AGP Executive Report

Maritime Security: Two Filipino sailors were killed after a Saudi-flagged crude tanker incident in the Strait of Hormuz, prompting calls for seafarers’ right to refuse high-risk voyages. Shipping Disruption: Commercial transits through Hormuz have fallen sharply, with only six vessels crossing on Wednesday as Iran-US tensions keep shippers on extra security and reroute plans. Oman-Iran Talks: Iran and Oman have resumed discussions on a joint temporary navigational corridor and mine clearance, though analysts warn oil flows won’t normalize without US sanctions relief. Energy Markets: Brent pushed above $95 amid renewed strikes, while escorts and mine threats keep global supply risk front and centre. Oman Business & Infrastructure: Oman’s Port of Duqm welcomed one of the world’s largest Ro-Ro car carriers (about 9,200 vehicles) to boost GCC-bound logistics. Renewables Pipeline: Oman is tendering advisory services for 3GW solar IPPs, signaling continued scale-up of clean power. Hospitality Investment: Muriya plans to add around 1,000 hotel rooms across Hawana Salalah and Jebel Sifah over the next 3–5 years. Capital & Consumer Sectors: Carlyle-backed VLCC raised Rs 110 crore from BlackSoil Capital to fund growth, while Kotak Alts appointed a new head for PE/VC operations. Trade & Policy: India’s commerce minister said the US trade pact will be finalized once Washington offers preferential terms; India also urged textiles firms to leverage tariff advantages from its expanding FTA network.

Strait of Hormuz Shock: US President Donald Trump floated renaming the Strait of Hormuz as the “Trump Strait,” claiming Washington has control—while the waterway remains shared between Iran and Oman and is vital for global oil and gas flows. Maritime Safety & Losses: A security incident in the strait killed two Filipino seafarers aboard Bahri’s SIDR, with the ship grounded off Oman after projectiles hit near Musandam. Escalation Risks: Fresh US-Iran strikes resumed after a lull, with Iran reporting missile/drone attacks across Bahrain, Kuwait and Jordan, and the US targeting IRGC air defence, radar and mine-laying capabilities. Oman Energy Snapshot: Oman’s oil output rose 11.3% to 233.80 million barrels by end-July 2026, while oil exports reached 181.93 million barrels; Opec+ is also expected to keep October output policy unchanged. Regional Business Links: Egypt and Oman discussed joint industrial zones to deepen supply chains, and Oman-Saudi coordination continued in Salalah. Oman Travel Advisory: The US kept Oman at “Level 3: Reconsider Travel,” citing terrorism and armed-conflict risk tied to Iran-related threats.

Drone Medical Logistics: Oman’s “Sky Bridge” moves into its second phase, launching the “Sahm (Arrow)” drone mission from Dhofar to deliver about 150kg of medical supplies to Al Halaniyat, testing drone air-cargo for remote logistics. Cold Chain & Trade: GWC Group completed one of its first frozen bulk vessel operations in Oman, extending cold chain from port handling and storage to cross-border distribution into Qatar, plus road shipments to Qatar and Kuwait. Shipping & Energy Risk: Oil prices held near recent highs as US-Iran strikes and reported tanker incidents kept Strait of Hormuz disruption fears elevated, with Brent around $95 and WTI near $90. Hormuz Security Pressure: Iran claims mines hit two commercial vessels and warns of penalties for ships using “illegal” routes, while US forces say they struck Iranian military targets tied to threats against shipping. Oman Business & Infrastructure: Madinat Al Irfan’s Business Park Phase Three is progressing in Muscat toward a 2028 handover, adding office, retail and community spaces linked to major anchor tenants. Banking Tech Agenda: MEBIS 2026 in Dubai (Sept 16–17) spotlights AI-driven banking transformation, including AI agents, real-time payments and governance needs. Public Services Rollout: Muscat’s unified address system is entering sign manufacturing and installation after street naming and address verification, aiming to speed up service delivery and urban planning. Cultural Diplomacy: Oman joins the Moscow International Book Fair with an official pavilion showcasing Omani literature, heritage, tourism and academic output.

Hormuz Crisis Watch: Iran kept pressure on the Strait of Hormuz despite US claims lanes are open, with reports of attacks on Saudi and South Korean tankers near Oman and fresh US strikes on IRGC-linked targets, pushing Brent above $94 and rattling shipping and energy expectations. Oman’s Role in Maritime De-escalation: Iran signalled it is ready to return to the June ceasefire if Washington does the same, while it continues working with Oman on managing shipping traffic—though US acceptance remains unclear; Oman also pushed back on “misrepresentations” around the talks. Regional Diplomacy: Saudi Crown Prince and Oman’s Sultan met in Jeddah to coordinate on regional security as the conflict threatens Gulf stability and supplies. Energy & Markets: The renewed flare-up lifted oil and pressured equities as bond yields climbed, while analysts flagged how Hormuz disruption is reshaping crude and LNG sourcing patterns for countries like India. Oman Business & Infrastructure: Muscat began field rollout of Oman’s National Addressing Project, with street naming and verification already over 80% in pilot areas. Industry & Trade: Oman’s halal tourism push gained momentum via a workshop aimed at strengthening hospitality standards. Finance/Industry Deal: Sohar International and the National Bank of Oman jointly led a $720m refinancing facility for Phoenix Power.

Strait of Hormuz Security: Two Saudi-linked supertankers were hit by unknown projectiles in quick succession while transiting the Omani corridor, with UKMTO also reporting a separate tanker strike near Khasab; shipping visibility remains extremely low, keeping a war-risk premium on oil. Oil & Markets: Brent pushed above $92 and diesel crack spreads topped $100 as US-Iran hostilities resumed, while global yields rose and pressured equities. Oman Energy Output: Oman’s oil production rose 11.3% to 233.8 million barrels by end-July, alongside higher exports. Oman Telecom Regulation: The TRA issued a Number Portability Regulatory Framework to let users switch providers while keeping their numbers, with automated transfers under set timelines. Halal Tourism Standards: Oman is moving from “halal-friendly” branding to recognised standards and certification, with a Salalah workshop bringing together hotels, labs and inspection bodies. Business & Projects: Mace Consult supports delivery of Muscat’s Sayyid Tarik bin Taimur Cultural Complex; Awery Aviation Software appointed Marcangelo as Global Sales EVP. Industry Events: Salalah Engineering Forum in Dhofar will focus on clean energy infrastructure and resilience.

Strait of Hormuz Shock: The US resumed strikes on Iran after a monthlong lull, hitting rocket launchers on Larak Island to stop new sea-mine threats; Iran retaliated by striking US bases in Jordan and the UAE, while the UAE said it intercepted an Iranian drone. Oil & Shipping Impact: Fresh US-Iran exchanges pushed crude back above $90 and raised new risks for maritime safety as claims and counterclaims continue over mine-clearing and tanker incidents, including reports of a supertanker hit by mines and a separate “unknown projectile” attack. Oman in the Mix: Mediation efforts involving Oman, Qatar and Pakistan continue around reopening the corridor, but the latest flare-up has added doubt to talks. Regional Business Angle: Oman’s investment appeal got a boost in a new report linking Vision 2040 reforms and capital-market upgrades to longer-term funding interest. Energy Policy Watch: Pakistan’s OGRA raised LPG prices for September, while Morocco announced a small diesel increase from Sept. 1.

Strait of Hormuz Shock: Oil jumped back above $90 a barrel after the US and Iran resumed strikes, with the US saying it hit rocket launchers on Larak Island to stop new sea-mine deployment, while Iran retaliated with missile and drone attacks on US-linked bases in Jordan and the UAE; Shipping & Energy Impact: reports also claim a tanker was hit by mines near the southern route, while authorities warn transit remains risky and commercial traffic stays far below normal; Oman Social & SME Support: Riyada and Nama Electricity Supply launched “Riyada Plus” to help SMEs with flexible electricity payments and efficiency support; Food Safety Crackdown: Oman seized 220+ packs of Raqaq bread in North Batinah over alleged expiry-date manipulation; Business & Investment: Oman won 11 awards at the GCC Smart Investor Award, and Kazakhstan stepped up Gulf diplomacy with Oman and the UAE to expand transport and logistics ties; Energy Vehicles in Oman: DEEPAL (Changan) rolled out REEV models S05, S07 and G318 in Oman through AGAE.

Oman Banking Watch: Oman’s commercial banks lent more than they took in deposits by end-June, pushing the loan-to-deposit ratio to 102.9%, with private deposits up 12.45% year-on-year to OMR 19.37bn. Energy & Power: Oman’s total electricity production rose 4.5% by end-July to 31,732.5 GWh, led by a sharp jump in Muscat output (+197.4%). Renewables in Duqm: Duqm’s wind push moved to construction-ready status, with Duqm North and Duqm South wind projects (58MW total) set to generate about 190 GWh annually. Water Security: A Salalah symposium kicked off on water resources sustainability and climate change, focusing on modern tech, policy, and adaptation. Manufacturing Skills: Oman is looking to strengthen TVET links to industry needs under Manufacturing Strategy 2040, with emphasis on digital and automation skills. Used Car Parts Rules: Oman’s Consumer Protection Authority tightened trading rules for used vehicle spare parts, banning key safety components and requiring warranties. Hormuz Shock to Trade: Fresh attacks and tanker incidents around the Strait of Hormuz kept shipping disruption in focus, with traffic still far below normal and oil-route risk spilling into regional markets. Omani Rose Supply Chain: Amouage highlighted a new Omani rose essential-oil supply chain from Jabal Akhdar, stressing limited output and single-distillation purity.

Strait of Hormuz Diplomacy: Iran says its understanding with Oman on a temporary Hormuz transit route will not be implemented until the US fulfills its commitments, while Tehran insists the strait remains closed and vessels need Iranian coordination. Energy & Trade Impact: With Hormuz traffic still far below pre-war levels, analysts warn the disruption is structural and could keep oil and shipping costs elevated even if talks progress. Oman Regulation (Used Parts): Oman’s Consumer Protection Authority bans trade in 21 categories of used vehicle spare parts and tightens warranty and disclosure rules for workshops and sellers. Oman Cybersecurity: Oman rolls out a 2026-2030 national cybersecurity strategy focused on protecting critical infrastructure, boosting readiness, and strengthening public-private cooperation. Oman Renewables & Industry: Duqm advances its City Renewable Energy push with two wind projects (58MW) moving to construction-ready stages, while Oman’s economy grows 2.6% in Q1 2026 led by petroleum activity. Logistics & Ports: Gulf Warehousing Company completes early frozen bulk vessel operations in Oman, expanding cold-chain services across the GCC. Business Events: Muscat Theatre Festival opens entries, and the Rex Fuels Expo & Conference heads to Muscat with bitumen, fuels, refining and logistics stakeholders.

Strait of Hormuz Update: Iran says the Hormuz deal with Oman won’t take effect until the US meets conditions under the Islamabad MoU, while the US White House insists American forces control the strait after clearing mines and protecting commercial traffic. Oman-Iran Shipping Corridor: Tehran and Muscat are advancing a temporary corridor managed jointly, but Iran warns the waterway stays closed unless Washington complies. Oil & Markets: Crude prices remain choppy as Hormuz risk and Fed expectations collide, with tanker activity still far below pre-war levels. Oman Economy Watch: Oman’s GDP grew 2.6% in Q1 2026, led by petroleum activity, and the Muscat Stock Exchange financial sector index hit an 18-year high. Renewables & Energy Transition: Duqm advances its Duqm City Renewable Energy initiative with two wind projects (58MW) moving to tender-ready stage. Logistics & Trade: Gulf Warehousing Company completes major frozen bulk vessel operations in Oman, extending cold-chain capacity across the GCC. Industry & Investment: Oman unveils Dhofar investment opportunities worth about OMR1.95bn, while Nizwa Industrial City reports 20 projects worth over OMR12mn. HSE & Compliance: Oman strengthens health, safety and environment standards across the oil and gas sector with tighter governance and improved accident metrics. Events for Business: Salalah hosts engineering and water-climate forums, plus a halal tourism workshop aimed at expanding Oman’s services exports.

MSX Earnings Boost: Net profits of Muscat Stock Exchange-listed public shareholding companies jumped 26% to about OMR1.2bn in H1 2026, helped by cost control, efficiency gains, higher oil prices and stronger activity; Omantel led with OMR292.7m. Market Watch: The MSX 30 rose 0.13% to 7,532 points as banking stocks lifted sentiment, though trading value fell and sanctions-linked worries on Iran kept investors cautious. Industrial Push in Nizwa: Nizwa Industrial City localised 20 projects worth over OMR12mn in the first half, spanning chemicals, medical supplies, building materials and glass, with cumulative investments topping OMR560mn and 6,100 workers. Dhofar Investment Pipeline: Oman’s “Invest in Oman” platform unveiled five Dhofar opportunities worth about OMR1.95bn, led by Future Salalah City (about OMR1.9bn) plus urban, eco-tourism and marine tourism concepts. Water Security in Salalah: A UN water symposium on “Water and Climate Change” opens in Salalah, focusing on floods, drought, salinity, desalination, treated-water reuse, aflaj protection and tech-led water management. Oil & Gas Safety Upgrade: Oman’s energy ministry is rolling out a stronger HSE system for the oil and gas sector, citing fewer lost-time accidents and improved safety performance. Hormuz Shipping Update: Tanker traffic through the Strait of Hormuz rose over 30% week-on-week, but remains far below pre-war levels as Iran and the US trade competing claims over access and mine-clearing. Oman-Saudi Trade Talks: Salalah will host the next Omani-Saudi economy and industry coordination meeting to speed up industrial supply chains, non-oil exports and private-sector partnerships. Consumer Protection Action: North Al Batinah seized 220+ packs of Raqaq bread over alleged expiry-date manipulation and non-compliant transport conditions.

Strait of Hormuz Diplomacy: Iran’s FM Abbas Araghchi said diplomacy is “not impossible” if the US drops its pressure campaign, as Tehran and Oman keep working on a temporary shipping corridor. Oman-Iran Shipping Talks: Iran’s President Masoud Pezeshkian reiterated that a Hormuz route agreed with Oman would reopen only if Washington fulfills the June Islamabad MoU—lifting blockade/sanctions, releasing frozen assets, and pushing Israel to halt attacks in Lebanon. US Mine-Clearing Claims vs Caution: US CENTCOM chief Adm. Brad Cooper said US forces cleared Iranian mines and lanes are open, but international monitors still urge vessels to proceed with caution. Energy Market Impact: Oil prices slid on weak cues and Hormuz uncertainty, while shipping traffic remains far below pre-war levels; European gas prices also fluctuated on LNG supply worries. Local Oman Standards: Oman introduced new water flow measurement standards (electromagnetic, mechanical, ultrasonic) to improve accuracy and resource management. Aviation & Trade: Omani LCC SalamAir plans Salalah expansion, with Africa flagged as a future focus.

Strait of Hormuz Diplomacy: Iran says it is preparing a list of conditions to reopen Hormuz, after Qatar’s PM/FM met Tehran officials and stressed freedom of navigation under international law; Iran’s security chief Mohsen Rezaei also pointed to an Iran-Oman shipping corridor and mine-clearing plans, while warning Washington must take “practical steps” first. US Economic Pressure: The White House says it is not talking with Iran and is doubling down on sanctions under “Operation Economic Outcast,” as Iran warns sanctions would make countries “complicit” in US “illegal will.” Shipping and Energy Impact: Even as some traffic ticks up, Hormuz flows remain far below normal; Reuters data cited uneven transits, while oil prices stayed pressured toward weekly losses. Military Claims Clash: CENTCOM said US forces cleared Iranian sea mines from internationally recognized lanes and claimed major progress, but Iran disputes the narrative and insists the strait won’t fully return to pre-war levels without sanctions relief and an end to the blockade. Oman Angle: Reports say Oman is part of the corridor talks, with a potential deal that could reshape regional shipping routes and risk for carriers.

Hormuz diplomacy heats up: Qatar’s PM-FM Sheikh Mohammed bin Abdulrahman Al Thani met Iran’s top officials in Tehran to push a framework with Oman for a temporary Strait of Hormuz shipping corridor and a joint mine-clearing project, while stressing freedom of navigation and de-escalation. Iran’s conditions for reopening: Iran’s security chief Mohsen Rezaei said Tehran is preparing a list of conditions tied to ending regional wars (including Gaza and Lebanon) and that any corridor would depend on the US lifting its blockade, paying compensation, and removing sanctions. Shipping still risky: The Joint Maritime Information Center kept the Middle East maritime threat level at “severe” after a tanker attack in the Strait of Hormuz, with traffic still at single-digit transits daily and mine risks persisting. Oil market impact: Oil prices swung on hopes of a corridor versus doubts about US buy-in; WTI and Brent moved with the latest diplomacy signals, but Shell CEO Wael Sawan warned disruptions could keep prices elevated for years. Oman angle: Multiple reports say Oman and Iran are close on corridor and revenue-sharing mechanics, but implementation hinges on US actions.

Oman Industrial Push: Oman is moving into a smarter, more diversified manufacturing drive under its Industrial Strategy 2040, with the new 2026–2030 Five-Year Development Plan spotlighting 30 priority industrial activities across food, petrochemicals, healthcare, metals, electromechanical, environmental and renewables—aiming to lift manufacturing’s contribution and non-oil exports. Hormuz Shipping Watch: Strait of Hormuz traffic edged up to about 10 vessels daily as Iran and Oman work on a temporary corridor and revenue-sharing, but security remains fragile after a tanker was hit by an unknown projectile and fire was contained; Iran’s IRGC also says the strait won’t reopen unless US conditions are met. Regional Diplomacy: Qatar’s prime minister is set to visit Tehran to revive US-Iran talks, while Pakistan reiterates it will not follow unilateral US sanctions and says it will keep trading with Iran. Markets & Energy Spillover: Oil prices slid again on hopes of Hormuz reopening, while Nvidia’s blockbuster results kept AI-linked stocks in focus and helped lift broader Gulf sentiment. Trade & Logistics Angle: Iraq’s SOMO launched a second tender to sell Basra crude loading in September outside the Strait of Hormuz, reflecting how the chokepoint disruption is reshaping Gulf shipping routes.

Strait of Hormuz Talks: Iran and Oman say they’ve agreed a temporary shipping corridor and revenue-sharing framework, but Iran insists the strait won’t reopen fully unless the US accepts Tehran’s conditions—keeping commercial risk high even as oil prices ease. Oil & Shipping Impact: Brent and WTI settled lower after choppy trade as investors weighed Hormuz progress against ongoing uncertainty; shipping traffic remains far below normal and some oil firms plan to avoid Iran’s blacklist. Oman Business Signals: Salalah Airport is set to get its first airline base, a boost for Dhofar’s connectivity and travel-linked services. Markets Watch: Wall Street ended slightly lower after hotter US inflation (PCE) revived rate-hike worries ahead of Nvidia earnings, while Europe stayed muted as traders balanced Hormuz hopes with sticky inflation. Regional Mediation: Qatar is pushing diplomacy to revive US-Iran talks, while Pakistan seeks another 60-day ceasefire to stabilize the region’s trade routes.