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  • In collaboration with Transport General Authority: first hydrogen-powered taxi pilot project launched in Saudi Arabia featuring Toyota Mirai

    The Transport General Authority (TGA), Abdullah Hashim Industrial Gases & Equipment (AHG), Abdul Latif Jameel Motors, the authorized distributor of Toyota vehicles in Saudi Arabia since 1955, and Toyota Motor Corporation (TMC) have launched a seven-day trial of the Toyota Mirai, a cutting-edge, hydrogen-powered fuel cell electric vehicle (FCEV), as part of a taxi fleet in Jeddah. A first-of-its-kind in Saudi Arabia, the initiative commenced on 20 October and is aimed at assessing the viability of hydrogen as a zero-emission fuel source for Saudi Arabia’s public transportation system, furthering the Kingdom?s ambitions for sustainable and environmentally friendly transportation solutions.

  • China’s Rise in Iraq’s Energy Sector: From Newcomer to Dominant Player

    Chinese energy companies emerged as dominant players in the Iraqi Oil Ministry’s May licensing rounds to auction 29 oil and gas blocks, securing 10 out of 13 oil and gas blocks. Shell was the only Western international oil company to participate, and it did not win any bids. Other Western and U.S. international oil companies showed no interest in bidding, despite improved fiscal terms of the contracts. The resounding success of Chinese firms underscores a significant shift, solidifying Beijing’s already strong position in Iraq’s energy landscape and presenting a substantial challenge to Washington’s strategic position in the region.

  • Iranian Oil Kingpin’s Hedge Fund Manages Millions From London

    The building at 180 Brompton Road is one of the main outposts for Ocean Leonid Investments, a hedge fund overseen by Hossein Shamkhani, the secretive commodities trader whose network is an influential player in both Iran and Russia, according to more than a dozen people familiar with the matter and documents seen by Bloomberg.

  • Expert Views: A US regional response to the security threats posed by Iran and its proxies

    The region remains on edge as Israel contemplates its planned retaliatory strike against Iran, while its wars in Gaza and Lebanon against the Iranian-backed groups Hamas and Hezbollah show few signs of concluding. Both sides’ now year-long effort to reassert deterrence over the other puts the United States in a challenging position — supporting its close regional allies and partners on the one hand, while working to deescalate the situation and prevent a region-wide war on the other.

  • Transcript of Press Briefing: Middle East and Central Asia Department Regional Economic Outlook October 2024

    Let me start with the Middle East and North Africa.  This year has been challenging, with conflicts causing devastating human suffering and economic damage.  Oil production cuts are contributing to sluggish growth in many economies, too.  The recent escalation in Lebanon has increased uncertainty in the MENA region.  The second important issue is on growth.  For 2024, growth is projected at 2.1 percent, a downgrade revision of 0.6 percent from the April WEO forecast, and this is largely due to the impact of the conflict and the prolonged OPEC+ production cuts.  To the extent that these gradually abate, we anticipate stronger growth of 4 percent in 2025.  However, uncertainty about when these factors will ease is still very high.

  • Cheap Solar Panels Are Changing the World

    In the United States, solar accounted for more than half of all new power last year. But the most dramatic growth is happening overseas. The latest global report from the International Energy Agency (IEA) notes that solar is on track to overtake all other forms of energy by 2033. The world’s use of fossil fuels is already plateauing (the U.S., for its part, hit its peak demand for fossil-fuel energy way back in 2007). Energy demand is still rising, but renewables are stepping in to make up the difference. “The really interesting debate now,” Bond said, “is actually: When do we push fossil fuels off the plateau? And from our numbers, if solar keeps on growing this way, it’s going to be off the plateau by the end of this decade.”

  • GCC-Iran engagement heats up as regional war looms

    In the shadow of a potential major escalation between Iran and Israel, Bahrain has hosted an Iranian chief diplomat for the first time in 17 years. Meanwhile, in another first—and amid tension over three disputed islands—Sheikh Mohammed bin Zayed Al Nahyan (MbZ) of the United Arab Emirates (UAE) has met his Iranian counterpart. The session notably took place even as Abu Dhabi was not among regional capitals recently toured by Iran’s chief diplomat. Speaking on condition of anonymity, informed Iranian political sources told Amwaj.media that the lack of a visit to the UAE was deliberate and triggered by the territorial dispute.

  • Saudi broadcaster in Iraqi crosshairs over sniping at ‘heroes of the resistance’

    A diplomatic and security crisis has erupted in Iraq over a Saudi TV channel’s description of slain leaders of Iran-backed armed groups as “terrorists.” Only hours after the report, protesters reportedly aligned with the targeted groups sacked the Baghdad office of Saudi media conglomerate MBC. Given the growing scale of the controversy, Iraqi authorities are moving to cancel the channel’s operating license—eliciting a range of heated reactions. Featuring Saudi journalist Mohammed Al-Mishari, the MBC segment likened assassinated leaders of Iran-backed groups to former Al-Qaeda head Osama bin Laden (1957–2011). 

  • Democrats call for special counsel probe into Kushner over Saudi ties

    Senior Democrats in the House and Senate are calling on the Justice Department to investigate former President Trump’s son-in-law and senior adviser in the White House, Jared Kushner, over possible violations related to lobbying for a foreign government.  The lawmakers describe Kushner as acting as a “Shadow Diplomat” and political adviser to Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud, in exchange for at least $87 million paid out to Kushner’s investment firm, Affinity Partners.

  • Kingdom of Saudi Arabia – TOW 2A & TOW 2B Missiles

    The State Department has made a determination approving a possible Foreign Military Sale to the Kingdom of Saudi Arabia of TOW 2A tube-launched, optically-tracked, wireless-guided, radio frequency missiles (BGM-71E-4B-RF), TOW 2B tube-launched, optically-tracked, wireless-guided, radio frequency missiles (BGM-71F-3-RF), and support and related elements of logistics and program support for an estimated cost of $440 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale today.