AGP Executive Report
Last update: 7 hours agoOil Shock: Brent slipped to about $108 a barrel after Washington waived new Russian energy sanctions, but risks remain acute: Persian Gulf oil exports fell to 8.5 million barrels a day last week, less than half the prior week’s pace, as tanker traffic slowed and a vessel struck a mine in the Strait of Hormuz. War and Energy: Ukraine and Russia traded attacks on energy infrastructure, including Ukrainian drone strikes on Russian oil facilities and Russian strikes on Ukrainian power sites. Houthi threats against Saudi oil facilities add to concern over supply security. Gas Supply: Eni and Libya’s National Oil Corporation have started commissioning a project to capture gas previously flared at the offshore Bouri field. It could add about 700 million cubic metres of gas a year for domestic power generation and exports to Europe. Storage and Infrastructure: BYD says it has delivered more than 650 battery-storage projects and is expanding its global service network. In the US, the administration pledged up to $42 million for permitting and pre-construction work on a proposed Northeast gas pipeline. Europe’s Energy Policy: The European Commission said it has no plans to resume Russian gas imports, despite reported US proposals to revive pipeline supplies.
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