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. By Saleem al-Wazzan. As Saudis Prepare To Open Basra Consulate, Iran Opens Border To Iraqis Iraqis can now visit a special visa-free zone in neighbouring Iran, over the border from […]
By John Lee. Saudi Arabia will reportedly re-open its consulate in Basra within two weeks. Al Arabiya says that the consulate closed in 1990 during the second Gulf war. (Source: Al Arabiya) (Picture: Iraqi Prime Minister Haider Al-Abadi meeting Salman bin Abdulaziz Al Saud, King of Saudi Arabia, 19th June 2017)
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. The reconstruction of Iraq’s liberated Sunni areas will open new horizons for the country, as 400 companies worldwide are engaged in the Reconstruction Fund for Areas Affected by Terroristic Operations […]
By John Lee. Financial Times reports that Iraq will comply with OPEC-led efforts to restrict crude oil production, even as Saudi Arabia said it is striving to boost its export capacity. It quotes Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] as saying that Iraq’s export capacity would reach 5m bpd by the end of this […]
By John Lee. Saudi Arabia's King Salman Bin Abdul Aziz received in Al Yamama Palace in Al Riyadh the Iraqi Planning/Trade Minister (acting) Dr. Salman Al Jumaily, Head of the Iraqi side in the Iraqi-Saudi Coordination Council, Dr. Sami R. Al Araji, Chairman of the National Investment Commission (NIC), Mr. Kadhim Mohamed Al Iqabi, Chairman […]
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 […]
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 […]
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, […]
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 […]
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 […]
By John Lee. Saudi Arabia has appointed Abdulaziz Al-Shammari as its new ambassador to Iraq. Al-Shammari, who has been Charge d'Affaires of the Saudi embassy in Iraq since October 2016, was sworn in on Sunday before King Salman in Riyadh. Relations between the two countries have been improving recently, with high-level visits, the opening of […]
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 […]
