Saudi investments in Iran could happen ‘quickly’ after deal to restore ties

15 March 202315 March 2023

Iranian newspapers reporting on the tripartite agreement between China, Iran and Saudi Arabia signed in Beijing the previous day, at a newsstand, in Tehran, Iran, 11 March 2023. EFE/EPA/ABEDIN TAHERKENAREH

Riyadh, Mar 15 (EFE).- Saudi investments in Iran could happen “very quickly” following a Chinese-brokered deal for the two foes to restore diplomatic ties, Saudi Arabia’s finance minister said Wednesday. The agreement struck in China on Friday paves the way for the two regional powerhouses of the Middle East to begin a process of normalizing … Read more

Saudi oil giant Aramco posts record income of $161.1 billion for 2022

12 March 2023

(FILE) An image taken through a bus window showing installations seen at a construction site at an oil facility in the desert at Khurais oil field, about 160 km from Riyadh, Saudi Arabia, 23 June 2008. EFE/EPA/ALI HAIDER

Riyadh, Mar 12 (EFE).- Saudi Arabia’s state oil company Aramco on Sunday announced record profits of $161.1 billion for 2022, a year that saw energy prices soar due to the war in Ukraine and increased demand following the Covid-19 pandemic. The annual profits, up 46.5% from the previous year, are the largest ever recorded by … Read more