WASHINGTON—The U.S. Department of Energy (DOE) renewed two emergency orders to support continued improvements to Puerto Rico’s electric grid as the island faces rising energy demand and the ongoing 2026 hurricane season. Building on previous actions in 2025 and 2026, the renewed emergency orders authorize the Puerto Rico Electric Power Authority (PREPA) to dispatch generation units essential for maintaining critical generation capacity, while continuing vegetation management to reduce outages, strengthen long-term grid reliability, and minimize the risk of blackouts. “The Department of Energy will continue advancing the modernization of Puerto Rico’s electric grid to build a more affordable, reliable, and secure energy system for hardworking American families and businesses,” said U.S. Secretary of Energy Chris Wright. “Renewing these orders ensures critical work moves forward, urgent reliability changes are addressed, and Puerto Rico’s grid is ready to withstand rising energy demand. Thanks to President Trump, these efforts are delivering real, lasting progress for Puerto Rico.”  The emergency orders help ensure the continued delivery of electricity to Puerto Ricans amid unforeseen conditions. The orders also address vegetation management issues near power lines. Falling tree limbs or brush during Puerto Rico’s frequent storms and high winds can damage transmission lines, cause widespread outages, and potentially cause wildfires. “During the last 19 months, thanks to the partnership and support of President Trump and Secretary Wright, we have made measurable progress to strengthen Puerto Rico’s electric system. The Department of Energy’s Section 202(c) orders have been an essential component of that work, providing the emergency authorities needed to restore or refurbish close to 1,600 megawatts of generation capacity since they were first issued in May 2025. During that same period, the number of approved federal vegetation clearing projects has increased from 5 to 33, giving us access to critical resources to reestablish rights-of-way along transmission and distribution lines and help reduce service interruptions. Renewing these emergency orders is critical to

TotalEnergies SE has agreed to acquire Shell’s 4-Gw onshore renewables portfolio in Europe. The portfolio includes 500 Mw of solar and wind assets in operation or under construction, primarily in Italy and the Netherlands, as well as a 3.5-Gw pipeline of solar, wind, and battery storage projects in Italy, the UK, and Spain, the company said Aug. 3. In the Netherlands, the assets include 254.2 Mw of installed peak capacity across the Moerdijk, Heerenveen-Zuid, and Emmen (GZI Next) solar parks; the Sas van Gent-Zuid and Koegorspolder solar parks in Terneuzen; and the Pottendijk combined solar and wind park in Emmen. TotalEnergies will assume full ownership of the portfolio upon closing. The transaction is subject to regulatory approvals and is expected to be completed by yearend 2026. “This agreement reflects Shell’s continued focus on actively managing and further strengthening its electricity portfolio, in line with the strategy outlined during Capital Markets Day 2025,” said Machteld de Haan, president, downstream, renewables and energy solutions, Shell. De Haan said Shell is prioritizing investment in areas where it has competitive advantages, including asset-backed power trading and customer-focused energy solutions. Shell said it will continue to buy and sell onshore solar and wind power in Europe and will retain interests in projects including Holland Hydrogen 1, Northern Lights CCS in Norway, LNG, and carbon capture and storage activities. KKR acquires 50% interest in European renewables portfolio In another deal, TotalEnergies agreed to farm out a 50% interest in a largely developed 1.2-Gw onshore solar and wind portfolio in Europe to KKR. The company said the transaction is consistent with its strategy of selling 50% interests in renewable assets once they have been developed. The portfolio includes assets in Germany, Spain, France, and Poland. Electricity generated by the assets has already been sold to third parties or

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OPEC+ has approved a fresh increase in oil production quotas for September of roughly 188,000 b/d, completing the phased reversal of voluntary supply cuts first introduced in 2023. The decision, confirmed in an official OPEC statement following a virtual meeting on Aug. 2, 2026, marks the sixth consecutive monthly increase by the group this year. Seven core members of the alliance—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—agreed to raise output targets. The move completes the unwinding of the 1.65-million b/d voluntary supply cut originally agreed in 2023, back when the group still included the United Arab Emirates (UAE), which exited OPEC in May. The group said the adjustment would also give participating countries an opportunity to accelerate compensation for previous overproduction, and it reiterated commitment to the OPEC+ Declaration of Cooperation, with compliance to be monitored by the Joint Ministerial Monitoring Committee (JMMC). While the September hike is now finalized, OPEC+ is widely expected to pause further increases starting in the fourth quarter. Though the group’s official statement gave no explicit guidance on fourth-quarter policy, OPEC+ sources cited by Reuters and analysts—including Rystad Energy’s Jorge Leon—say a pause is likely as the alliance assesses market conditions after finishing the restoration of the 2023 cuts. A separate layer of roughly 2 million b/d in cuts, dating to 2022, remains in place and is expected to continue through the end of 2026. The steady stream of monthly increases comes against a backdrop of major market disruption. Ongoing Middle East tensions—including disruptions tied to the Iran conflict and the Strait of Hormuz—have complicated the group’s ability to translate higher quotas into actual barrels reaching the market. Russia, in particular, continues to produce below its OPEC+ target of about 9.8 million b/d, with output near 9 million b/d amid repeated Ukrainian drone

Drawing on nearly three decades of experience in energy trading and risk management, Kessler offers insight into the fallout from escalating Middle East tensions, the breakdown of US-Iran diplomatic efforts, and the critical role of the Strait of Hormuz, through which a significant share of global oil supplies traditionally flows. The discussion explores what it would take to achieve a meaningful de-escalation in the region and how market participants are assessing the risks. Kessler argues that restoring safe passage through the Strait of Hormuz will be central to any lasting stability, while Iran’s oil exports and broader economic pressures could influence future negotiations. He also shares his perspective on how OPEC+ is responding to disruptions, the alliance’s efforts to restore production, and the growing competitive pressure it faces from producers outside the Gulf region. Turning to North America, Kessler examines the outlook for US shale producers in a higher-price environment. With crude prices holding above $80/bbl, he discusses signs of increased drilling activity, stronger production growth potential, and the continued emphasis on hedging and capital discipline among operators. The conversation also highlights advances in drilling technology and efficiency that could enable US producers to respond more quickly to market opportunities while managing downside risk. Looking further ahead, the episode considers whether recent disruptions will accelerate a long-term shift away from traditional Middle East oil chokepoints. Kessler discusses the growing role of US, Canadian, African, and Latin American supplies, expanding export infrastructure, and the possibility that today’s high prices could ultimately lead to demand destruction, increased competition, and renewed market oversupply. For anyone following global crude markets, OPEC+ strategy, US shale growth, energy security, and future oil price trends, this conversation provides a timely and thought-provoking outlook on the evolving global energy landscape. About our guest Dennis Kissler, senior vice-president of

The company said the predominantly operated portfolio comprises producing assets, development projects, and exploration acreage across Colombia’s Middle Magdalena Valley, Putumayo, and Llanos basins and Ecuador’s Oriente basin. Production is entirely oil-weighted and benefits from established processing, storage, and transportation infrastructure as well as access to multiple export routes. The principal Colombian assets include Acordionero, Costayaco, and Moqueta on the Chaza block, the Suroriente block centered on Cohembi, and the recently acquired interests in Tisquirama and San Roque.  Growth opportunities in Colombia include continued development of Tisquirama, expansion of the Cohembi-Raju area, the Pegasus prospect, and longer-term potential associated with the La Luna formation. In Ecuador, the Chanangue, Charapa, Conejo, Iguana, Perico, and Espejo assets provide a combination of producing fields, discovered resources, and appraisal and exploration opportunities. Maurel & Prom said the assets represent a growth platform supported by existing discoveries and additional potential through waterflood application across the portfolio. For Gran Tierra Energy, the transaction serves as an exit from South America as part of the company’s plan to reduce debt and focus on growth opportunities in Canada and Azerbaijan. Maurel & Prom is a Paris-listed international oil and natural gas exploration and production company majority owned by PT Pertamina Internasional Eksplorasi dan Produksi (PIEP), a subsidiary of Indonesia’s national energy company, PT Pertamina (Persero). Closing, expected by yearend, is subject to shareholder approval, creditor consents, regulatory approvals, and other customary closing conditions.