Wednesday, 26 August 2026

Net profit attributable to CNOOC shareholders climbed 23.4% in the first half to 85.8 billion yuan, or USD 12.9 billion, Offshore Engineer OEDigital reported.

Pricing did most of the work. Each barrel the company sold fetched an average of USD 85.49, up 23.6% over the period. Oil and gas sales revenue reached 206.1 billion yuan, a gain of 20%.

Output expanded alongside prices. Net oil and gas production rose 3.7% to a record 398.7 million barrels of oil equivalent, of which 275.2 million boe, up 3.3%, came from fields in China.

Management left the full-year plan where it stood: production of 780 million to 800 million boe, with capital spending budgeted between 112 billion and 122 billion yuan.

The interim dividend was set at HK$0.94 per share, which CNOOC identified as its largest since listing.

Wholesale power in New England cleared at an average of $54.66 per megawatt-hour in the Real-Time Energy Market in July 2026, a 9% drop from the previous year, according to ISO New England Newswire.

The Day-Ahead Energy Market settled higher over the same month, averaging $66.99/MWh, down 5% from July 2025.

Total electricity use across the region came to 11,436 GWh in July 2026, 6.1% below the July 2025 level, ISO New England Newswire reported. The 9% real-time price decline therefore outpaced the fall in demand.

Power plants in the region produced an estimated 2.92 million metric tons of CO2 during the month, 19% less than in the previous July.

Net imports from neighboring regions supplied about 958 GWh of electricity in July 2026.

Natural gas was the predominant fuel in New England, generating 54% of the power produced in 2025 by the region's power plants, according to ISO New England Newswire.

The UK ETS Authority has confirmed that bringing waste incineration into the UK Emissions Trading Scheme will not happen in 2028 as originally intended.

In place of that timetable, the Authority set out a monitoring, reporting and verification only period that will commence from 1 January 2026. Participation in that MRV-only period will be voluntary for waste sector operators at this stage.

The decision follows a consultation on expanding the scheme to waste that drew over 250 responses, according to the Authority.

Arrangements differ in Northern Ireland, where the EU ETS will apply to energy from waste installations under the terms of Article 9 and Annex 4 to the Windsor Framework, formerly the Northern Ireland Protocol.

Hull Street Energy has closed its purchase of two Midwestern power plants from Rockland Capital, according to Power Magazine. Both stations sell electricity into the PJM Interconnection.

The buyer is an investment firm based in Maryland, Power Magazine reported.

The deal moves the two generating stations from one financial owner to another within PJM's footprint, per the same report.