31 Aug Energy Price, news and commentary 31/08/26: WTI Crude @ $84.75, Oil prices rose on Monday after the U.S. attacked an Iranian island in the Strait of Hormuz.
(Oilandgaspress) 31/08/26, The number of visible commodity vessels that sailed through the Strait of Hormuz over the weekend dropped to five a day, shipping data reportedly showed on Monday. The attack prompted Tehran to retaliate by hitting US military targets in Jordan. Both main crude contracts rose more than 2% on Monday. The Middle East conflict continues to disrupt oil exports through the Strait of Hormuz, straining markets and pressuring inventories
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $84.75 | Up |
| Crude Oil (Brent) | US$/bbl | $89.86 | Up |
| Bonny Light 28/08/26 CBN | US$/bbl | $92.28 | Up |
| Dubai | US$/bbl | $88.78 | — |
| Natural Gas | US$/MMBtu | $2.85 | Down |
| Murban | US$/bbl | $95.75 | — |
| OPEC basket 28/08/26 OPEC | US$/bbl | $89.95 | Up |
| At press time August 31, 2026 |
Nissan Motor Co., Ltd. and Honda Motor Co., Ltd. have entered into a joint development agreement to standardize multiple electronic control units (ECUs)* that form the core of next-generation software-defined vehicles (SDVs), along with the in-vehicle operating system and key parts of the middleware, and vehicle control software that run on these ECUs.
The E/E architecture incorporating the jointly developed ECUs and software is planned for application in both companies’ next-generation SDVs from fiscal year 2029 onward.
As part of their strategic partnership, Nissan and Honda continue to explore opportunities for collaboration across a range of areas to accelerate progress toward carbon neutrality and help realize a future with zero traffic fatalities involving their vehicles. In particular, the software domain centered on SDVs, which is key to vehicle intelligence and electrification, has been identified as an important area of collaboration, given the rapid pace of technological innovation and the need to strengthen competitiveness through improved R&D speed and investment efficiency.
Recognizing the need to strengthen competitiveness through faster development cycles and more efficient investment, the two companies have conducted extensive studies on potential collaboration in the software domain. As a result of these discussions, Nissan and Honda have agreed to jointly develop and standardize the core ECUs and software that underpin next-generation SDVs.
Under the agreement, the companies will work together to establish common specifications for multiple core ECUs within the E/E architecture of next-generation SDVs, as well the in-vehicle operating system and key parts of the middleware and vehicle control software.
Royal Wagenborg is strengthening digital resilience across its fleet of general cargo vessels after selecting De Boer Marine for a multiyear, phased rollout of onboard connectivity, IT and cybersecurity. The programme will support secure ship-to-shore communications, stronger onboard digital infrastructure and reliable internet access for crews.
The programme will cover around 160 owned and managed general cargo vessels. Under the agreement, De Boer Marine will provide an integrated onboard package covering onboard IT and network infrastructure, navigation and communication equipment, connectivity, system upgrades, installations, cybersecurity and LinQontrol to monitor and visualise onboard communication data.
The connectivity set-up will combine Starlink, OneWeb, Ku-band VSAT, Iridium Certus and 5G to support Wagenborg’s vessels operating worldwide, alongside upgrades to onboard network hardware and remote support systems. The scope also includes firewalling, intrusion prevention, web filtering, endpoint management and secure remote access. De Boer Marine is ISO 27001-certified, supporting the information security requirements of the rollout.
Theo Klimp, Fleet Director, Royal Wagenborg Shipping, said: “Digitalisation is an important enabler of our strategy to provide reliable, safe and sustainable maritime services. As our operations continue to evolve, we need technology partners who understand both the opportunities and the complexities of our business. De Boer Marine offers an integrated approach, covering everything from connectivity and IT infrastructure to cybersecurity and user support. Their ability to develop scalable solutions tailored to our operational requirements, combined with a proactive and collaborative partnership model, helps us strengthen our fleet and create long-term value for our customers, employees and stakeholders.”
Meindert-Jan de Boer, CEO, De Boer Marine, said: “We are proud that Royal Wagenborg Shipping has chosen De Boer Marine to support its global fleet. This is a substantial programme that brings connectivity, IT and cybersecurity together in one integrated approach. We look forward to working closely with the Wagenborg team throughout the rollout and supporting its fleet as its digital requirements continue to evolve.”
KBR announced today it has been selected by Live Oak consortium to provide front-end engineering design (FEED) services for the proposed Live Oak project in Norfolk, Nebraska. The Live Oak consortium is an international partnership comprising TotalEnergies, Osaka Gas, Toho Gas, ITOCHU Corporation and Tree Energy Solutions (TES). The project represents a significant step forward in the development of large-scale electric natural gas (e-NG), also known as e-methane, production in the United States.
Subject to a Final Investment Decision in 2027, the project is scheduled to begin commercial operations by 2030, with plans to export e-NG to Japan.
KBR will execute the FEED scope for the facility, which is expected to produce e-NG using renewable hydrogen generated through approximately 250 MW of water electrolysis and biogenic carbon dioxide. The hydrogen and captured biogenic CO₂ will be combined to produce synthetic methane, supporting the growing demand for lower-carbon energy solutions. Chemically identical to conventional natural gas, e-NG can be seamlessly integrated into existing LNG infrastructure, including liquefaction, transportation, regasification, and distribution, without any alterations to consumer equipment.
Baker Hughes Rig Count: : International +23 to 1,096. U.S. unchanged at 588 Canada -5 to 211
U.S. Rig Count is unchanged from last week at 588 with oil rigs down 5 to 447, gas rigs up 5 to 132 and miscellaneous rigs unchanged at 9.
Canada Rig Count is down 5 from last week to 211 with oil rigs down 4 to 144, gas rigs down 2 to 63 and miscellaneous rigs up 1 to 4
International Rig Count is up 23 from last month to 1,096 with land rigs up 14 to 847, offshore up 9 to 249.
The Worldwide Rig Count for June was 1,822, up 88 from the 1,734 counted in May 2026, and up 60 from the 1,762 counted in June 2025
| Region | Period | Rig Count | Change |
| U.S.A | 28 August 2026 | 588 | — |
| Canada | 28 August 2026 | 211 | -5 |
| International | July 2026 | 1,096 | +23 |
| Baker Hughes |
Thirty-two community organisations in Western Australia’s north west will each receive grants of up to A$5,000 to support local initiatives as part of Woodside Energy’s latest round of Community Grants.
The program is open to not-for-profit community and sporting groups operating in the City of Karratha, Shire of Exmouth and Onslow. Applications are accepted twice a year for projects that help to build community capability and wellbeing. Successful applicants in this round received funding to support diverse community initiatives including recovery activities in Exmouth and Onslow following Tropical Cyclone (TC) Narelle earlier this year. Woodside Corporate Affairs Manager North West Amanda Fuery said local community and sporting groups play a vital role supporting the wellbeing of local communities.
Among the recipients were the following groups and organisations:
President Donald Trump on Sunday reportedly said . “One of the things I am going to do with the Venezuelan Oil is fill up the Strategic National Reserves,” Trump said in a Truth Social post, in which he blamed Joe Biden, his predecessor as president, for emptying the reserve. “The ‘topping out’ process will begin very shortly, and is a Gift from Venezuela to the People of the United States,” .
The more than 700 MMbbl Strategic Petroleum Reserve currently holds 289.7 MMbbls of oil, or roughly 40% of its capacity, following massive drawdowns by both Trump and Biden.
Trump said Friday that the U.S. was taking control of 65 Bbbls of Venezuela’s proven reserves in partnership with private businesses. U.S. officials said the plan would create the world’s second-largest private oil company by reserves and secure American petroleum supplies for decades to come.
The U.S. will control 55% of the effective output from the joint venture and will obtain the oil at cost, according to a U.S. official.
Officials from Caracas are reportedly deliberating whether to leave OPEC, the organization it helped establish more than six decades ago, as Venezuela moves closer to the U.S. While an exit would have little immediate impact on global oil supplies, traders and analysts say it could further undermine OPEC’s cohesion and influence over crude prices.
The potential departure follows the UAE’s withdrawal and comes as Iraq has also signaled dissatisfaction with its production limits. Further fragmentation could increase competition among producers for customers and market share while reducing OPEC’s ability to manage periods of excess supply.
Etu Energias signed a Sale and Purchase Agreement (SPA) with Chevron for the acquisition of Chevron’s participating interest in Blocks 14 and 14K, in Angola. The transaction marks an important strategic milestone for Etu Energias, strengthening the company’s position in Angola’s upstream sector and expanding its role in the development of significant deepwater assets in the country.
Upon completion of the transaction, subject to applicable regulatory approvals and other conditions set out in the agreement, Etu Energias will assume operatorship of Blocks 14 and 14K, reinforcing its role in the sustainable development of Angola’s oil and gas resources.
The transaction is aligned with Etu Energias’ growth strategy, focused on increasing production, strengthening operational capabilities and creating sustainable value for Angola and its stakeholders.
“The signing of this SPA represents an important step in Etu Energias’ growth journey and reinforces our ambition to play an increasingly significant role in the development of Angola’s energy resources,” said Edson dos Santos, CEO of Etu Energias.
Etu Energias reaffirms its commitment to producing energy for Angola’s growth, contributing to the strengthening of the national industry and the sustainable development of the energy sector.
Eimear Bonner, CFO of Chevron Corporation , will participate in a fireside chat at the Barclays 40th Annual Energy-Power Conference on Tuesday, September 8, 2026, at 12:40 PM ET.
Please visit www.chevron.com/investors to view a live webcast of the conversation and Q&A session. A replay will be available on the website after the event for those unable to watch the live webcast.
Orrön Energy AB announced the successful completion of the transaction announced on 25 June 2026 (the “Transaction”), through which the Company has combined its Nordic renewable energy platform and organisation, excluding the Karskruv wind farm, with Cloudberry Clean Energy ASA (“Cloudberry”). This transaction creates a leading Nordic independent power producer (“IPP”) with an annual proportionate power generation of around 2.1 TWh from a diversified portfolio of renewable energy assets across all Nordic price areas. The Transaction establishes Orrön Energy as Cloudberry’s largest shareholder with a 27.01 percent ownership interest and two Board representatives, and reduces the Company’s net debt to below MEUR 5. The Company retains the high-quality Karskruv wind farm and a 12 GW European development portfolio of data centre, solar and battery projects offering significant upside potential.
Transaction highlights
• Creates a leading Nordic IPP by combining Orrön Energy’s Nordic renewable energy platform and organisation, excluding the Karskruv windfarm, with Cloudberry’s platform for a combination of cash and shares
• Orrön Energy has become the largest shareholder in Cloudberry with 124,378,083 shares, corresponding to 27.01 percent of the total number of shares and votes
• Orrön Energy’s net debt is reduced to below MEUR 5, following the settlement or assumption of outstanding loan balances and accrued interest of approximately MEUR 93 as of year-end 2025 by Cloudberry, and MEUR 4.2 received in cash as compensation for cash balances and working capital
• Active ownership role and Board-level oversight with the CEO Daniel Fitzgerald, and General Counsel Henrika Frykman joining the Board of Directors of Cloudberry
• Orrön Energy retains the high-quality Karskruv wind farm, delivering long-term cash flows with around 290 GWh of average annual production in the attractive SE4 price area
• Orrön Energy continues to advance its European development business, which offers significant growth potential and cash flows from its large-scale pipeline of solar, battery, and data centre projects
• A committed debt facility of MEUR 50 is in place to support future growth
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