AGP Executive Report
Last update: 3 hours agoEnergy & Deals: Shell has agreed to sell its South African downstream business, including 580 fuel stations, to ADNOC in a deal worth about $1bn, with completion expected in 2027 subject to approvals; Shell also flagged a sharp fall in second-quarter gas production amid the US-Iran war, though shares rose in London. Climate Security: UK climate ministers have launched a first expert taskforce to help government anticipate and respond to climate-driven national security risks, citing heatwave impacts on families, farming and economic disruption. Battery Manufacturing & Trade: Offgrid Energy Labs opened its first UK battery manufacturing facility in Hampshire to produce its ZincGel long-duration zinc-bromine batteries, with an initial 10MWh capacity, ahead of the India-UK CETA taking effect on July 15. Banking Regulation: The Bank of England’s Financial Policy Committee proposed easing parts of bank capital and leverage rules to make buffers simpler and more usable in stress, while still checking for financial stability gaps. UK Politics & Donations: Reform UK leader Nigel Farage says he will quit as an MP and stand in a byelection to “clear his name” amid scrutiny of £5m donations linked to a crypto billionaire and a convicted fraudster.
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