Egypt, Iraq to Establish Firm to Boost Bilateral Ties in Oil Sector

Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla during his meeting with Iraqi Ambassador to Cairo, Ahmed al-Dulaimi (Asharq Al-Awsat)
Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla during his meeting with Iraqi Ambassador to Cairo, Ahmed al-Dulaimi (Asharq Al-Awsat)
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Egypt, Iraq to Establish Firm to Boost Bilateral Ties in Oil Sector

Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla during his meeting with Iraqi Ambassador to Cairo, Ahmed al-Dulaimi (Asharq Al-Awsat)
Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla during his meeting with Iraqi Ambassador to Cairo, Ahmed al-Dulaimi (Asharq Al-Awsat)

Egypt and Iraq discussed strengthening bilateral relations in the oil and gas sector through operating Egyptian oil companies in Iraq and establishing a join company to implement projects.

Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla said that the agreement to import 12 million barrels of Iraq’s crude oil is still active, noting that the six-month deal is renewed regularly.

The Egyptian petroleum sector is ready to reinforce the presence of its companies in Iraq in the coming period with various oil, gas, and petrochemical activities, announced Molla during his meeting with the Iraqi Ambassador to Cairo, Ahmed al-Dulaimi.

The Egyptian Ministry of Petroleum and Mineral Resources issued a press release, a copy of which was obtained by Asharq Al-Awsat, noting that Cairo discussed sending Egyptian experts in the field of oil refining to train Iraqi personnel.

The two officials also agreed to train the cadres in this vital industry and meet Iraqi needs.

During the meeting, Molla stressed the importance of permanent coordination and continuous consultations between the oil and gas sectors of both countries to enhance cooperation.

The Iraqi ambassador said his country's government is keen to boost bilateral relations and open new horizons for cooperation backed by the full support of the political leadership in both countries.

He stressed the importance of using distinguished Egyptian expertise, especially in the field of energy, noting that Egypt’s success, distinction, and experience will benefit Iraq at this important stage that is witnessing a shift towards investment, development, and reconstruction.



Saudi Arabia, US Commit to Deeper Economic Ties with Energy, Industry Deals as Trump Visits Riyadh

Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)
Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)
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Saudi Arabia, US Commit to Deeper Economic Ties with Energy, Industry Deals as Trump Visits Riyadh

Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)
Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)

Saudi Arabia and the United States signed on Tuesday energy and industry agreements as President Donald Trump visited Riyadh where he was welcomed by Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister.

“The United States and Saudi Arabia share a commitment to deeper economic integration, underscoring the Kingdom’s pledge of expanding cooperation in critical sectors such as health, energy, and science,” said White House in announcing the agreements.

The US Department of Energy and Saudi Ministry of Energy concluded an agreement for cooperation in the field of energy exchanged by Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and US Secretary of Energy Chris Wright.

“This agreement builds upon their strong existing relationship; it will focus collaboration on examining the potential for innovation, development, financing, and deployment of energy infrastructure,” said the statement.

The Saudi Ministry of Industry and Mineral Resources and US Department of Energy signed a Memorandum of Cooperation to collaborate on mining and mineral resources. “The agreement contributes to economic development and the diversification and resilience of critical mineral supply chains,” added the statement.

NASA and the Saudi Space Agency signed an agreement for a CubeSat to fly on NASA’s Artemis II test flight. Saudi Arabia’s CubeSat will measure aspects of space weather at a range of distances from Earth and deploy in high Earth orbit from a spacecraft adapter on the Space Launch System rocket after the Orion spacecraft is safely flying on its own with its crew of four astronauts.

The US and Saudi Arabia recently agreed to modernize the Air Transport Agreement to allow US airlines to carry cargo between Saudi Arabia and third countries without needing to stop in the United States, an important right for cargo hub operations. Saudi carriers will have the same rights to serve the United States.

Trump had arrived in the Kingdom earlier on Tuesday on his first overseas trip since his reelection. He will next visit the United Arab Emirates and Qatar.

Saudi Arabia and the United States also signed the largest defense sales agreement in history, worth nearly early $142 billion.