ACWA Power, a Saudi-based developer, owner, and operator of power generation and water desalination plants, has signed a Memorandum of Understanding (MoU) with Iraq Energy Institute (IEI), an independent non-profit policy institute, to collaborate on research development projects and enhance capacity building programs that will contribute to the optimum development of Iraq’s energy sector. The […]
Tag Archives | Saudi Arabia
Iraq works to distance itself from US-Iran Tension
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 works to distance itself from US-Iran tension after Saudi Aramco attack Attacks that occurred Sept. 14 against Aramco oil processing facilities in Saudi Arabia, resulting in huge fires and halting near half of the supply from […]
Iraq signs deal to Import Electricity from Gulf States
Iraq has signed a landmark deal with the Gulf Cooperation Council (GCC) for a power line to import 500 megawatts of electricity by 2020, local reports said on Sunday. According to the Iraqi Electricity Ministry, the 300-kilometre line will run from Kuwait to Iraq’s southern port of Faw and be financed by the GCC. Electricity […]
Tags: electricity imports, Electricity In Iraq, featured, GCC, Jordan, Kuwait, mn, Saudi Arabia, Turkey
Saudi-Iraq Border Crossing to reopen in weeks
By John Lee. Commercial operations at the new Saudi-Iraq Arar Crossing will begin on a trial basis on 15th October. Saudi Arabia’s Ambassador to Iraq, Abdul Aziz Al-Shammari, and Iraqi Ambassador to Riyadh, Qahtan Al-Janabi, made the announcement during a visit to the crossing point. The Saudi town of Arar is 70 kilometers from the […]
Cabinet approves Draft Law on Public-Private Partnership
The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mr. Adil Abd Al-Mahdi. It approved: the recommendation of the Ministerial Energy Council on the service contract for Al-Mansuriyah oil field in Diyala province; a draft law on public-private partnership to strengthen cooperation between government agencies and the […]
Tags: Basra News, Cabinet, featured, Iraqi Cabinet, Kuwait, Mansuriyah, mn, Public-Private Partnership, Safwan, Saudi Arabia
Saudi Border Crossing to Officially Reopen in Oct
By John Lee. The Arar border crossing between Saudi Arabia and Iraq will reportedly officially reopen in October. It was closed in 1990 following Iraq’s invasion of Kuwait. According to Gulf News, some pilgrims are currently being allowed to pass through the crossing to participate in next month’s Haj. (Source: Gulf News)
Iraq could surpass Saudi Arabia in Oil Production
By Padraig O’Hannelly. A senior oil executive has predicted that Iraq could surpass Saudi Arabia as an oil producer. Addressing delegates at CWC‘s Iraq Petroleum conference in London, Majid Jafar (pictured), CEO of Sharjah-based Crescent Petroleum, said: “Iraq is hugely underexplored. We at Crescent know of 300 structures just in the Western Desert that have […]
Tags: Crescent Petroleum, CWC, featured, Iraq Oil Production News, Iraq Petroleum 2019, mn, OPEC, Saudi Arabia, Sharjah, United Arab Emirates (UAE), Western Desert
Iraq “has a Role to Play” in Reducing Middle-East Tensions
By Padraig O’Hannelly. Following the increase in tensions in the Gulf region in recent weeks, two British diplomats have expressed the view that Iraq could have a positive role to play. Addressing delegates at CWC‘s Iraq Petroleum conference in London, the British Ambassador to Iraq, Jonathan Wilks CMG, said: “Iraq is strong enough now to […]
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 […]
Tags: Arabian Drilling Company (ADC), drilling, featured, Industrialization & Energy Services Co (TAQA), mn, Moelis & Company, Rothschild, Saudi Arabia, Schlumberger
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. […]