AGP Executive Report
Last update: an hour agoBRICS Diplomacy: The New Delhi BRICS summit ended without a military alliance or common currency, but delivered a 140-paragraph declaration pushing more influence for emerging economies on trade, finance, technology and cross-border payments. Red Sea Energy Shock: Saudi Arabia halted oil deliveries to Europe after a drone-damaged pipeline, tightening supply for refineries and lifting prices as buyers scramble for replacements. Nigeria Gas Push: NUPRC says Nigeria aims to expand gas output to supply up to 70% of Africa’s gas demand, leveraging 215 TCF reserves, with the plan hinging on investment and pricing. Côte d’Ivoire Offshore Deal: Eni sold a 10% stake in the Baleine project to SOCAR, reshaping ownership while boosting output plans for domestic energy demand. South Africa Fuel Pricing: Pretoria is still reviewing the formula behind its target to bring petrol and diesel to around R14/litre, as global oil volatility keeps pressure on motorists. Nigeria Energy Costs: Cooking gas rose 25% to about N1,500/kg and diesel climbed above N2,000/litre, raising operating costs for power-dependent businesses. Power Reliability in Gambia: Prolonged blackouts have hit businesses, hospitals and fish storage in Tanji, triggering protests and worsening daily hardship. Renewables & Grid Tech: EcoPhi launched its Gateway Nano for remote monitoring of distributed solar and energy assets across remote African sites. South Africa Municipal Reform: South Africa secured a $1bn New Development Bank loan to improve governance and performance of metro trading services, including electricity and energy.
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