AGP Executive Report
Last update: 7 hours agoRed Sea Disruption: Two Saudi crude tankers bound for China and India turned back after Houthi warnings of a Red Sea blockade, adding to shipping risk around Bab el-Mandeb and Strait of Hormuz. Oil Market Pressure: Saudi crude exports fell to the lowest on record in May as Iran-related conflict and regional shipping disruptions hit loadings; Brent pushed back above $90 as the US-Iran standoff dragged on. ASEAN Energy Security: ASEAN foreign ministers met in Manila, urging an immediate halt to Middle East fighting and calling for the safe reopening of Hormuz, with talk of an oil-sharing mechanism as regional dependence on Gulf supplies leaves economies exposed. India Supply Fallout: India’s state refiners suspended Iraqi crude loadings amid Hormuz risks, while India also shifted crude sourcing toward Russia and Latin America as Gulf flows tightened. Gas & Power Projects: ADNOC approved the $6.2bn Umm Shaif Gas Cap FID to boost UAE gas and LNG; Ireland is set to use a CO2-based battery to store renewable power for up to eight hours. Grid Storage in Action: Emerson will support Adani Green’s Khavda BESS with SCADA software for large-scale renewable integration.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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