Saudi King Salman on Sunday promoted one of his sons to the pivotal role of energy minister, strengthening his family’s grip on the levers of power from oil to finance and defence.
In June 2017, he edged out a 58-year-old cousin, Prince Mohammed bin Nayef, to become heir to the throne.If he succeeds as king, foreign diplomats predict the prince could well be in control of Saudi Arabia for at least half a century.Prince Mohammed is also the kingdom’s defence minister and chairman of the vast Public Investment Fund, which is spearheading efforts to diversify the oil-reliant economy.
A graduate of the kingdom’s King Fahd University of Petroleum and Minerals, the prince worked closely with the three previous oil ministers. He also takes charge as the world’s top crude exporter accelerates preparations for a much-anticipated stock listing of state-owned oil giant Aramco, expected to be the world’s biggest.The 31-year-old, a younger full brother to the crown prince, was appointed deputy defence minister in February this year.
His track record looks promising...
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