27 Aug Energy Price, news and commentary 27/08/26: OPEC basket @ $86.39/bbl
(Oilandgaspress) 27/08/26, The war has reduced OPEC+’s ability to quickly raise or cut oil supply by effectively shutting the Strait of Hormuz
OPEC+ accounted for about 40% of global oil output in July, according to Reuters calculations based on International Energy Agency data. That’s down from more than 48% before the U.S. and Israel attacked Iran in late February, although about four to five percentage points of the decline were due to the United Arab Emirates’ withdrawal from OPEC in May. OPEC+ reportedly accounted for only a quarter of world oil output in July.
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $82.39 | Up |
| Crude Oil (Brent) | US$/bbl | $88.45 | Up |
| Bonny Light 14/08/26 CBN | US$/bbl | $98.16 | — |
| Dubai | US$/bbl | $88.63 | Down |
| Natural Gas | US$/MMBtu | $2.85 | Down |
| Murban | US$/bbl | $89.82 | Down |
| OPEC basket 26/08/26 OPEC | US$/bbl | $86.39 | Down |
| At press time August 27, 2026 |
NextOcean, the Netherlands based provider of offshore vessel motion prediction technology, announces it has been awarded the contract to supply its motion radar to the ESVAGT NJORD, a dedicated Service Operations Vessel (SOV) commissioned by ESVAGT. The system will support safer, more efficient offshore operations as the vessel continues to provide its services to the operation and maintenance of the Dudgeon windfarm.
NextOcean’s WavePredictor is designed to give crews insight in advance into vessel motions in real time, enabling safer transfers and improved decision-making in challenging sea states. Its deployment on the ESVAGT NJORD extends NextOcean’s footprint in the Offshore Service Vessel segment, with systems now supporting operations on vessels around the world.
Shell is to move a number of jobs from Aberdeen to London next year as part of changes to its global upstream business.
Staff were informed of the move at a town hall meeting on Monday, with affected roles in development, subsurface and wells expected to relocate to London during 2027.
More than 1,000 former Shell employees transferred to Adura when the joint venture was formed in December 2025. The Aberdeen-headquartered business owns interests in the Jackdaw and Rosebank developments, which are awaiting UK Government approval.
A Shell spokesman said: “Shell is adjusting part of its global upstream organisation to reflect the evolving needs of the business and stay competitive.
On Thursday October 29ᵗʰ, 2026 at 07:00 GMT (08:00 CET and 03:00 EDT) Shell plc will release its third quarter results and third quarter interim dividend announcement for 2026.
Equinor ASA announces that Finn Bjørn Ruyter has decided to leave his position on the Board of Directors and prioritize his responsibilities as CEO of Hafslund and other board positions. The change takes effect 1 September 2026.
KBR announced that its Mission Technology Solutions business, which will be named Trinzic after its planned spin-off, has been awarded a Workplace Services Management (WSM) contract by the UK Ministry of Justice (MoJ), strengthening a trusted partnership and building on more than eight years of delivery across the MoJ estate.
The award positions KBR at the heart of the Ministry’s Property Transformation Programme (PTP) – one of the largest and most ambitious transformation initiatives across the UK Government. The programme is designed to modernise facilities management delivery by enhancing service quality, improving data and digital capabilities, upgrading IT systems, and embedding consistent professional and functional standards across the estate.
This contract expands the scope of services KBR will provide to the Ministry of Justice, with services now extending across the entire prison and probation estate in alignment with the PTP vision. Through this role, KBR will support the MoJ in evolving its operating model to ensure facilities management services remain compliant, efficient, and aligned with departmental and wider government strategies through 2030 and beyond.
Under the WSM contract, KBR will deploy its integrated Estates Intelligence assurance solution, combining deep asset management expertise with insights and advanced and predictive analytics. This capability is enabled by KBR’s proprietary VIAverse® platform, which enhances data transparency, performance monitoring, and decision-making across large, complex estates – key enablers of the MoJ’s transformation objectives.
The contract has a duration of five years with two one-year extension options (5+1+1). Mobilisation will begin in the third quarter of 2026, with full-service commencement scheduled for 1 June 2027.
Indonesia is strengthening its position as one of the Asia-Pacific’s most promising markets for Carbon Capture and Storage (CCS) development. As the country moves from policy development toward project implementation, the focus is expanding to include stronger collaboration, investment, and the development of commercial-scale projects to support Indonesia’s Net Zero Emissions (NZE) ambitions and the transition toward a low-carbon economy.
In line with this direction, the Indonesia Carbon Capture and Storage Center (ICCSC) will once again host The 4th International & Indonesia Carbon Capture and Storage (IICCS) Forum 2026, taking place on 26–27 August 2026 at Hotel Mulia Senayan, Jakarta.
Under the theme “Advancing Indonesia’s CCS Project Deployment: Driving Policy Alignment, Regional Collaboration, and Sustainable Carbon Economy,” the forum will bring together regulators, industry leaders, investors, technology providers, academics, research institutions, and international organizations to explore pathways for accelerating CCS deployment, strengthening regional cooperation, and advancing a sustainable carbon economy.
Throughout the two-day event, participants will engage in High-Level Conferences, Plenary Sessions, Concurrent Sessions, Exhibitions, Business Matching, and Networking Sessions, creating opportunities for meaningful dialogue and strategic partnerships among regulators, project developers, investors, financial institutions, technology providers, and international organizations.
The forum will explore key topics shaping the future of CCS in Indonesia and the region, including commercial project deployment, cross-border CCS collaboration, carbon market development, financing mechanisms, Monitoring, Reporting, and Verification (MRV) systems, emerging technologies, and policy frameworks that support sustainable carbon management.
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