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Tag: Mohammed bin Salman

  • Oil prices rise on Middle East tensions, healthy demand

    Oil prices rose on Wednesday, supported by tensions in the Middle East and healthy global demand, although rising United States output from the United States continued to weigh on markets.

    Brent sweet crude futures were at 67.66 dollars per barrel.

    U.S. West Texas Intermediate ( WTI ) crude futures were at 63.82 dollars a barrel at 0027 GMT, up 28 cents, or 0.4 per cent, from their previous close.

    Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington for a state visit, raising market-speculation the United States could re-impose sanctions on Iran, following renewed-criticism of the 2015 nuclear-deal.

    Energy consultancy FGE said it was likely that the United States would re-impose sanctions on Iran soon, resulting in a 250,000 to 500,000 barrels per day ( bpd ) drop in its exports by year-end.

    Analysts also pointed to healthy economic growth and a weak dollar as oil price drivers.

    In a sign of healthy demand, U.S. crude stocks fell by 2.7 million barrels in the week ended March 16 to 425.3 million, as refineries boosted output, the American Petroleum Institute said on Tuesday.

    Reuters/NAN

  • Saudi crown calls to support Afghan peace process

    Saudi crown calls to support Afghan peace process

    Saudi Arabia Crown Prince Mohammed bin Salman on Friday called on all parties to the conflict to support the peace process in the conflict-hit Afghanistan, local media reported on Friday.

    Salman expressed support to the peace process during a recent visit to Saudi Arabia by Mohammad Atmar, the advisor to Afghan president on national security.

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    “Saudi Crown Prince Mohammed bin Salman in his meeting with National Security Advisor Mohammad Hanif Atmar called on all parties involved in the conflict to support the process to get it back on track,” Tolo television quoted a statement of Atmar’s office as saying.

    Taliban militants who have always rejected joining the government-backed peace process in the presence of foreign forces in Afghanistan and instead want direct talks with the U.S. government, have yet to make comments.

    NAN

     

  • Women in Saudi Arabia to attend football matches for first time

    Women in Saudi Arabia to attend football matches for first time

    Women in Saudi Arabia would be allowed this month to attend football matches for the first time in the conservative kingdom, authorities said on Monday.

    Female fans would enter major sports stadiums in the Kingdom to attend three football matches involving local sides as part of the Saudi Professional League competition, the government-run Centre for International Communication said in a statement.

    The three fixtures are scheduled for Friday, Saturday and Jan. 18, the statement added without further details.

    In October, the Saudi General Sports Authority, a state agency, said that as of early 2018 three stadiums, up to now male-only facilities, would be prepared to be ready for families, including allocation of special places for seating and entrances.

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    They are King Fahd International Stadium in the capital Riyadh, King Abdullah Sports City in the western city of Jeddah, and Prince Mohammed bin Fahd Stadium in Dammam in eastern Saudi Arabia.

    In September, Saudi King Salman Abdelaziz issued a royal order allowing women to drive, breaking a longstanding tradition as social reforms in the conservative kingdom gather pace.

    Powerful Crown Prince Mohammed bin Salman is believed to have championed lifting the ban as he is seeking to open up the country and revamp its international image.

    Mohammed, 32, has vowed that the kingdom would return to “moderate Islam’’ as he works on reducing the influence of the hard-line religious establishment in the country.

    NAN

  • Saudi official denies former crown prince confined to palace

    Saudi official denies former crown prince confined to palace

    A senior Saudi Arabian official on Thursday denied as “baseless’’ a New York Times report that Prince Mohammed bin Nayef has been confined to his palace and barred from traveling abroad after being replaced by the king’s son as next in line to the throne.

    The official said that Nayef, a veteran Interior Minister, had continued to host guests and there was no restrictions at all on his or his family’s movements.

    Nayef, who was admired in Washington for quashing an al Qaeda insurgency in the kingdom between 2003 and 2006, was relieved of all his duties a week ago.

    In his place as Crown Prince, King Salman appointed his son Mohammed bin Salman, who also serves as defence minister and leads an ambitious reform agenda to end Saudi Arabia’s over-reliance on oil.

    Mohammed bin Salman’s promotion ended two years of speculation about a behind-the-scenes rivalry near the pinnacle of royal power, but analysts said he still has to win over powerful relatives, clerics and tribesmen.

    The New York Times, citing four current and former American officials and Saudis close to the royal family, said Nayef has been “barred from leaving the kingdom and confined to his palace” in the Red Sea city of Jeddah.

    But the senior Saudi official expressed shock at the report, which he described as a “fabricated story” and suggested that Nayef may seek legal action against the newspaper.

    “What was published by the New York Times is untrue, completely false, and baseless,” the official said, responding to a question on the New York Times report.

    “His Royal Highness, Nayef and his family is moving freely and hosting his guests unrestrictedly.

    Nothing has changed for the Prince, except for stepping down from his government positions,” the official said.

    “He hosts guests and leaves his house on a daily basis since he has stepped down.

    “Further, there are no restrictions on his movement whatsoever, either in or outside of Saudi Arabia.’’

    Although Mohammed bin Salman’s promotion to crown prince had long been expected among those who follow the royal family closely, the timing was a surprise, and puts the kingdom’s future in relatively untested hands.

    The promotion proceeded smoothly, with royal family members, senior officials and clerics participating in a traditional ceremony held in the Muslim holy city of Mecca in
    which they pledged allegiance to the new crown prince.

    Saudi state media, eager to show the change was going smoothly, repeatedly broadcast footage of the young Mohammed bin Salman kissing the hand of Nayef, as his older cousin offered him congratulations.

    The Saudi official said Nayef was “entitled to bring legal action against the newspaper and anyone who defames his reputation by publishing such false news about him.’’

  • Saudi King appoints son as Crown Prince

    Saudi King appoints son as Crown Prince

    Saudi Arabia’s King Salman on Wednesday made his son his successor, removing his nephew as crown prince.

    King Salman has given the 31-year -old almost unprecedented powers as the world’s leading oil exporter implements transformational reforms.

    A royal decree appointed Mohammed bin Salman crown prince and deputy prime minister.

    He retains defence, oil and other portfolios.

    Reports said Crown Prince Mohammed bin Nayef, a counter-terrorism chief admired in Washington for putting down an al Qaeda campaign of bombings in 2003-06, was relieved of all positions.

    Although Mohammed bin Salman’s promotion was expected among close circles,  it came as a surprise at a time the kingdom is facing heightened tensions with Qatar and Iran and is locked in war with Yemen.

    The royal decree said the decision by King Salman to promote his son and consolidate his power was endorsed by 31 out of 34 members of the Allegiance Council, made up of senior members of the ruling Al Saud family.

     

  • Saudi Arabia’s King Salman makes son his successor

    Saudi Arabia’s King Salman makes son his successor

    Saudi Arabia’s King Salman made his son his successor on Wednesday, removing his nephew as crown prince.

    By this, King Salman has given the 31-year old almost unprecedented powers as the world’s leading oil exporter implements transformational reforms.

    A royal decree appointed Mohammed bin Salman crown prince and deputy prime minister.

    He retains defence, oil and other portfolios.

    It said Crown Prince Mohammed bin Nayef, a counter-terrorism chief admired in Washington for putting down an al Qaeda campaign of bombings in 2003-06, was relieved of all positions.

    Although Mohammed bin Salman’s promotion was expected among close circles it came as a surprise at a time the kingdom is facing heightened tensions with Qatar and Iran and is locked in a war in Yemen.

    The royal decree said the decision by King Salman to promote his son and consolidate his power was endorsed by 31 out of 34 members of the Allegiance Council, made up of senior members of the ruling Al Saud family.

    Always intent on dispelling speculation of internal divisions in the Al Saud ruling dynasty, Saudi television was quick to show that the change in succession was amicable and supported by the family.

    Throughout the early morning it aired footage of Mohammed bin Nayef pledging allegiance to the younger Mohammed bin Salman who knelt and kissed his older cousin’s hand.

    “I am content,” Prince Mohammed bin Nayef said. Prince Mohammed bin Salman replied: “We will not give up taking your guidance and advice.”

    Analysts said the change ends uncertainty over succession and empowers Prince Mohammed bin Salman to move faster with his plan to reduce the kingdom’s dependence on oil, which includes the partial privatisation of state oil company Aramco.

    “The change is a huge boost to the economic reform program…Prince Mohammed bin Salman is its architect,” said John Sfakianakis, director of the Riyadh-based Gulf Research Center.

    Bernard Haykel, professor of Near Eastern Studies at Princeton, said the king’s decision was aimed at avoiding a power struggle between his son and Mohammed bin Nayef by setting the line of succession clearly.

    “It’s clearly a transition that has happened smoothly and bloodlessly. Now it’s clear, it’s straightforward. That kind of clarity lowers the risk, there’s no question as to who’s going to be in charge.”

    “Some people were predicting that this would lead to a division in the family and strife and some kind of revolt. I don’t see that happening.”

    A senior Saudi official said the decision was taken due to what he called special circumstances presented to the members of the Allegiance Council.

    He added that Mohammed bin Nayef supported the decision in a letter sent to the king.

    The royal decree did not nominate a new deputy crown prince. The position is relatively new in Saudi Arabia where a king has traditionally chosen his own successor.

    As deputy crown prince, Mohammed bin Salman has been responsible for running Saudi Arabia’s war in Yemen, dictating an energy policy with global implications and spearheading plans for the kingdom to build an economic future after oil.

    That the royal succession in the world’s top oil exporter is closely scrutinized only makes the rapidity of Mohammed bin Salman’s rise to power, and the speed with which his better known cousins were brushed aside, more astonishing.

    The announcement follows two and a half years of already major changes in Saudi Arabia, which stunned allies in 2015 by launching an air war in Yemen, cutting back on lavish subsidies and proposing in 2016 the partial privatisation of state oil company Aramco.

    Financial analysts said Prince Mohammed’s promotion gave further assurance that key parts of radical reforms to diversify the Saudi economy beyond oil would continue.

    “We do not expect to see any major changes to key areas of policy, including economic,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

    In 2016 Mohammed bin Salman, or “MBS” as he is widely known, announced sweeping changes aimed at ending the kingdom’s reliance to oil, part of his campaign to tackle systemic challenges that the kingdom has previously failed to address.