AGP Executive Report

Oman-France Space Push: Etlaq signed an LOI with France’s Latitude for an experimental rocket launch from Oman, targeted for late 2027, as the Sultanate builds a space hub to diversify beyond oil. Air Connectivity: SalamAir will start the first direct Muscat–Medan flights on Friday (twice weekly), and also plans direct Muscat–Sylhet from September 2026 (three weekly flights), boosting tourism, trade links and Umrah connections. Real Estate Finance: Tanmia and FIM Partners will launch and co-manage an Oman Real Estate Development Fund targeting at least $250m to back viable projects under Oman Vision 2040. Logistics & Ports: Asyad Shipping and CMA CGM signed a framework for a $400m multipurpose logistics terminal in Sohar, while Asyad also secured government support to cut fuel and insurance costs for eligible India–Oman food cargoes. Food Market Oversight: Oman issued new executive rules for living aquatic resources, tightening retail fish price oversight by linking consumer prices to documented wholesale invoices. Energy Procurement: Nama launched an RFQ for two solar IPPs (Adam Solar and Sinaw Solar) adding 1,500MW, with Adam expected to include battery storage. Capital Markets: OMIFCO priced its IPO at the top of range (156 baiza), raising $678m ahead of its July 8 debut on the Muscat Stock Exchange. Trade & Risk Watch: Maritime experts warned shipping is facing a “chain of crises” across routes, with geopolitical shocks increasingly shaping insurance and chartering decisions.

Strait of Hormuz Talks & Shipping: Indirect US-Iran technical talks in Doha continued as Iran said it won’t meet US envoys directly, while Trump called the meetings “very good”; at the same time, Iran reiterated its sovereign right to regulate the Strait and hinted transit fees after a 60-day free period, as shipping volumes slowly recover with US military support and an Oman-linked corridor. Oman’s Role in Hormuz Management: Oman’s proposal for a fee/payment structure for Hormuz was reported as talks focus on long-term administration, even as Iran blamed a foreign container ship for grounding after allegedly using a non-approved route. Oman Water Deal: SUEZ won a 15-year, performance-based water and wastewater services contract in Oman’s Muscat and North/South Sharqiyah clusters worth about RO 900 million, covering operations, maintenance and water-loss reduction for 2.3 million people. Oman Energy & Infrastructure: Oman Air announced five new routes in July (including Singapore and Sochi from 2 July), while Oman also pushed digital supply-chain initiatives for the energy sector. Local Business & Investment: North Batinah launched a tender to operate and invest in a vehicle drift arena to attract private investment, and Oman’s natural shrimp aquaculture firm targets 3,200 tonnes of white shrimp in 2026. Regional Finance: NBK marked Kuwait Petroleum International’s Q8 brand launch in Kuwait, highlighting continued banking-energy partnership momentum.

Strait of Hormuz Talks & Shipping Risk: Iran says it will not meet US envoys in Doha, insisting the ceasefire terms must be settled first, as indirect technical talks continue and shipping only partially resumes; the standoff keeps the Strait’s future—especially any fees or tolls—front and centre for Oman and global energy flows. Oman’s Hormuz Fee Push: Oman and Iran are moving ahead with plans to collect transit “service fees” for vessels, despite US objections, with reporting suggesting Oman’s proposal is framed as voluntary in wording but described by Iran as obligatory in practice. New Incident in Hormuz: Iranian state TV reports a foreign container ship ran aground after not following Iran’s approved route, underscoring how quickly navigation rules and enforcement claims can escalate. Oman Energy Projects: Siemens Energy won contracts to supply technology and 20-year services for Oman’s 2.6GW Misfah and Duqm gas power IPPs, boosting capacity and supporting the Duqm SEZ. Green Steel in Duqm: Meranti Green Steel appointed India’s L&T for FEED on its 2.5Mtpa green iron project in Duqm, moving closer to final investment decisions. Copper Export Milestone: Alara Resources dispatched its 51st copper concentrate shipment from Oman’s Al Wash-hi Majaza mine, with 2026 totals reaching 39,287 tonnes of concentrate. Oman Maritime Logistics Deal: Asyad and CMA CGM signed/advanced plans for a multipurpose logistics terminal in Sohar, reinforcing Oman’s port-led trade ambitions.

Oman–Energy Deal: Oman’s Nama Power and Water Procurement (PWP) signed a power purchase agreement for the 500MW Al Kamil I solar PV IPP with EDF Power Solutions, ONEIC and OQ Alternative Energy, with investment expected to top $100m and operations targeted for 2027. Digital Finance Security: Omantel’s OMPAY achieved ISO/IEC 27001:2022 certification for its consumer wallet and OMPAY Business payment solutions, underlining Oman’s push to strengthen fintech cybersecurity. Strait of Hormuz Fees Debate: As US–Iran talks in Doha stay technical and direct meetings are ruled out, Oman reiterated it opposes transit fees for ships in the Strait of Hormuz while supporting voluntary maritime/environmental service charges; Iran and Oman are still moving toward a fee framework despite US objections. Regional Sanctions: The GCC’s Terrorist Financing Targeting Center (TFTC), with the US, designated multiple Hezbollah financial entities and senior figures, aiming to disrupt funding channels. Markets Pulse: Gulf stocks ended mixed amid uncertainty over Doha diplomacy, while oil prices slid on hopes for talks but remained sensitive to shipping and supply risks.

US-Iran Doha talks amid Hormuz tension: Trump says a meeting will be held in Doha Tuesday after weekend strikes, but Iran says no negotiations are planned “at any level,” keeping the Strait of Hormuz dispute—and shipping risk—front and centre. Oman’s Hormuz stance: Oman’s FM says Muscat opposes transit fees for ships, but is open to voluntary charges for maritime services like safety, emergency response and environmental protection, while also stressing any future arrangements must follow international law. Shipping and oil market impact: Oil prices slid toward a monthly decline as traders weigh possible de-escalation in Doha, even as Hormuz traffic remains volatile and investors watch for signs of normalization. Oman logistics upgrades: CMA CGM and ASYAD signed a framework to build and run a $400m multipurpose logistics terminal in Sohar, aiming to strengthen maritime connectivity and regional trade corridors. Energy and infrastructure: EDF-led consortium signed to develop a 2,000MW Jabal Abyad pumped hydro storage project, supporting grid stability and renewables growth; Oman also pushed forward LNG deliveries with “Muscat LNG” shipping its first cargo. Oman-France business push: Sultan Haitham’s Paris visit highlighted new cooperation deals across energy, industry, AI, cybersecurity, aviation, space and renewables. Corporate moves: Greaves Cotton set up a Dubai subsidiary to expand Middle East and Africa trading and distribution. Tourism impact: Al Mouj Muscat said it has added about $2.3bn to Oman’s GDP over 20 years, underlining the sector’s diversification value.

Strait of Hormuz Diplomacy: The US and Iran are set for fresh talks in Doha on Tuesday after a weekend flare-up, but Iran says no technical meetings are planned this week, keeping the ceasefire fragile and the agenda unclear. Shipping & Oil Impact: Even with some traffic resuming, maritime activity remains below normal as security concerns persist, with reports of vessels “going dark” and insurers/owners staying cautious; oil prices edged up on hopes for continued recovery, but volatility remains tied to Hormuz access. Oman’s Position on Fees: Oman says it opposes transit fees for ships through Hormuz, while leaving room for voluntary maritime service charges tied to safety and environmental measures. Oman-France Business Push: Sultan Haitham’s Paris visit produced 12 agreements and a business forum, with France and Oman also backing mine clearance cooperation to secure passage. Energy Milestones: Oman LNG marked the first cargo shipment aboard “Muscat LNG,” while L&T won FEED work for a 2.5 Mtpa Oman green iron project. Local Economy Updates: Al Wusta is reporting over 173 projects worth about OMR37.5m underway, and Natural Shrimp Aquaculture targets 3,200 tonnes of white shrimp in 2026.

Oman LNG: Oman LNG marked its first LNG export shipment aboard the new “Muscat LNG” vessel, boosting the Sultanate’s role in global energy supply chains. Strait of Hormuz diplomacy: Iran and Oman held the inaugural meeting of a joint committee on Strait of Hormuz administration and navigation, as US-Iran talks continue amid renewed pressure over passage arrangements. US-Iran ceasefire strain: The US and Iran agreed to “stand down” and let vessels move freely while technical talks proceed, but fresh drone and missile attacks on Bahrain and Kuwait show how fragile the interim deal remains. Oil market impact: Oil prices edged up as hostilities and shipping risks persisted, with analysts warning that even if the strait is “open,” repeated disruptions could keep a geopolitical premium in place. Oman labour enforcement: Oman’s Ministry of Labour stepped up penalties and inspections for mandatory summer midday work breaks to protect workers from extreme heat. Green logistics push: Electric trucks are expanding in Oman’s transport and logistics sector, including new deployments at Sohar Port and Freezone to cut emissions and improve efficiency. Oman business & investment: Dar Global marked its fifth anniversary, reporting a US$23bn global real estate platform and a surge in development value and revenue.

Strait of Hormuz Tensions: Fresh US-Iran strikes and renewed Iranian drone and missile attacks on Bahrain and Kuwait are threatening the fragile ceasefire and complicating efforts to restore shipping flows through the Strait of Hormuz, with Oman telling European partners it’s unlikely to return to pre-war arrangements and may introduce fees for services like navigation support and pollution control. Shipping Disruption: Major carriers report limited routing and operational chaos as mines and “extremely limited” corridors force vessels into narrower paths near Oman and Iran, while CMA CGM says one trapped container ship has successfully transited and anchored off Muscat. Oman Anti-Bribery Crackdown: Oman has tightened penalties for private-sector bribery, expanding criminal liability for those who request, accept or offer unlawful benefits, including intermediaries. Tourism & Investment Momentum: Omran Group highlights multi-billion-dollar upscale resort plans, while Al Mouj Muscat marks 20 years with RO 878m contribution to GDP; Dhofar tourism projects are expanding and hotel rooms top 8,400. Transport & Trade Tech: Electric trucks are gaining traction in logistics, and WhatsApp-led AI commerce is reshaping how Omani SMEs sell online. Food Security & Local Industry: A shrimp aquaculture company targets 3,200 tonnes of white shrimp in 2026, and Oman’s Mango Gene Bank in Sohar preserves 252 mango varieties.

Strait of Hormuz Flashpoint: Iran says it has sole control of Hormuz shipping for the next 30 days and warns against “parallel structures,” as the US-Iran ceasefire frays and both sides trade strikes after attacks on tankers near the route. Maritime Rules & Costs: Tehran also pushes for Iran-approved navigation corridors and transit fees, with talk of crypto payments, raising fresh fears for oil and freight flows. Oman Shipping Oversight: Oman’s Directorate General of Shipping withdrew an earlier restriction on Indian ships and seafarer deployments in the Gulf, urging caution while evacuation efforts for stranded crews remain in focus. Oman Anti-Corruption: Oman tightened bribery rules by extending criminal liability into the private sector, setting tougher penalties for bribery involving board members and employees. Wildlife Trade Crackdown: Oman Air signed the Buckingham Palace Declaration to strengthen action against illegal wildlife trafficking via transport and logistics cooperation. Tourism & Business Impact: Al Mouj Muscat marked 20 years with an independent study citing OMR 878m contribution to Oman’s GDP, while Oman’s plastic bag ban enters a new phase from July 1, expanding restrictions to more retail sectors.

Strait of Hormuz Security: A tanker was hit by a projectile near Oman in the Strait of Hormuz, with UKMTO saying the bridge was damaged but the crew was safe, as the Joint Maritime Information Center raised the threat level to “substantial” and shipping volumes stayed thin. US-Iran Escalation: The incident followed new U.S. strikes on Iranian missile/drone storage and coastal radar sites after an earlier drone attack on a commercial vessel, while Iran and Bahrain traded accusations of ceasefire breaches and drone attacks. Regional Diplomacy: Bahrain, Kuwait and other Gulf states condemned the attacks, as Israel also signaled it will send a delegation to Washington over concerns about any long-term U.S.-Iran nuclear deal. Oman Trade Watch: Oman’s non-oil exports rose to OMR 1.611bn in Q1 2026, led by chemicals and base metals, while local investment institutions increased purchases on the Muscat Stock Exchange despite a market dip. Local Business & Tourism: Khorfakkan’s Mango Festival reported a 40% jump in participation, with growing regional and international attendance.

Strait of Hormuz Security: The US expanded a near-Oman route to handle more inbound and outbound traffic, warning Iran as tensions flare again after a drone attack on a cargo ship; the UK Maritime Trade Operations centre also reported a tanker attack, while Bahrain said Iranian drones targeted it. US-Iran Escalation: Washington carried out strikes on Iranian missile/drone storage and coastal radar sites after Trump called the earlier ship attack a “foolish violation” of a fragile ceasefire; Iran’s IRGC said it retaliated by targeting US interests. Shipping & Energy Impact: Oil prices slid as Hormuz traffic rebounded, but the UN paused parts of its evacuation/escort plans after the latest incident, keeping risk premiums alive for global supply chains. Oman Policy & Business: Oman’s Environment Authority begins the fifth phase of its plastic shopping bag ban from July 1, extending restrictions to furniture, dagger shops, gold/silver outlets, car care centres and vehicle dealerships. Diplomacy & Trade: Iran and Oman agreed to set up a joint customs committee to boost trade and crack down on smuggling. Markets: US stocks steadied after tech jitters as oil fell, reflecting shifting expectations for Middle East disruption.

Strait of Hormuz Security Shock: The US carried out strikes on Iranian missile/drone storage and coastal radar sites after Iran’s drone attack on the Singapore-flagged cargo ship M/V Ever Lovely near Oman, with CENTCOM saying it violated the ceasefire and that safe passage coordination will continue. Shipping Disruption Watch: The UN/IMO paused parts of the Hormuz evacuation and escort effort after the incident, while more vessels reportedly kept transiting or rerouting, leaving route safety and enforcement questions unresolved. Oman Angle: Japan lowered travel advisories that included Oman, and Oman reiterated toll-free passage plans amid the wider debate over whether Iran can charge transit fees. Energy Markets: Oil prices slid toward multi-month lows as more tankers exited the strait, but the latest attack keeps a war-risk premium alive—spilling into broader markets. Policy & Finance: Oman’s central bank introduced a regulatory framework for “buy now, pay later” services, adding to the country’s push for consumer and fintech growth.

Strait of Hormuz Security Shock: The UN’s IMO paused its evacuation and escort efforts after a projectile hit the Singapore-flagged container ship Ever Lovely off Oman; UKMTO reported damage but no injuries, while US officials blamed Iran and Iran’s new strait authority warned ships outside approved routes won’t be covered by safe-passage guarantees. Oil Market Impact: Brent and WTI slid about 2% as more tankers exited the strait and supply worries eased, even as the attack kept the reopening outlook fragile. Oman Angle—Shipping & Policy: Oman-linked reporting highlighted that Hormuz transit arrangements remain contested, with Oman insisting on toll-free passage while Iran pushes route control and fees—raising operational risk for regional trade. GCC-US Diplomacy: Iran rejected a US-GCC statement after Rubio’s Bahrain talks, as Gulf ministers reiterated they oppose tolls and want Iran’s missiles, drones and proxies addressed for lasting peace. Oman Business Updates: Nafath was named implementing contractor for a 1.5MW community solar plant under APSR’s Imtidad programme, and Oman Air launched daily Muscat–Abu Dhabi flights from July 9.

Strait of Hormuz Tensions: A projectile hit a cargo ship near Oman’s coast, prompting the UN’s International Maritime Organization to temporarily pause its Strait of Hormuz evacuation plan for stranded seafarers, as officials cited the need to reconfirm safety guarantees. Diplomatic Push: In Bahrain, US Secretary of State Marco Rubio told Gulf allies any Iran deal must protect their security, while GCC ministers backed reopening Hormuz with free, unconditional navigation and rejected tolls or fees. Oman’s Position: Oman’s foreign minister said any future Hormuz arrangements would not include transit charges, reaffirming commitment to international maritime obligations. Energy Watch: Oil prices jumped after the attack revived concerns over shipping safety and the pace of normalization through the chokepoint. Seafarer Welfare: Philippines President Ferdinand Marcos Jr. renewed focus on Filipino seafarers’ welfare and safety amid ongoing geopolitical disruption to global shipping. Aviation in Oman: Oman’s Civil Aviation Authority held an Advanced Air Mobility forum to support Vision 2040 and aviation strategy goals.

Renewables Push: Nama PWP launched an RFQ for two large-scale solar PV projects in Oman—Adam (1,000MW with battery storage) and Sinaw (500MW)—totaling 1.5GW and nearly $1bn investment, aiming to strengthen grid stability under Oman Vision 2040. Healthcare Infrastructure: Oman’s Ministry of Health awarded the Oman Genome Centre and Bio Bank project in Al Seeb, Muscat, with bids ranging from OMR 3.998m to 6.798m. Mining Output: Alara Resources hit a production milestone at Al Wash-hi Majaza, dispatching its 50th copper-gold concentrate shipment from Sohar Port. Agriculture City Plan: Foster + Partners unveiled the sustainable masterplan for Al Najd Agricultural City in Dhofar, targeting 13,000 residents and 6,500 jobs. Maritime & Energy Shockwatch: GCC-US talks in Bahrain focused on Strait of Hormuz security as Oman announced a temporary corridor; Iran’s IRGC warned against unauthorised routes and tolls remain a flashpoint. Oil Prices: Brent slid back toward pre-war levels as Hormuz traffic improves, easing cost pressures expectations.

Strait of Hormuz Logistics: Oman opened a temporary, toll-free maritime corridor in the Strait of Hormuz in coordination with the IMO, while Oman and Iran agreed to keep working on a joint long-term administration framework via a foreign-ministry working group. UN Evacuation & Shipping Recovery: The IMO said the first ships have already transited under a UN-backed evacuation operation for about 11,000 stranded seafarers, with two corridors set up (Iran-controlled north; Oman/U.S.-overseen south). Energy Markets: Brent slid to the lowest since before the Iran war as more tankers exited Hormuz and supply fears eased, with physical crude discounts reported globally. Oman Business & Trade: Oman’s Ministry of Commerce met exporting firms to align government support with exporters’ needs and boost competitiveness in regional and international markets. Oman Tourism: Omran Group confirmed Al Bustan Palace (Ritz-Carlton) will close for major renovation from July 1, 2026, with works expected to take up to two years. OCCI Industry Watch: OCCI’s Energy and Mining Committee reviewed latest developments on gypsum and chromite marketing, including export mechanisms and value-add options. Aviation Compliance: Air India said its Delhi–Amritsar flight briefly infringed Pakistani airspace during a go-around on June 22, and the incident is under investigation. Finance Policy: Oman’s Finance Minister said the 2026 budget includes safeguards against global uncertainty, including measures for fuel/LNG/fertiliser price risks and support for macro stability.