Saudi Arabia names Prince Abdulaziz bin Salman as new energy minister

Saudi Arabia’s King Salman on Sunday replaced the energy minister with one of his sons, state media said, in a major shakeup as the OPEC kingpin reels from low oil prices. The appointment of Prince Abdulaziz bin Salman, half-brother to de facto ruler Crown Prince Mohammed bin Salman, marks the first time a royal family member has been put in charge of the all-important energy ministry.

He replaces veteran official Khalid al-Falih 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.

“Khalid al-Falih has been removed from his position,” the official Saudi Press Agency said, citing a royal decree.