AGP Executive Report

Hormuz Transit Update: Iraq’s president said Iran is granting “facilities” for some Iraqi oil tankers to pass through the Strait of Hormuz, as Baghdad tries to keep exports moving despite attacks and reduced traffic. Geopolitics & Supply Risk: The strait remains a flashpoint in the Iran–US standoff, with Iraq also pushing alternative routes via Turkey’s Ceyhan and plans through Syria and Jordan. Ukraine Energy Disruption: Ukrainian drones hit Russia’s Novokuibyshevsk oil refinery and an Ozon logistics site in Samara, triggering fires and raising pressure on refining and fuel flows. Power Infrastructure Incident: A fire broke out at a thermal power plant in Yeosu, South Korea, with 78 firefighters deployed after coal-dust equipment caught fire. Renewables Push: Kazakhstan said it quadrupled its renewable share over six years, while India is expected to add 45–50 GW of renewables annually for the next two years. Grid & Storage Buildout: India’s regulator cleared nearly 1,800 km of LPG pipelines, and NTPC Renewable Energy won a 500 MW SECI tender at ₹6/kWh. Energy Security Diplomacy: Germany’s foreign minister visited Kyiv to discuss defense and winter preparations, including generators and protection for energy infrastructure. Regional Gas Strain: Yemen’s Aden faces worsening household and vehicle gas shortages, with queues, scarcity, and profiteering concerns. Maritime Crime: Somali pirates hijacked an oil products tanker off Yemen, part of a renewed surge in Gulf of Aden attacks.

Refining Restart Watch: Trinidad and Tobago’s Pointe-a-Pierre refinery is drawing fresh investor interest as demand for refined products rises, with the government aiming for a quicker restart of some operations. Oil Sands Expansion: Cenovus outlined a DilSAP expansion at Spruce Lake, adding a 3.5-kilometre underground diluent pipeline and targeting lower emissions per barrel and higher output. Gas Network Push: India and Mauritius agreed to expand biofuels cooperation and energy security, including ethanol blending know-how and assured petroleum supplies. Domestic Gas Stress: Alaska warned BlueCrest to speed up Tyonek gas development or face lease action, while Whittier’s natural gas outage is set to ease as LNG supply equipment arrives. Power & Grid Security: Cuba reported another theft of dielectric oil at the La Vallita substation in Camagüey, threatening transformer cooling and raising blackout risk. Market Pulse: European natural gas prices jumped again, driven by Strait of Hormuz shipping disruptions and fears for winter supply buffers. Energy Transition Politics: California’s senator demanded resignations over controversial replacement tire rules approved by the state energy commission. Data-Center Power Demand: CoVolt Power filed for a US IPO to build grid infrastructure as data centers strain electricity supplies. Waste-to-Fuel: A Vanuatu facility is turning used oil into reusable heavy fuel via distillation, aiming to cut unsafe disposal and manage emissions.

Middle East Oil Shock: Oil prices stayed supported for a second weekly rise as the US-Iran standoff keeps Strait of Hormuz supply risks front and center, with Brent and WTI still elevated despite small daily moves. Iran-China Supply Squeeze: Reuters reports Iranian crude offers to China have fallen sharply as US blockade pressure bites, pushing some Chinese refiners to seek alternatives. Iraq Route Diversification: Iraq says it has secured alternative export routes and is pushing output toward 8–10 million bpd over six years to offset Hormuz disruptions. Ukraine Strikes on Energy Assets: Zelenskyy said Ukrainian forces hit a Russian Lukoil refinery and an airfield, underscoring how energy infrastructure remains a war target. Grid & Storage Push: The UK launched a £28m ultra-long duration energy storage challenge for clean power storage beyond 100 hours, while India’s MC²+ Ignite backs ~30 deep-tech energy startups and India’s ISGF/LDES Council signed an MoU to scale long-duration storage. Battery & Clean Tech Industry: LG Energy Solution began production at a US battery plant in Michigan, and EVE Energy reported strong first-half growth tied to energy storage batteries. Markets Watch: Indian Sensex and Nifty ended flat as crude oil and bond-yield worries kept investors cautious. Policy & Land-Use Debate: A new Philippines-focused critique warns agrivoltaics could become a “green land grab” without safeguards for farmers, crops, and grid costs. Local Governance: An Oconomowoc council denied a gas station’s request to add bar operations, limiting on-site liquor sales.

AI Power Demand: Data centers are already a major electricity user in the US and could drive a sharp jump in demand by the late 2020s, raising grid and utility-rate pressure. Middle East Oil Risk: The US is moving to keep oil flowing through the Strait of Hormuz while Trump signals tougher sanctions on Iran-linked actors, pushing crude higher and rattling markets. Nuclear Caution: A Philippine lawmaker urged the government not to take shortcuts on nuclear energy, stressing long lead times for training and readiness. US Power Buildout: Entergy broke ground on a 446-MW natural gas plant in Arkansas to replace an aging unit and support reliability. Hydropower Restart: Xcel resumed work on the Cedar Falls dam project, with key spillway-gate work targeted for 2027. Renewables Licensing: Portugal approved priority zones to speed solar and wind permitting across hundreds of areas. Gas Prices Watch: US fuel costs stayed volatile but eased in parts of the country, with GasBuddy reporting several local “lowest” regular and diesel prices for the week ending Aug. 15. Safety Incidents: A gas leak triggered evacuations near Jaffray, Canada, while a separate US pipeline rupture required “re-light” work for affected customers. Finance for Clean Energy: Swift Current secured a $750M corporate credit facility to fund US clean-energy development.

Middle East Energy Security: Iran’s central bank says oil exports have fallen to zero under war and US sanctions, while the US has reportedly kept a secret Hormuz shipping corridor moving about 10 million barrels a day—helping ease supply pressure even as crude stays supported by navigation fears. Oil & Gas Attacks: Ukraine drone strikes hit Russia’s TANЕCO refinery in Tatarstan and the Tamanneftegaz terminal plus a key substation in Krasnodar Krai, targeting fuel logistics for Crimea. Gas Market Signals: Colombia’s gas industry investment is set to rise 17% in 2026 as it tries to close a looming supply deficit; Germany’s gas storage is only about half full, raising winter risk. Renewables & Grid Constraints: India’s renewables face curtailment from transmission bottlenecks, with many projects on temporary access; UKRI backs ultra-long energy storage research (£28m). Storage & Clean Power Buildout: Harmony Energy energised a 35MW/70MWh BESS in North Yorkshire; Capital Dynamics bought a ready-to-build long-duration BESS project in Ireland. Bioenergy & Methane: A UK-funded push targets livestock methane cuts via small-farm anaerobic digestion; Malaysia is using bats as bioindicators in oil palm landscapes. Project/Deal Watch: India’s Indian Oil is close to a 2027 LPG import deal with Algeria’s Sonatrach, while SJVN Green Energy invited bids for up to 1,000 MW solar EPC in Punjab and Rajasthan.

Hormuz Oil Route: The U.S. has quietly set up a shipping corridor through the Strait of Hormuz, with 15–20 tankers reportedly transiting nightly and exports near 10 million barrels a day, even as fears of renewed targeting keep crossings choppy. Iran Supply Shock: Iran’s central bank governor says oil exports to foreign markets have “practically ceased,” adding to supply anxiety. Market Mood: Rising oil and a weaker peso dragged the Philippines’ PSEi down 1.7% as investors turned cautious. Gas Prices at the Pump: In the U.S., weekly local reports show premium and diesel prices still elevated in many areas, while some places see lower premium or E15 offers—highlighting how Middle East shipping risk keeps volatility alive. Natural Gas Watch: U.S. natural gas futures jumped to a near four-week high on hotter weather forecasts and expectations for the upcoming storage report. Energy Costs Hit Households: A Nebraska food bank says higher gas spending is forcing tighter budgets, with more families cutting back on food. Legal/Regulatory: Australia’s Federal Court upheld an appeal that quashed a $25m energy retailer overcharging penalty, a reminder that enforcement fights can swing quickly.

Middle East Oil Shock: Oil prices pushed higher for a fourth straight day as US-Iran ceasefire hopes faded and Strait of Hormuz risks returned, rattling markets from India to Southeast Asia. Market Fallout: India’s Sensex and Nifty slid again, while the Philippines’ PSEi fell 1.7% on rising crude and a weaker peso. Grid & Policy Moves: India’s Central Electricity Authority notified new cybersecurity rules for power sector entities (including large energy storage) starting April 1, 2027, and the Philippines’ energy regulator set a “no-adjustment” approach for long-term gas supply deals to keep electricity rates fixed for up to 25 years. Energy Infrastructure & Industry: Origin Energy will automate inspections across 750 km of Queensland gas pipelines using a digital twin, while Lloyd’s Register is supporting an LNG carrier-to-FSU conversion for Gabon’s offshore gas push. Renewables & Manufacturing: Websol Energy shifted a planned 4 GW solar cell/module plant from Andhra Pradesh to West Bengal, and Kenya tripled its long-term renewable target to 5,500 MW. Security & Supply: Bulgaria said it’s ready to increase gas transit to Ukraine, and Iraq approved a three-month plan to export crude via alternate routes as Hormuz disruptions persist.

Oil Market Jitters: Oil prices climbed for a fourth straight day as U.S.-Iran tensions dragged on and Strait of Hormuz risk kept supply fears front and center, with Brent around $91 and WTI near $85. Wall Street Spillover: U.S. stocks slid as rising bond yields and higher oil prices spooked investors, adding pressure to consumer and business costs. Gas Prices at the Pump: In the week ending Aug. 8, AAA and local reports pointed to volatile fuel pricing—national regular rose to a record high for mid-August, while some counties still saw standout deals like $3.69 E15 in Lawrence County and $3.49 regular in Donley County. Power Under Fire: Russia struck Ukraine’s DTEK thermal plants, forcing a halt, while a separate blast in Syria’s Al-Jabsah gas plant disrupted gas flow and power generation, with sabotage suspected. Bankruptcy Fight: Pleasants Power Station’s Chapter 11 case escalated into a control battle, with motions arguing the filing was timed to use bankruptcy protections. Renewables & Storage Moves: AHAsolar won consultancy work for large solar and BESS projects in India, and LG Energy Solution started production at a new Lansing battery plant. Local Energy Policy: Blaine, Minnesota weighed gas and electric franchise fees as an alternative to recurring property tax hikes.

Oil Market Shock: Crude jumped above $90 as US-Iran ceasefire hopes faded and Strait of Hormuz supply risks returned, with tanker traffic reportedly slowing to a trickle; the move is also feeding into higher bond yields and inflation fears. Power & Grid Reliability: Nepal’s energy minister said tripping can’t stop immediately because generation plus transmission and distribution upgrades are still underway, while exports/imports of electricity were reported for the last fiscal year. Renewables Overtake Fossil Capacity: India crossed a milestone where clean energy installed utility capacity surpassed fossil fuel capacity, led by solar growth, even as coal still dominates generation. Nuclear Watch: Egypt accused Rosatom of safety and construction violations at El Dabaa, including foundation and concrete defects and unauthorized access, while Ukraine derailed an IAEA chief visit to Zaporozhye. Project Moves in Renewables: Inox Clean Energy completed its ~INR 6,000 crore acquisition of Vena Energy India, adding ~1 GW operational renewables plus solar/wind and BESS pipeline. Industrial Fuel Shift: Bombay Logistics started commercial LNG truck operations in Karnataka for JSW Steel, targeting up to 20% better fuel efficiency. Safety Incidents: A gas leak at Indo Amines’ Mahad plant in India killed one worker and temporarily halted operations; Syria reported three deaths in an explosion at a coastal thermal power plant.

Renewables Deal: Turkey and Saudi Arabia plan to expand their renewable partnership by adding 3,000 MW, bringing the total planned capacity to 5,000 MW, with the new agreement expected to be signed at the UN climate conference in Antalya. Brazil Oil Find: President Lula called Petrobras’ new offshore discovery near the Amazon coast a “passport to the future,” as environmental groups continue to challenge drilling permits and spill/climate risk assessments. Grid & Storage Policy: India’s Uttar Pradesh Electricity Regulatory Commission proposed new 2026 grid code rules to better integrate renewables, energy storage, flexible resources and demand response. US Supply Shock Watch: The US Strategic Petroleum Reserve fell to 293.4 million barrels, the lowest since 1982, as emergency releases tied to Iran-related supply concerns continue. Market Pulse: US stocks slipped as oil rose on US-Iran stalemate worries and higher yields; gold also edged up as investors weighed geopolitics and rate expectations. Gas Prices (US): Pump prices eased in some places but stayed volatile overall—AAA and GasBuddy point to crude and shipping risks around the Strait of Hormuz as key drivers, with Idaho’s regular average reported at $4.42 and Connecticut gasoline averaging $4.01. Data-Center Power Buildout: Private equity backed a Kildare gas-turbine specialist (OFS) to serve data center demand, while regulators in Alberta rejected a proposed gas power plant for an AI data centre near Olds.

Hydrogen grid build-out: India’s RECPDCL handed over the Vizag Power Transmission SPV to Adani Energy Solutions for an INR 8,386-crore project to back green hydrogen and green ammonia plans in Andhra Pradesh. Battery push in India: Ola Electric expanded its Shakti storage lineup (home to grid scale) using indigenous LFP tech, while NTPC Simhadri will host a pilot to test Meine Electric’s iron-air long-duration battery for utility operations. EV charging payments: Pulse Energy connected 10,000+ EV chargers to BHIM UPI via Unified Bharat eCharge, aiming to cut app and wallet fragmentation for drivers. Oil market pressure from Middle East risk: With Strait of Hormuz traffic sharply reduced, shipping is down and Brent sits around $89/bbl; analysts note crude supply “escapes” are limiting price spikes. Power and fuel economics: Shell Pilipinas swung to a first-half net loss as crude volatility squeezed margins; in the US, gas prices rose in Michigan and Chattanooga, while Canada’s inflation outlook may be hit by higher gas costs. Regional energy growth: Laos reported 8.6% higher electricity generation in H1 2026 as it leans on hydropower exports. Ukraine energy attacks: Naftogaz said Russia struck its facilities 13 times in a week, damaging equipment and production capacity.

Energy Aid: Tri-County Opportunities Council says LIHEAP applications open Oct. 1, with help for natural gas, propane, electricity bills and furnace assistance, using income caps tied to state median income. Household Costs & Inflation: New Zealand’s food inflation eased to 1.9% y/y in July, while power and gas pressures stayed upward, keeping the cost-of-living story tense. Solar Rules: Papua New Guinea’s energy minister says grid-connected rooftop solar is now available for households and businesses in PNG Power Limited areas, with systems needing NEA registration and licensed installation. Data Centres Oversight: New South Wales will fast-track data centre assessments only if builders meet new water and energy standards, with regulators reviewing charges and operators held to “clear expectations.” UK Estate Upgrades: Proposed energy-efficiency rules could force King Charles and Prince William to spend up to £10m upgrading rental properties to EPC C by 2030. Market Watch: GasBuddy reports show U.S. fuel prices easing from spring highs but still volatile, with local “lowest” midgrade and diesel prices tracked for the week ending Aug. 8. Geopolitics & Energy Security: Russia claims strikes on Odessa targeting ships and oil tankers used for Ukrainian military fuel and cargo.

Grid Shock: An explosion near Libya’s Zawiya power plant knocked out multiple generation units, triggering a blackout across Tripoli and the western coast as crews work to stabilize the grid. Industrial Decarbonisation: Bangladesh’s CPD urges renewable energy plus financing and regulatory reforms to cut emissions in the ready-made garment sector, warning “carbon lock-in” limits gains from efficiency alone. Energy Security Timeline: Bangladesh’s finance minister says power and gas shortages will take at least two years to fix, with LNG terminals and storage being finalized and transmission a key bottleneck. AI Power Demand Politics: US states push “fair share” rules for data centers, shifting costs toward operators as AI drives a surge in electricity needs. Diesel Tightness: Global diesel supply strains as Middle East and Russia exports fall and inventories tighten, keeping crude prices supported. Oil-Price Risk Premium: Oil climbed on tanker attacks and stalled US-Iran peace talks, with Hormuz disruption still driving insurance and logistics costs. Local Fuel Subsidy Execution: The Philippines’ LTFRB moves to speed payments to fuel-discounted stations under a P12 per liter cut. Market Volatility Watch: India braces for a choppy week as Fed minutes, US-Iran risk, and crude prices steer sentiment. Infrastructure Upgrade Support (UK): South Ayrshire households near pylons/substations get up to £250 a year off bills for up to 10 years to back grid upgrades for renewables. Domestic Production Push (Türkiye): Türkiye reports strong first-half output, with domestic oil at 23.1 million barrels and natural gas above 1.6 bcm. Data Center Referendum Fight (Ohio): Ohio’s Supreme Court blocks local officials from stopping a referendum on an Ashville data center and gas plant deal.

Middle East Shipping Crisis: Iran says it’s battling a major oil spill in the Strait of Hormuz, with reports of slicks affecting parts of its coastline near Qeshm Island and concerns that the spill may be linked to the wider Iran–US shipping war that has disrupted tanker traffic. Oman Response: Oman’s Environment Authority reports about 12 km of coastline affected in Ras Madrakah near Duqm, while saying Masirah Island shores have seen no significant impact so far and tracking shows the slick moving offshore toward the open sea. Market Pressure: With Hormuz disruptions tightening global flows, US gasoline prices are reported around record levels for mid-August, and analysts warn fuel-importing countries like Kenya could face higher refined-product costs as inventories fall. EU Emissions: Eurostat data shows EU greenhouse-gas emissions rose 0.3% in Q1 2026, with the biggest jump in electricity, gas, steam and air-conditioning supply. North Sea Politics: UK Scotland’s PM is facing renewed calls to block Rosebank and Jackdaw, with campaigners warning of large lifetime carbon impacts. Power Sector Incidents: Bulgaria’s Bobov Dol coal plant shut down after a steam generator rupture, with repairs expected to finish by Monday. Energy Infrastructure Deals: bp and Venezuela signed agreements to advance offshore gas development, including Loran Phase 2 with an estimated 4 Tcf of recoverable gas. Grid Buildout Trend: US data center demand is driving new power planning, while solar and batteries continue to dominate new US utility-scale additions in early 2026.

Oil Market Jitters: Oil prices jumped more than $1 a barrel as tanker attacks and stalled US-Iran talks kept Strait of Hormuz supply risk front and center, with spillover fears for consumers. Energy Security & Policy: India’s PM Modi used Independence Day to push self-reliance—from semiconductors and critical minerals to nuclear expansion (100 GW by 2047, five reactors this decade) and more solar, piped gas and exploration. Grid Reliability: South Africa’s Eskom reported its best energy availability in six years, with fewer unplanned outages and more coal fleet capacity online. Gas Crunch Impacts Industry: Bangladesh garment exporters asked for installment relief on July-August gas and electricity bills after production was hit by severe shortages. Regional Fuel Shortages: Nepal Oil Corporation began LP gas distribution from five Kathmandu sites amid a cooking fuel shortage. Water Stress Threatens Nuclear: Hungary started controlled sinking of barges near Paks to protect cooling water as Danube levels fall. Environmental Fallout: Oman intensified monitoring and response after marine oil pollution, while a major spill linked to a tanker attack reached Iran’s coastline. Local Energy Costs: South Florida families received free groceries and energy-saving kits as summer bills climb. Investment Moves: Philippines’ Energy Secretary said Middle East firms are interested in investing in oil storage in the country.

Grid Stability: Kyrgyzstan’s power system briefly switched to isolated operation after a disruption tied to Central Asia’s Unified Energy System, but automation and rapid NESK action restored normal supply with no disconnected customers. Nuclear & Uranium: NexGen Energy broke ground on its $2.2bn Rook 1 uranium mine in Saskatchewan’s Athabasca Basin, targeting about 30 million pounds of uranium annually. LNG & Land Use: The U.S. Interior transferred jurisdiction of a historic Calcasieu River parcel to support Venture Global LNG’s Cameron Pass expansion, aiming to lift capacity to 39 mtpa. Middle East Shipping Risk: UAE said Iranian-linked attacks on ADNOC-managed oil tankers in the Strait of Hormuz were piracy, as the corridor remains a key pressure point for global oil and LNG flows. Oil Infrastructure Under Fire: Russia suspended crude exports from the Sheskharis terminal after a drone attack, while Reuters also reported drone-driven disruption at Russia’s Ust-Luga export hub. Power & Renewables on the Ground: Duke Energy crews continued restoring Cincinnati power after major storms, and New Hampshire’s Appledore Island showcased a renewable microgrid running off-grid for research operations. Gas Projects & Markets: Venezuela plans to send about 7 Tcf of gas to Trinidad for processing under the Loran-Manatee development, while Nigeria’s gas infrastructure fund said it’s backing projects to close a $20bn gap. Energy Safety: Brussels saw a fatal gas explosion near Central Station after construction damage to a gas pipe, with supply shut off and checks underway.