but the rumours have refused to go away. Continued...

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