Tag Archives | Saudi Arabia

Iraq “becomes Energy Investment Hotspot”

By John Lee. According to Miriam Malek, writing for S&P Global Platts, Iraq is again becoming a viable destination for energy investment after the final defeat of Islamic State and the election of a new government revived interest in the region’s second-largest oil producer. The US, Qatar, Saudi Arabia and Iran are now vying for […]

TAQA Acquires Schlumberger’s Iraq Business

Saudi Arabia’s Industrialization and Energy Services Company (TAQA) has announced that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SAR 1.56 billion). According to a TAQA press release, the transaction transforms ADC into a regionaldrilling leader […]

Iraq Struggles to Distance itself from US-Iran Tensions

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq struggles to distance itself from US-Iran tensions Iraq is trying hard to dissociate itself from the rising hostilities between Iran and the United States, as it hopes to preserve its national interests without […]

Iraq and Saudi sign 13 New Agreements

By John Lee. Iraq and Saudi Arabia have signed 13 political and economic agreements during the visit by Prime Minister Adel Abdul Mahdi to the Saudi capital Riyadh. According to Reuters, Iraqi Oil Minister Thamer Ghadhban has said that Saudi state-owned oil giant Saudi Aramco will help Iraq explore for gas in the western desert. […]

Trade Bank of Iraq to open first Saudi Branch

By John Lee. The state-owned Trade Bank of Iraq (TBI) will reportedly open its first operational branch outside Iraq on Thursday. Chairman and President Faisal Al-Haimus told Arab News that the new branch in Saudi capital Riyadh will also be the only active Iraqi bank in the Kingdom. (Source: Arab News)

Iraq offered Saudi 186 Investment Opportunities

Saudi Minister of Commerce and Investment, Dr. Majid Bin Abdullah Al-Qasabi, said that Iraq has offered Saudi companies and investors 186 investment opportunities. Speaking at a joint press conference with Iraqi Deputy Prime Minister, Thamir Al-Ghadhban, Al-Qasabi said the two countries have decided to set up a joint Saudi-Iraqi business council to exchange investment opportunities. […]

New Iraq-Saudi Border Crossing to be Hi-Tech

By John Lee. The General Company for Land Transport (GCLT) has held a meeting with its Saudi Arabian counterpart to discuss the opening of the Arar border crossing between the two countries. According to a statement from Iraq’s Ministry of Transport, the participants stressed the importance of the new border facility for commercial trade and […]

Launch of MBC Iraq “sparks Controversy among Iraqis”

By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Saudi media group MBC announced in early February that it will launch a new TV channel — MBC Iraq — aimed at Iraqi viewers. Soon after the announcement, a number of angry responses emerged in […]

Saudi delegation visits Baghdad to discuss new Football Stadium

By John Lee. A delegation from the Saudi Arabian government reportedly arrived in Baghdad on Saturday to discuss the construction of a 100,000-seater football stadium. Saudi Arabia’s King Salman promised last March to build a football stadium in Iraq. According to some reports, it was later announced that Saudi Arabia would increase the number of […]

How Saudi and Qatar are Competing over Iraq

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. As the Gulf crisis continues with the rivalry between Saudi Arabia and Qatar, with no sign of a resolution, each country deems it necessary to seek a rapprochement with […]