AGP Executive Report

US-Iran Talks in Doha: Indirect, low-level technical talks wrapped in Qatar with mediators shuttling between delegations; both sides agreed to continue, but key gaps remain on the Strait of Hormuz and Lebanon. Strait of Hormuz Tensions: Iran again blamed a container ship grounding on an unapproved route, reinforcing its push for control and future fees, while US officials and partners stress keeping commercial shipping flowing. Oman Logistics Deal: Asyad and CMA CGM signed a framework for a $400m multipurpose logistics terminal in Sohar, aiming to boost regional trade corridors. Oman Energy Procurement: Nama launched an RFQ for two solar IPPs (Adam and Sinaw) totaling 1,500MW and about $1.03bn, with Adam expected to include battery storage. Digital Supply Chain Push: Oman’s Ministry of Energy and Minerals launched a digital platform to modernize energy-sector procurement, contract management and local content monitoring. Oman IPO Update: OMIFCO set its IPO price at 156 baiza, raising $678m ahead of its July 8 Muscat listing. OPEC+ Outlook: Reuters says seven OPEC+ countries plan an August output quota increase of about 188,000 bpd. Regional Security: CENTCOM led a 12-nation security dialogue in Bahrain focused on safeguarding Hormuz shipping, with Oman among participants.

Strait of Hormuz Tensions: Iran says a foreign containership ran aground on July 1 after allegedly bypassing its “Route of Authority,” while the incident adds fuel to the wider dispute over who controls passage and whether transit fees could return after a 60-day window. US-Iran Talks in Doha: Indirect technical talks continue with Qatar and Pakistan mediating, as Washington and Tehran argue over frozen assets and Strait of Hormuz shipping rules; Iran also refuses direct meetings with senior US envoys. Oman’s Role in Shipping: Oman is pushing a fee-collection approach for Strait management, but the US and Iran remain divided on implementation details, even as shipping traffic starts to recover. Oman Water Deal: SUEZ wins a 15-year, €2bn (about RO 900m) performance-based water and wastewater services contract for Muscat and South/North Sharqiyah, covering operations, maintenance and water-loss reduction for 2.3 million people. Energy & Digital Push: Oman launches a digital supply chain initiative for the energy sector to improve procurement and contract management, while EDF-led plans include major pumped hydro and solar projects. Food Security: Natural Shrimp Aquaculture targets 3,200 tonnes of white shrimp output in 2026, aiming to expand exports and strengthen local supply. Transport & Infrastructure: Dhofar starts seven road maintenance and rehabilitation projects worth over OMR14m, and Oman Air says its transformation plan stays on track for profitability in 2027.

Oman Energy & Power: Siemens Energy won a contract to supply six F-class gas turbines and generators plus 20-year service agreements for Oman’s Misfah and Duqm IPP projects, totaling about 2.6 GW and boosting national power capacity by nearly 20%. Strait of Hormuz Watch: Iran says it will not meet US envoys Jared Kushner and Steve Witkoff in Doha, insisting talks must first resolve ceasefire terms; Qatar confirms the US side will meet mediators, not Iranians, keeping the future of shipping and any possible fees in limbo. Shipping & Trade Pressure: With Hormuz traffic still sensitive, shipping rates are rising as carriers frontload demand ahead of July, while renewed attacks keep routes and evacuation plans unstable. Oman Tourism & Aviation: Oman Air launches a new nonstop Muscat–Singapore route (starting July 9) and signals interest in expanding further into North Asia, aiming for strong seat-load performance early on. Maritime Business: Maritimo appoints KJM Marine as its exclusive dealer across the GCC and parts of the Middle East and Indian Ocean, strengthening luxury yacht sales and after-sales support in Oman and nearby markets.

Strait of Hormuz Diplomacy: US envoys Steve Witkoff and Jared Kushner arrived in Doha for technical talks via Qatari mediators, while Iran says no direct US-Iran meetings are planned; the talks also hinge on releasing about $6bn in frozen Iranian assets and keeping shipping safe. Oman’s Hormuz Position: Oman backs “service fees” for navigation and environmental services but rejects transit tolls, arguing any charges should be voluntary and tied to maritime support—an approach now being weighed against US objections. Shipping Watch: Strait traffic has rebounded after weekend attacks, with dozens of vessels transiting again, but route uncertainty remains as Iran and Oman debate control and mine clearance. Oman Digital Finance Security: OMPAY (Omantel) earned ISO/IEC 27001:2022 certification for its consumer wallet and business payment services, boosting trust for Oman’s growing fintech market. Oman-France Energy Push: EDF Power Solutions and Oman signed renewable and energy-storage deals, including a major pumped hydro project and solar PV plans, signaling deeper investment in the Sultanate’s energy transition. Water Infrastructure: SUEZ won a RO 900m performance-based water and wastewater services contract in Oman, covering operations and maintenance for millions of residents.

Oman-France Energy & Security: France’s EDF-led consortium will build a 2,000 MW Jabal Abyad pumped hydro storage project in Oman, boosting grid stability for renewables. Maritime Logistics Deal: CMA CGM and ASYAD signed a framework to develop and run a multipurpose logistics terminal at Sohar, aiming to strengthen regional trade corridors. Strait of Hormuz Mine-Clearing: Macron said France and Oman will work with partners to clear mines in the Strait of Hormuz to secure free passage. US-Iran Doha Talks in Doubt: Trump says Iran requested a Qatar meeting on Tuesday, but Tehran denies direct talks, sending only an expert delegation via Qatari mediation—keeping markets and shipping on edge. Oil Prices Slide: Brent and WTI fell as investors weigh Doha uncertainty and the fragile ceasefire, while Hormuz traffic remains volatile. Shipping Risk on the Water: Reports say many India-bound ships are “going dark” by switching off tracking systems, and Hormuz transit routes are still disputed. Oman Renewables Push: Oman launched tenders and plans for large solar and storage capacity, including a 1GW solar-plus-storage tender.

US-Iran Talks in Doha: After a weekend of renewed strikes, the US says it will hold high-level talks in Doha on Tuesday, while Iran denies any meeting at “any level,” keeping the fragile interim deal on edge. Strait of Hormuz Shipping: Commercial traffic has stayed partly active but many India-bound vessels are “going dark” by switching off tracking, and operators remain cautious after drone and projectile incidents near Oman. Oman’s Hormuz Role: Oman’s foreign minister reiterated Muscat opposes transit tolls but is open to voluntary maritime, environmental and navigational service fees, while Iran’s deputy foreign minister rejected France’s demining plan, saying mine-clearing will be done solely by Tehran. Energy & Industry: Oman LNG marked a milestone with the maiden cargo aboard “Muscat LNG,” and L&T won FEED work for a 2.5 Mtpa Oman green iron facility. Water Infrastructure: Suez secured a €2bn, 15-year water and wastewater O&M contract for Muscat and parts of North/South Sharqiyah. Local Development & Food Security: Al Wusta is rolling out 173+ projects worth about OMR37.5m, and a South A’Sharqiyah shrimp farm targets 3,200 tonnes in 2026. Oman-France Partnership: Sultan Haitham and Macron witnessed the signing of 12 agreements, with cooperation spanning logistics, energy and space.

Strait of Hormuz Truce Watch: The US and Iran agreed to halt attacks “for now” and resume technical talks, with vessels allowed to move freely while negotiators prepare for meetings in Qatar—after days of drone and missile exchanges that rattled shipping and energy markets. Oman–Iran Navigation Talks: Iran and Oman held the first meeting of a joint Strait of Hormuz committee to discuss administration, maritime navigation and coordination, as Muscat pushes practical mechanisms to keep traffic safe. Oman Solar Push: Oman’s power and water procurement agency opened tenders for 1.5 GW of solar, including a 1 GW Adam Solar IPP with battery storage and a 500 MW Sinaw Solar IPP. Oman LNG Logistics: Oman LNG launched its first shipment aboard the new “Muscat LNG” vessel, boosting LNG export capacity and reinforcing Oman’s energy-and-shipping role. Gas Market Reform: Integrated Gas Company signed new spot gas market agreements under Oman’s Spot Gas Market to improve supply-demand flexibility for industry and power needs. Business Spotlight: Dar Global marked its fifth anniversary, reporting a US$23bn global real estate portfolio with continued expansion including Oman.

Hormuz Tensions: Oman has told European partners that the Strait of Hormuz may not return to pre-conflict arrangements, with officials discussing possible fees for services like navigation support and pollution control—while Iran insists it alone will govern passage and warns ships not to bypass its preferred route. Gulf Security: Iran’s renewed drone and missile attacks hit Kuwait and Bahrain after US strikes, with Kuwait intercepting ballistic missiles and Bahrain reporting damage to a residential building, as the US-Iran interim ceasefire framework shows sharper strain. Shipping & Energy Impact: Oil prices slid as tanker traffic and freight patterns shifted, with shipping traffic through Hormuz dropping and maritime authorities raising threat levels near Oman. Oman Business & Industry: AmCham Oman launched its inaugural Tourism Business Exchange to connect hotels, tour operators and suppliers, while Oman’s logistics push includes electric trucks and port electrification to cut emissions and costs. Food & Agriculture: A South Al Sharqiyah shrimp aquaculture firm targets 3,200 tonnes of white shrimp in 2026, aiming to expand exports and value-added products.

Gulf Shipping Under Strain: Iran and the US traded missile and drone strikes after fresh tanker attacks near the Strait of Hormuz, with Bahrain reporting damage to a residential building and Kuwait saying its air defences intercepted incoming missiles and drones; the flare-up is again testing a fragile interim ceasefire and raising risks for commercial transits. Oman-Hormuz Navigation Moves: Oman-linked maritime arrangements are in focus as a US Navy-backed maritime body expands a route near Oman, while Iran insists only Iran-approved passage is valid—keeping the Omani coast corridor a flashpoint for shipping and insurance. Shipping Rules for India Adjusted: Oman’s region also saw a practical shift as Bahrain and Kuwait tensions rose—India’s Directorate General of Shipping withdrew an earlier restriction on Indian ship movement in the Gulf, urging operators to follow coastal security protocols and maintain heightened caution. Oman Enforcement: Oman’s Environment Authority, with police and agriculture officials, arrested a suspect at Muscat Airport for trying to smuggle endangered spiny-tailed lizards, warning of legal penalties under wildlife trade rules. Trade & Agriculture Signals: Oman’s non-oil exports hit about OMR 1.611bn in Q1 2026, while regional agribusiness buzz continued with festival-style promotion of mango value chains.

Strait of Hormuz Flashpoint: Iran launched drones at Bahrain and a tanker was hit by an “unidentified projectile” in the Strait of Hormuz as the U.S. and Iran traded strikes, raising fresh doubts about the fragile ceasefire and keeping shipping volumes low. Maritime Operations in Oman: A U.S.-run maritime body expanded an Oman-coast route for inbound and outbound traffic and lifted the threat level to “substantial,” while authorities warned of mines and naval presence. Energy Impact: Oil prices slid more than 3% as more tankers moved, but security fears lingered after the latest vessel incidents. Oman Business & Energy: Integrated Gas signed new Oman spot gas deals to deepen market reforms, while Nama PWP launched an RFQ for 1,500MW of solar projects (Adam and Sinaw) with battery storage planned. Local Economy: Oman’s non-oil exports rose to OMR 1.61bn in Q1 2026, and the Muscat bourse saw a weekly dip despite institutional buying. Sustainability & Regulation: Oman expanded its plastic shopping bag ban to more retail categories from July 1 and introduced a regulatory framework for “buy now, pay later” services with a spending cap.

Strait of Hormuz Flashpoint: The US launched airstrikes on Iran after a drone attack on the Singapore-flagged cargo ship Ever Lovely near Oman, with CENTCOM saying it hit missile/drone storage and coastal radar sites; Trump called it a “foolish violation” of the ceasefire and Vance warned “violence will be met with violence,” while Iran’s IRGC vowed retaliation and reiterated it controls Hormuz navigation. UN Shipping Disruption: The UN’s IMO paused its evacuation and escort efforts after the attack, saying it needs safety guarantees before restarting, leaving thousands of seafarers and dozens of vessels in limbo. Oman Policy Watch: Oman will expand its plastic shopping bag ban from July 1 to furniture stores, dagger shops, gold and silver outlets, car care centres and dealerships, following earlier phases and inspection drives. Regional Diplomacy: Oman’s foreign minister discussed Hormuz security and keeping trade/energy flows uninterrupted with Egypt, as Gulf states push for de-escalation amid renewed US-Iran tensions. Shipping Recovery Signals: Despite the crisis, some tankers and vessels continued transits via alternative routes, including a Bangladesh-bound ship that finally resumed after 115 days.

Strait of Hormuz Security: US President Donald Trump accused Iran of a “foolish violation” of the US-Iran ceasefire after drones allegedly hit a cargo ship near Oman, while Iran reiterated it can’t guarantee safe passage without Tehran-approved routes. UN/Shipping Operations: The UN’s IMO paused its evacuation and escort plans after the attack, with about 115 vessels and 2,500 seafarers already moved; officials say it will restart only after safety guarantees. Oman’s Position: Oman told European officials the strait won’t return to the pre-war status and that any future arrangements may involve fees for services, while other reports say Oman insists on toll-free passage. Markets Watch: Oil prices slid as Hormuz traffic resumed on alternative routes, but security fears and the paused UN operation kept volatility high. Gulf Diplomacy: US Secretary of State Marco Rubio reassured GCC allies during a regional tour, stressing the deal won’t undermine Gulf security. Oman Business Push: Oman Chamber of Commerce and Industry launched “Inspire Oman” to attract investment and boost tourism under Vision 2040.

Strait of Hormuz Disruption: The UN’s International Maritime Organization paused its escort and evacuation efforts after a cargo ship was hit by a projectile near Oman, with Iran warning that vessels using routes outside its approved corridors won’t be covered by safe-passage guarantees. Oman Energy & Industry: Work has started on Oman’s latest $550m petrochemicals project at Sohar Port and Freezone to produce PTA and PET, strengthening local feedstock links and packaging supply chains. Renewables in Oman: Nafath Renewable Energy was named implementing contractor for a 1.5MW community solar plant under the Imtidad programme, letting households subscribe to solar output without installing panels. Shipping Watch: Traffic through Hormuz has surged in recent days, but the Ever Lovely attack has again raised safety concerns for crews and shipowners. Oil Markets: Crude prices fell about 2% as tanker flows improved, even as the attack kept geopolitical risk in focus. Regional Trade Links: Oman and Sudan signed an MoU to boost transport, logistics, ports, railways, maritime cooperation, and training.

Strait of Hormuz Flashpoint: A cargo vessel off Oman’s coast was hit by an unknown projectile, prompting the UN’s IMO to temporarily pause its evacuation support as Iran and Oman trade competing claims over approved routes and future management. Oman’s Position on Fees: Oman’s foreign minister reiterated that any future Strait of Hormuz arrangements will not include transit fees, backing freedom of navigation as Iran pushes a paid “maritime services” model. US-GCC Push for Free Passage: US and Gulf ministers called for reopening Hormuz with “no tolls, fees, or attempts to assert control,” while Secretary of State Marco Rubio warned any deal must not undermine Gulf security. Shipping Recovery, Still Fragile: Traffic is rising but remains below peacetime levels, with dozens of crossings recorded and thousands of stranded seafarers still working through UN-linked exit efforts. Aviation Growth in Oman: Oman’s Civil Aviation Authority held an Advanced Air Mobility forum to advance safe, sustainable operations under Vision 2040. Sustainable Finance Win: Oman Electricity Transmission Company (Nama Group) won Sukuk Deal of the Year for a $750m green sukuk aimed at renewable and grid upgrades.

Strait of Hormuz Update: Iran’s Revolutionary Guards rejected Oman’s proposed safe-transit route, warning that only Tehran-designated corridors are “acceptable,” while the UN’s IMO evacuation plan is already moving ships out and easing traffic. Shipping & Energy Markets: As tankers begin transiting under the UN scheme, oil prices slid back toward pre-war levels; US Energy Secretary Chris Wright said flows are near normal, though demining means full recovery may take weeks. Oman’s Role in Maritime Safety: Oman and the IMO are coordinating temporary, toll-free corridors and waypoint routing to help stranded vessels and seafarers exit in a controlled sequence. Oman Projects & Industry: Oman’s Ministry of Health awarded the Oman Genome Centre and Bio Bank project contract, and Oman also secured an energy deal with OQEP and Turkish Petroleum for Musandam’s Block 80. Regional Diplomacy: US Secretary of State Marco Rubio continued Gulf outreach in Bahrain, UAE and Kuwait to reassure allies amid ongoing US-Iran talks and disputes over nuclear inspections and Hormuz fees.

Strait of Hormuz Logistics: The UN’s International Maritime Organization says the first ships have started transiting the Strait of Hormuz under a new evacuation scheme for about 11,000 stranded seafarers, using two temporary tracks—one via Iranian waters and another coordinated by Oman and the US—while Oman has also opened a temporary, toll-free corridor to keep global shipping moving. Oman’s Role in Navigation: Oman and Iran have agreed to set up a joint working group to discuss future administration of Hormuz navigation and services, with Oman reiterating toll-free safe passage. Oil Market Impact: As tankers resume movement, Brent has slipped to pre-war levels near $74 and WTI below $70, with traders pointing to easing supply disruption and more Middle East cargoes hitting markets. Gulf Diplomacy: US Secretary of State Marco Rubio met UAE and Kuwait leaders, stressing Washington won’t undermine Gulf security and that Hormuz must remain free of transit fees. Oman Energy & Industry: Oman signed a concession pact for Block 80 in Musandam with OQEP and Turkish Petroleum, and the Ministry of Commerce held talks with exporters to boost access to regional and international markets. Aviation Safety Warning: EASA urged airlines to avoid Iran/Iraq/Lebanon airspace for now and exercise extra caution over several Gulf states, citing lingering escalation risks around Hormuz.