AGP Executive Report
Last update: 9 hours agoElections & Geopolitics: Sao Tome and Principe heads to a presidential vote Sunday, with parliamentary elections due end-September, as a Russia military cooperation deal signed in April 2024 keeps the Gulf of Guinea’s strategic spotlight on the small island state. Offshore Oil Licensing: Sao Tome and Principe has reportedly rejected all bids in its latest licensing round for ultra-deepwater blocks 7, 8 and 9, citing a lack of operator diversity; the regulator says it will focus on already-awarded blocks before opening new acreage. Petroleum Deal Update: Petrobras has completed its acquisition of operatorship and a 75% stake in offshore Block 3, partnering with Oranto (15%) and the National Petroleum Agency (10%), as it pushes frontier exploration in West Africa. Electricity Sector Work: TECMON Energy wrapped a June 29–July 2 visit focused on stabilising and modernising Sao Tome and Principe’s power sector across generation, fuel supply, transmission, distribution, metering and revenue protection. Maritime Security & Trade: A major cocaine-and-money-laundering probe in Spain traces a record 13-ton seizure hidden in banana shipments to offshore firms, luxury real estate, crypto networks and Wall Street-linked funding. Regional Industry Context: Separately, Iraq’s export pipeline plans and port drone incidents underline how Gulf and Atlantic shipping infrastructure remains a high-stakes business target.
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