There has been no shortage of news about Mohamad Bin Salman, more commonly known as MBS, the 35-year crown prince of Saudi Arabia. A controversial figure, he has been hailed as a reformer, but also criticized for corruption and human rights abuses. He came to power at a time when Saudi Arabia’s geopolitical prowess as an energy giant may be threatened by the energy transition. This year, Saudi Arabia has embarked on a massive diplomatic effort to set itself up for success in a world inching towards clean energy, but still grappling with energy security, independence and resilience issues brought on by recent conflicts like the Russian war of aggression in Ukraine. Among many of the many topics on MBS’s desk are: how will Saudi Arabia fare in a post-oil world? MBS’s diplomatic moves of the past few months may signal the future direction of MBS’s energy diplomacy. Joelle Thomas reports.
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How the ongoing Russia-Ukraine war affects Nigeria’s subsidy and energy prices
On February 24th, 2022, Russia launched a wide range of attacks on Ukraine. The invasion has left the European Union desperately searching for alternative energy sources to replace Russia’s fossil fuels. As a result, the invasion has also led to global fluctuations in crude oil prices, which directly impact fuel prices, so the higher crude oil prices are, the higher gas prices are likely to be. Samuel Ajala takes a closer look on how these circumstances affect Nigeria.