Tag Archives | Saudi Arabia

Jacobs signs MOU with Iraq Oil Company

US-based Jacobs has signed a Memorandum of Understanding (MOU) with the Iraq Oil Company to explore mutual benefits of cooperation in the region of Basra, Iraq. The vast majority of Iraqi oil production takes place in Basra. Iraq Oil Company is looking for business partners based in the Kingdom of Saudi Arabia to support economic […]

Iraq’s Fifth Licensing Round

By Alessandro Bacci. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil has repeatedly said that it would like to renegotiate the terms of its service contracts with the international oil companies (IOCs) to link the fees the companies receive for […]

Saudi, Iraq sign 18 Major Energy Deals

By John Lee. Saudi Arabian companies have signed 18 agreements with the Iraqi government to jointly develop several key projects in the energy sector. The statement from the Iraqi Oil Ministry gave little detail, but quotes the Saudi Minister of Energy Khalid Al-Falih as saying that Saudi companies are keen to develop relations with Iraq, […]

Saudi Bottler to Open New Plant in Iraq

By John Lee. A Saudi-based bottling company is reported to be planning to open a new factory in Iraq next year. According to The National, Aujan Coca-Cola Beverages Company (ACCBC), a subsidiary of Aujan Group Holding, will invest up to 250 million Saudi riyals ($67 million) over the next two years, creating for more than […]

Trade Bank of Iraq to establish Saudi branch

By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly received verbal approval from the Saudi Arabian Monetary Authority (SAMA) to open a branch in Saudi Arabia next year. Chairman Faisal Al Haimus told The National in Abu Dhabi that the bank will launch an asset management business in Abu Dhabi. The lender […]

Will Iraqi-Saudi Rapprochement Undermine Iran’s Role in 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.  Iraqi-Saudi relations have witnessed significant improvement after years of boycott that had worsened during Nouri al-Maliki’s rule between 2006 and 2014. On Oct. 22, the establishment of a Coordination […]

Saudia Resumes Flights to Baghdad after 27 years

Saudi Arabian Airlines (SAUDIA), the national carrier of Saudi Arabia, began operating nonstop flights between the airline’s hub in Jeddah and the Iraqi capital city of Baghdad on Monday. The route will commence as a daily service until November 15, with double-daily frequency thereafter. A single-class Airbus A330 will be deployed on the route, featuring […]

First Saudi-Iraq Air Route in 27 years

By John Lee. Saudi Arabian budget airline Flynas is reported to be planning to start services to several Iraqi cities in the coming weeks. If the plan goes ahead, it would be the first service between the two countries since Saddam Hussein invaded Kuwait in 1990. (Source: Middle East Eye)

Anbar Locals Warn Against Re-Opening Border Crossing

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Locals in Anbar celebrated when an important Iraqi-Jordanian border crossing was recently reopened. But the drivers who use it say many areas are still too dangerous to pass through. When […]

Iraqi Farmers fight against Imported Goods, Corruption

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  The Tureibil crossing, or more commonly known as the Karameh border crossing, between Jordan and Iraq reopened in early September in tandem with the opening of another border […]