Oilfield services giant SLB (formerly Schlumberger) is preparing to reactivate as many as 15 idle drilling and workover rigs already located in Venezuela, a move that could help ease one of the primary bottlenecks constraining the country’s crude production recovery. Executives outlined the plans at an industry conference in Houston on August 19, 2026. William […]
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Hat tip to Claire Coutinho (then Energy Secretary, now Shadow Secretary of State for Energy) and the think tank Onward with modeling by Transira Energy. This article was first published on the Energy News Beat Substack. Britain’s electricity prices rank among the highest in the developed world—frequently the highest for industrial users among IEA countries and […]
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The oil market is sending mixed signals that traders and energy watchers cannot ignore. Futures prices—the “paper” side of the trade—have been surprisingly restrained even as physical barrels face ongoing constraints from the prolonged disruption in the Strait of Hormuz. Diesel cracks are screaming tightness downstream, China has stepped back as the world’s swing buyer, […]
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Governor Gavin Newsom’s California has perfected a special skill: taking ordinary life and making it more expensive, less reliable, and more bureaucratic—all in the name of climate virtue. The latest exhibit is the California Energy Commission’s unanimous approval of the nation’s first efficiency standards for replacement tires. These rules, effective in phases starting in 2029 […]
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On August 18, 2026, Evolution announced a definitive agreement to acquire mineral, royalty, and overriding royalty interests spanning approximately 3,420 net royalty acres (NRA) across 152 tracts in Reagan, Upton, Glasscock, Midland, and Martin Counties, Texas, from a non-affiliated private seller. The purchase price is approximately $16 million in cash, subject to customary adjustments. The […]
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South Bow Corp. (TSX/NYSE: SOBO) shares rose on August 19, 2026, marking their strongest one-day advance in more than a month, after U.S. President Donald Trump publicly suggested a revival of the long-canceled Keystone XL pipeline project. In a Truth Social post, Trump announced a three-day pause on planned 50% tariffs on Canadian goods, citing […]
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Steven Wang, CEO of Jackery Americas, stops by the Energy News Beat Podcast There are way too many warning signs across the globe and in the US. We have a real treat with Steven Wang, CEO of Jackery Americas, talking about solutions and what’s around the corner. I would like to get Steven and Doomberg on a […]
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The ongoing conflict in Iran has triggered a profound energy crunch that extends far beyond crude oil prices. While Brent crude has retreated to around $90 per barrel from a wartime peak near $126, global shortages of refined products—diesel, gasoline, and jet fuel—have intensified. Global refinery throughput in July 2026 ran nearly 5 million barrels […]
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The U.S. diesel crack spread—the premium of ultra-low sulfur diesel (ULSD) futures over West Texas Intermediate (WTI) crude—has shattered every historical record. On Monday, August 17, 2026, it surged to an intraday all-time high of $102.20 per barrel and settled in triple digits for the first time, hovering around $100 the following day. For context, […]
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(Updated August 19, 2026, with actual August 18 numbers and latest peak forecasts)The Electric Reliability Council of Texas (ERCOT) continues to brace for a multi-day stretch of extreme heat that is expected to push power demand past the current all-time record of 91.089 GW. ERCOT is forecasting that peak demand will exceed that mark each […]
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