From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Inside story: Iraqi debt payment to Iran highlights Iran-Saudi-US dynamics Iraq's clearing of part of its debts to Iran has given rise to speculations of a US green light for direct transfers to […]
By John Lee. The Iraqi Minister of Electricity, Ziyad Ali Fadel, has attended the ceremony to mark the start of work on the electrical interconnector between Iraq and Saudi Arabia. The 1GW line will connect between the Saudi city of Arar and Yusufiya in western Baghdad. GCC Interconnection Authority (GCCIA) hosted the event in Dammam, […]
By Sinan Mahmoud for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Who is Iraq's first female ambassador to Saudi Arabia? Safia Al Suhail, an experienced Iraqi politician and former ambassador in Rome and Amman, made history on Monday as she […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Aramco Eyes Major Opportunity In Iraq Following the recent China-brokered resumption of relationship deal between historical enemies Saudi Arabia and Iran, a deal for the Kingdom to develop two key […]
By John Lee. The Saudi ambassador to Baghdad, Abdulaziz Al-Shammari (pictured), has revealed the signing of a contract between Saudi Arabia and Iraq for a significant investment project near Baghdad International Airport (BIAP). In a statement to the state-run Iraqi News Agency (INA), Al-Shammari said the contract involves an investment of up to one billion […]
Stressing the need to carry out an agreement on security cooperation between Iran and Iraq, the foreign ministers of the two countries weighed plans for stronger regional collaboration. In a telephone conversation on Thursday night, Iranian Foreign Minister Hossein Amirabdollahian and his Iraqi counterpart Fuad Hussein talked about the latest status of bilateral relations between […]
By John Lee. Saudi Arabia's sovereign wealth fund has reportedly capitalised its new Iraq fund with $3 billion. The Saudi-Iraqi Investment Company, which will have its headquarters in Saudi Arabia, is part of a $24-billion initiative announced last year. According to Alarabiya, the acting CEO will be Muteb Alshathri. More here. (Source: Alarabiya)
By John Lee. Iraq's Ministry of Oil has issued a "clarification" on its previous statement regarding involvement of Saudi Aramco in the Akkas field in Basra. On Thursday, the Ministry originally stated that it had an agreement with Saudi Aramco to invest in the field. Later in the day, it issued a clarification, saying that […]
By John Lee. [Correction: After publication, the Oil Ministry issued a "clarification", stating that Aramco is merely "studying cooperation mechanisms" with regard to Akkas.] Iraq's Minister of Oil has announced an agreement with Saudi Aramco to invest in the development of the Akkas gas field in Anbar province. During his participation in the Iraqi-Saudi Coordination […]
By John Lee. Saudi Arabi'a Arab National Bank (ANB) has announced an investment of $38.2 million to create Arab Bank Iraq. ANB will have a 20-percent stake in the new bank. The full statement from ANB is as follows: Arab National Bank announces the approval of the Board of Directors on 14/5/2023 after obtaining the […]
By Dr Renad Mansour for World Politics Review (WPR). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Regional Reintegration Is Still a Work in Progress In early March, Iran and Saudi Arabia announced that they had reached a deal to reestablish diplomatic ties […]
By John Lee. Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, held a meeting in Riyadh with Iraqi Minister of Electricity, Engineer Ziad Ali Fadel. During the meeting, they discussed the developments in the electrical interconnection project between the two countries. This project will contribute to supporting the reliability of […]
