26 Sep, 23

Saudi Arabia Considers A Surprising Bet On Iranian Oil And Gas

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The National Iranian Oil Company (NIOC) has revealed that the country has around US$50 billion in oil and gas and related projects now underway, with more to come. Given the precarious state of Iran’s economy, it is unsurprising to find that much of this has been pledged by its two major sponsors, China and Russia. More surprising, though – even with the resumption of relationship deal made on 10 March and related developments – is that Iran is expecting billions of dollars to come from its erstwhile arch-enemy Saudi Arabia.…

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