Energy news for August 12, 2026
August 12, 2026 · 21 stories
21 stories from across upstream and power. The day led with OPEC output climbs to 19.85 million bpd in July as Iraq leads the rebound.
Markets
OPEC output climbs to 19.85 million bpd in July as Iraq leads the rebound
OPEC's 11-member group added 1.17 million barrels a day in July, a Reuters survey found, while Iran's output stayed about a quarter below pre-war levels.
Policy
DOE cancels three national interest transmission corridors picked in 2024
Energy Secretary Chris Wright killed the Lake Erie-Canada, Southwestern Grid Connector and Tribal Energy Access corridors first proposed in December 2024.
Policy
FERC approves PJM capitalization rules for market participants
FERC's July 26 order requires PJM market participants to hold $2 million in tangible net worth or offer collateral, a letter of credit or a guaranty.
Markets
Battalion Oil cuts net debt to $74.2 million in second quarter
The Houston producer lowered its leverage ratio to 1.36 times and lined up an August spud at its Monument Draw development.
Markets
Mattr's second-quarter revenue climbs 23% to $396 million, raises 2026 outlook
Mattr Corp posted 23.4% revenue growth and swung to a $19.8 million profit in the second quarter, then raised its full-year outlook.
Power
Households near new UK grid lines to get £2,500 off energy bills
Homes within 500 metres of new UK transmission projects will get £250 a year for 10 years, starting with 43 schemes largely in Scotland's North-east.
Upstream
Borr Drilling wins new contracts and extensions for seven jackups
Borr Drilling's August 2026 fleet status report adds work for seven rigs across Vietnam, Malaysia, Mexico, Ivory Coast and the Netherlands.
Upstream
Murphy Oil spuds Lac Da Trang well offshore Vietnam
Murphy Oil has spudded the Lac Da Trang North-1X well off southern Vietnam, targeting 40 million to 80 million barrels of recoverable resources.
Markets
US natural gas production set for a record 122.5 Bcf/d in 2026, EIA says
The Permian and Haynesville regions are driving the growth, with Permian output tracking oil prices well above the basin's breakeven levels.
Upstream
80 Mile pushes Jameson drilling in Greenland back to winter 2027
Permitting delays push 80 Mile's Jameson exploration well in East Greenland to winter 2027, and Greenland has issued the company a formal warning.
Upstream
Tenaris starts third Vaca Muerta fracturing set after $110 million investment
The new set is now fracturing wells at Tecpetrol's Los Toldos II East field in Argentina's Neuquén Basin, under an 18-month contract.
Midstream & LNG
Cheniere marks 10 years of LNG exports, targets 100 mtpa by mid-2030s
Cheniere's 2025 report marks a decade since its first Sabine Pass LNG cargo and points to over 100 million tonnes of yearly capacity by the mid-2030s.
Upstream
Georgina Energy advances site work ahead of Hussar helium well in Australia
Georgina Energy has begun water well and conductor pipe work at its 300 km² Hussar prospect in Western Australia ahead of a September 2026 spud.
Power
Nano Nuclear posts $580 million cash pile as NRC opens Illinois reactor review
Nano Nuclear closed its fiscal third quarter with $580 million in cash as the NRC began formal review of its first planned reactor site.
Upstream
Predator begins site prep for Snowcap-3 well in Trinidad
NABI Construction will prepare the onshore location for Star Valley Rig 205 as the well targets the Herrera #8 and Herrera #1 Sands to about 5,450 feet.
Power
Equinix tops $1.6 billion in Texas data center investment
Equinix backs Governor Greg Abbott's new data center standards as it pushes past $1 billion in active Texas projects.
Upstream
Saipem wins $1.8 billion Middle East offshore EPCI contract
The Italian contractor will handle engineering, procurement, construction and installation of offshore and subsea structures under the deal.
Power
NextEra Energy secures funding for up to 10 GW of gas power in Texas and Pennsylvania
Commerce and Japan release the first funding tranche for two NextEra gas power hubs in Texas and Pennsylvania, part of a $550 billion Japanese investment pact.
Power
Alpha Compute options Pennsylvania Marcellus assets for $55 million data center campus
A binding term sheet gives Alpha Compute an option on 1,800 Marcellus acres in Pennsylvania for a planned 200-megawatt AI data center campus.
Policy
BLM opens comment period on 113-parcel Colorado oil and gas lease sale
The agency wants input on 126,445 acres of proposed parcels before finalizing a December 2026 sale, with comments due September 11.
Upstream
Aker BP and Equinor's first well on North Sea license 979 comes up dry
The first well in Norwegian license 979, drilled by Aker BP and Equinor near the Solveig field, found no proven reservoir and has been plugged.
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