Energy news for August 3, 2026
August 3, 2026 · 17 stories
17 stories from across midstream & lng and markets. The day led with Chevron shifts North American base oils distribution to HF Sinclair and Renkert Oil.
Markets
Chevron shifts North American base oils distribution to HF Sinclair and Renkert Oil
HF Sinclair Lubricants & Specialties becomes Chevron's exclusive Group II base oil distributor in Canada from May 1, 2027, with Renkert Oil covering process oils.
Midstream & LNG
ONEOK Q2 2026 net income climbs 13%, raises guidance
ONEOK's second-quarter net income rose 13% to $967 million and adjusted EBITDA rose 7% to $2.12 billion, and the company raised its 2026 profit guidance.
Markets
Diamondback Energy tops 1 million boe/d in Q2, raises 2026 guidance
Second-quarter production topped 1 million barrels of oil equivalent a day for the first time, and the Permian producer raised full-year output guidance.
Midstream & LNG
INGAA names Casey Decatur communications director
INGAA and The INGAA Foundation named Casey Decatur, a former American Petroleum Institute and M&T Bank communicator, as communications director.
Upstream
Mechanical insulation cuts megawatt demand at AI data centers
As AI campuses scale past 300 MW, operators are turning to mechanical insulation to cut cooling loads and the power they must generate on-site.
Midstream & LNG
Williams buys Momentum Midstream for up to $5.5bn, raises 2026 outlook
Williams will pay up to $5.5 billion for Momentum Midstream, adding Haynesville pipeline capacity aimed at Gulf Coast LNG demand.
Markets
Perimeter Compute plans to put AI chips in spare office building power
The startup wants to install AI chips in unused power capacity at Class A office buildings in cities including New York and Boston, its CEO says.
Upstream
Diamondback Energy production tops 1 million boe/d in second quarter
Diamondback Energy reported second-quarter production of 1,018 MBOE/d, cut debt by $1.3 billion and raised its 2026 output guidance.
Midstream & LNG
Enbridge postpones second phase of 250,000 bpd Mainline expansion
The Canadian pipeline operator will focus on two smaller projects instead, after producers held back from committing to bigger crude oil output.
Midstream & LNG
Williams buys Momentum Midstream for up to $5.5bn
Williams will pay up to $5.5 billion for Momentum Midstream's Haynesville gathering and pipeline network, expanding its Gulf Coast LNG position.
Power
PJM accepts 715 generation projects into first cycle of reformed queue
PJM Interconnection qualified 715 generation projects with more than 200 GW of combined capacity for study under its reformed queue process.
Midstream & LNG
Venture Global's CP2 LNG seeks DOE approval to export 620.5 Bcf/yr of LNG
CP2 LNG filed for long-term authority to export LNG equal to 620.5 Bcf/yr of gas from its Louisiana terminal expansion.
Power
Williams to acquire Momentum Midstream, expanding Haynesville gas position
Williams Companies agreed to buy Momentum Midstream and raised its 2026 EBITDA guidance to $8.4 billion, citing Haynesville gas growth.
Power
Google to buy all power from RWE's new Oklahoma solar project
RWE and Google signed a 15-year deal for the full output of the 155-megawatt Crooked Creek Solar project in Oklahoma, set to open in 2028.
Power
TotalEnergies buys Shell's onshore renewables business, sells KKR a stake for €1.8bn
TotalEnergies is buying Shell's onshore renewables unit in Europe and selling KKR a 50% stake in a separate 1.2 GW portfolio for €1.8 billion.
Midstream & LNG
ADNOC Drilling wins $365 million contract on sanctioned Umm Shaif Gas Cap
ADNOC sanctioned the Umm Shaif Gas Cap development and awarded ADNOC Drilling a 14-well, $365 million contract running 18 months.
Markets
ERCOT's Texas grid hits record 91.1-gigawatt peak amid July heat wave
ERCOT's July 22 peak beat its 2023 record by 6%, with natural gas and solar meeting most of the demand.
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