H.Res.599 – Urging the European Union to designate Hizballah as a terrorist organization.

On July 18th, a bill urging the EU to designate Hizballah as a terrorist organization, continue efforts to thwart Hizballahs criminal and terrorist activity and deepen joint US-EU relations regarding Hizballah was introduced to the US House.

Saudi Arabia installs 750,000 solar panels to power its luxury Red Sea Project

750,000 solar panels were installed in Saudi Arabia to generate power for the Red Sea Project. The project will also include the world’s largest battery to help generate power at night. It will have a storage capacity of 1,200 MWH. Saudi Arabia adds to its growing list of coastal renewable projects in pursuit of its Vision 2030 plans.

H.R.3020 – Reinforcing Sanctions on Iranian Terrorists Act

On April 8th, a bill to provide for the application of sanctions regarding Mahan Air was introduced to the House.

Gulf Energy wins $100mln contract extensions in Oman

National Energy Services Reunited (NESR) announced that its Oman-based subsidiary, Gulf Energy, has extended existing intervention contracts with multiple clients. These contract extensions of up to five years amount to around US$100mn. NESR CEO and Chairman stressed how the contracts further Gulf Energy’s objective of localizing its operations by “hiring and training Omanis, and cultivating Omani R&D and manufacturing.” 

OPEC+ compliance rises to 122% in December, sources say

OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their output – compared to 117% in November. The International Energy Agency said this week that the group missed its production targets by 790,000 barrels per day (bpd) in December – mainly due to Western African members failing to raise output. Compliance from members of OPEC was at 127% in December, while non-OPEC producers in the alliance achieved a compliance of 114% (Reuters). 

Oil rebounds by almost 5% on Omicron hopes, Iran talks

Brent crude rose $3.20, or 4.6%, to settle at $73.08 a barrel. U.S. West Texas Intermediate crude rose $3.23, or 4.9%, to settle at $69.49 a barrel. Iraq’s Oil Minister expects oil prices to reach over $75 and added that OPEC is trying to “positively contain” the energy market. Parallely, Saudi Arabia raised official selling prices for all crude grades sold to Asia and the United States. This follows the latest vote of the OPEC+ group in favor of continuing increasing monthly supply by 400,000 barrels per day (bpd) in January. Oil was also buoyed by diminishing prospects of a rise in Iranian oil exports after indirect U.S.-Iranian talks on saving the 2015 Iran nuclear deal broke off last week. 

Congressional Record – Iran–America’s Greatest Threat

Representative Bryan Steil (R-WI-01) briefed the House on Iran’s threat to American safety.

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