In the corporate world of upstream oil and gas, time is a valuable commodity.
If you need to understand the core issues of the week at a glance, then the Corporate Week in Brief provides essential highlights, assessing the key implications and delivering expert insight. Rapidly access Wood Mackenzie’s opinion of the latest developments in the Corporate E&P space, ensuring that have your finger on the pulse in this fast-moving sector.
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Lead stories: ExxonMobil confirms world-class discovery at Liza; BP sanctions Tangguh Train Three; ExxonMobil reportedly behind competing bid for InterOil
Macro:oil’s Q2 bull run; industry cost curve falls dramatically; European Majors rally on dividend sustainability.
Companies: Southwestern continues to de-lever; Premier's lenders waive debt covenants; Kosmos provides Jubilee operational update.
M&A: flurry of activity in Latin America, as Gran Tierra acquires PetroLatina, Ecopetrol launches minor fields offering and Harvest Natural Resources finally exits Venezuela.
Lead stories: BREXIT! What does it mean for the energy sector?
Macro:Brent slips on Brexit and Saudi's optimism; BP and Shell outperform in the post Brexit market turmoil.
Companies: BP sanctions another Egyptian gas development and reconfirms its E&P strategy; Woodside approves re-scoped Australian oil project.
M&A: North America M&A continues to gather steam, with Marathon, Encana, Energen and QEP announcing deals; new Albertan M&A rules could reduce the pool of potential buyers.
Lead stories: Pioneer consolidates its core Permian Basin portfolio and issues more equity as it positions for aggressive growth; Repsol responds to Sinopec's US$5.5 billion UK claim.
Macro:Brexit vote spills into oil markets; oil and gas shares slip but then recover some lost ground.
Companies: Total's latest move in renewables aimed at unlocking demand.
M&A: Devon hits the low end of its US$2 to US$3 billion disposal target; EOG puts Haynesville assets on the market; Petrobras unveils more plans for non-upstream asset sales; ExxonMobil and BHP look to sell mature Australian oil assets.
Other: Gazprom, Shell, BP and Rosneft strike deals at the St. Petersburg Economic Forum.
Lead stories: Shell wins over investors in its Capital Markets Day; BP and Det Norske announce creative Norwegian deal.
Macro:Brent notches up another weekly gain; oil and gas shares outperform.
Companies: Rosneft and Lukoil strengthen their balance sheets; Pemex to offer exciting deepwater discovered resource opportunity.
M&A: the trend of US gas-led deals continues as Devon and Southwestern announce asset sales; new Petrobras CEO looks to maintain asset sales momentum.
Exploration: Eni continues rich run of success in Egypt; Statoil completes Newfoundland exploration campaign.
Lead stories: upstream M&A activity bounces back in May.
Macro:Brent dips as OPEC meet; Henry Hub soars; US gas Independents buck a trend of profit taking among oil and gas companies.
Companies: Noble Energy edges closer to Leviathan development approval; Chevron most at risk from Thai contract expiries; California Resources unveils reverse stock split; Hercules Offshore enters Chapter 22.
M&A: Total targets Chemicals asset sale; Statoil consolidates holding in small UK gas/condensate field.
Lead stories: Total's ambitious shift to gas; Majors continue to weigh up renewables as strategies diverge.
Macro:Wood Mackenzie lowers oil price forecast but still expects prices to rise by 70% this decade.
Companies: the Majors position themselves for large Qatar discovered oil resource opportunity; Chevron hit by further attacks in Nigeria; DONG launches IPO.
M&A: PTTEP indicates interest in Chevron's Myanmar gas portfolio.
Lead stories: US$6 billion of deals announced last week; Oil Search acquires InterOil; Range diversifies into Gulf Coast gas.
Macro: Brent rises on supply outages; oil and gas shares relatively flat.
Companies: counter-cyclical exploration strategies in play; new CEO at Petrobras as the company returns to the debt markets.
Exploration: another appraisal success for Cairn in Senegal; Statoil and Lundin lead the charge in Norway's 23rd licensing round.
M&A: FMC Technologies and Technip join to form integrated EPIC/subsea heavyweight.
Lead stories: LINN Energy files for Chapter 11; debt held by bankrupt US E&P companies nearly double last month's figure.
Macro: Brent rises on supply outages; oil and gas shares relatively flat.
Q1 2016 results: net debt rises at International Independents; asset deals and newfield start-ups could trigger deleveraging; YPF and EcoPetrol report profits.
Companies: the Majors forced to shut-in over 105 kb/d in Nigeria; Shell creates renewables division.
M&A: BP doubles stake in UK gas field, Kunlun Energy looks to exit upstream.
Q1 2016 results: North American Independents focus on balance sheet management but deliver a strong operational performance; the beginning of a new era for Shell.
Macro: crude softens on inventory build; Saudis shake up oil ministry; profit taking in oil and gas shares.
Companies: Total expands renewables with US$1.1 million deal; wildfires in Fort McMurray disrupt oil sands operations; Chevron shuts-in Nigerian production.
M&A: Lundin and Statoil strike an innovative deal; Noble highgrades core Niobrara portfolio; Petrobras' 2016 disposal programme finally gets going.
Q1 2016 results: profits hit by falling prices and refining margins; ExxonMobil stands out as the Majors' gearing creeps up; Asian NOCs make progress in deleveraging; attention shifts to the US Independents' oil price recovery response.
Macro: crude touches five month highs; bullish prospects for US gas; oil and gas rally encounters investor fatigue?
Companies: Tullow upgrades Kenyan resources but plans hit by oil pipeline decision.
M&A: Halliburton – Baker Hughes deal collapses; Suncor targets more bottom-of-the-cycle M&A; Husky achieves an attractive multiple in midstream disposal.
Other: Yamal LNG hits a milestone in project financing.
Lead stories: Q1 results preview – a savage quarter but could Q1 2016 be the turning point?
Macro: crude up in a broader commodity price rally; oil and gas shares soar.
Companies: Pacific E&P unveils radical restructuring plan; Southwestern makes further progress in cutting costs; Australian companies' Q1 operational results; Total to set up new Gas, Renewables and Power division.
M&A: Chevron sells Hawaii refinery; Repsol makes midstream/downstream disposals; Devon's US$200 million Mississippian asset sale; Sinopec International brings in Chinese government investors.
Other: Transocean's declining rig activity.
Lead stories: Russia's plans to sell a 19% stake in Rosneft; winners and losers from borrowing base redeterminations.
Macro: no production freeze in Doha but fundamentals poised to improve; an air of optimism returns as energy shares outperform; highlights from the LNG18 conference.
Companies: Premier on track for financial inflexion point with first production from Solan; Pacific E&P enters exclusive restructuring talks.
M&A: SE Asian NOCs alert for M&A with multi billion dollar war chest; Marathon's US$950 million of asset sales; Petroceltic takeover takes another twist.
Exploration: the latest results from Statoil’s Krafla Area exploration programme.