The Euro Majors’ big bet on new energy

• 04 diciembre 2020

The Euro Majors are building new energy businesses as a key part of net carbon-neutral targets for 2050. How and when will they be able to demonstrate value from renewables investments?

OPEC+ strikes a deal to avoid oil glut

• 04 diciembre 2020

The production cuts agreed by the OPEC+ group in April have been highly effective in rebalancing the oil market after the pandemic sent demand plunging. With hopes growing of a stronger rebound next year, some countries, led by the United Arab Emirates, have been calling for OPEC+ to stick to its plan to allow almost 2 million b/d of extra production in January. But demand is expected still to be weak in the first quarter at least, as the Covid-19 vaccines begin to be rolled out. An OPEC+ production increase of that size would have risked an oversupplied market and falling crude prices. Facing that risk, the OPEC+ ministers pulled back from the brink and agreed a production increase of just 500,000 b/d, to be reviewed for possible further increases every month.

Three factors driving the upstream M&A market

• 02 diciembre 2020

Operators are under growing pressure to optimise portfolios. What are the forces having the biggest impact on decision-making?

Global upstream update: the global sanctions slump, grappling with gas and potential US tailwinds

• 05 marzo 2025

The oil and gas industry faces a cautious yet ambitious 2025

Tough at the top: the threats to US energy dominance

• 10 abril 2025

In this edition of Horizons, we explore how the Trump administration has put US “energy dominance” at the top of its agenda alongside tariffs and international trade.

Norway to earn over US$200 billion from oil and gas sector in 2023

• 16 enero 2023

Norway’s oil and gas operations in the North Sea will continue to churn out cash as the Scandinavian country maintains high production to help support Europe’s energy crisis according to a report by Wood Mackenzie.

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

• 06 diciembre 2022

Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said “The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise, given the uncertainty in the market over the impact of the 5 December EU Russia crude oil import ban and the G7 price cap. In addition, the producers group faces downside risk from the potential for weakening global economic growth and China’s zero Covid policy.”

New mid-caps in Brazil aim to increase mature asset reserves almost 1 billion boe by 2035

• 06 diciembre 2022

With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining reserves by 980 million barrels of oil equivalent (mmboe) by 2035, according to a report from Wood Mackenzie, a Verisk business.

Wood Mackenzie launches Lens Gas & LNG

• 15 noviembre 2022

Wood Mackenzie, the leading provider of decision intelligence for the world’s natural resources sector, has launched Lens Gas & LNG, a new data analytics solution that offers a uniquely integrated view that connects markets and assets on a global scale.

PNG government calls off P'nyang Gas Agreement negotiations

• 03 febrero 2020

The government of PNG has called-off negotiations on the development of the ExxonMobil-operated P’nyang gas field.

New CEO Looney rings changes at BP with ambitious climate plan

• 12 febrero 2020

Speaking after BP’s new chief executive Bernard Looney unveiled the major’s ambitious climate commitments today, Luke Parker, vice president, corporate analysis, said: “BP joins Shell, Total, Equinor and Repsol in making a major commitment to reduce its net carbon footprint. “This marks a major turnaround in BP’s position. Just 12 months ago former CEO Bob Dudley said the company could not be held accountable for how people use its products. Looney is taking the company in a very different direction.” Parker added: “It’s an ambition, rather than a target, but the commitment appears to be unconditional. In terms of scale of commitment, this puts BP towards the top of the pack, along with Repsol and Equinor. “This will see BP’s business completely transformed over the coming decades: renewables and carbon abatement will get very big, legacy oil and gas will eventually get smaller. But the transition to 2050 is a multi-decade transition - not something that will happen in the next year or so.”

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

• 05 marzo 2020

The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.

Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply

• 01 abril 2020

In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year.

US$210bn of new spend in firing line as players target cost cuts

• 02 abril 2020

The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.

Equinor carves Gulf of Mexico niche with Monument discovery

• 06 abril 2020

Norwegian operator Equinor today announced it struck 200 feet of oil pay at the Monument exploration well, in the US Gulf of Mexico.

Shell dividend cut frees up US$10bn

• 30 abril 2020

Anglo-Dutch supermajor Shell today slashed its dividend by 66%, the first time the company has cut cash distributions to shareholders since World War II. The annual pay-out will fall from US$14.9 billion to US$5.1 billion, freeing up US$10 billion of capital.

NOCs to slash over a quarter of exploration budgets on average in 2020

• 20 mayo 2020

National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.

Distress in energy and natural resources

• 22 mayo 2020

Helping investors evaluate opportunities in energy and natural resources during the Covid-19 crisis

High-Frequency Oil Production Monitor

Receive daily oil production estimates for critical oil global producers.

Turkey nets largest-ever find with Tuna-1 gas discovery

• 21 agosto 2020

A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural gas imports has also continued to grow.

Natural Gas Production Forecast

Get the most accurate gas production forecasts in the market, with weekly updates and detailed production forecasts for over 50 regions in North America.

The complexity of capital allocation for oil and gas companies

• 10 octubre 2024

The slower pace of the energy transition is influencing Big Oil’s capital allocation. What share of cash flow is the industry re-investing? How much will upstream spend rise in 2025? Why have NOCs become the biggest spenders on low carbon?

Global upstream update: the global sanctions slump, grappling with gas and potential US tailwinds

• 05 marzo 2025

The oil and gas industry faces a cautious yet ambitious 2025

Russian Federation upstream: 4 things to look for in 2024

• 10 enero 2024

Russia’s upstream outlook continues to be shaped by the consequences of its invasion of Ukraine.

Shifting risks in global oil supply

• 06 octubre 2017

If the demand side of the equation is relatively predictable, oil supply is notoriously difficult. Many of the market’s most colourful moments through history have revolved around supply, with OPEC at the centre of most in the last six decades.

Horizons podcast: Scraping the barrel

• 06 marzo 2023

Is the world running out of high-quality oil and gas? Valentina Kretzschmar, Head of Energy Transition at Capricorn Energy and Andrew Latham, Vice-President of Energy Research at Wood Mackenzie join to discuss this month’s Horizons topic.

Energy transition outlook: Middle East

• 18 febrero 2025

Energy transition progress slows in our latest update – but uncertainty around pace and duration pushes the Middle East to prioritise resiliency.

Energy transition outlook: UK

• 17 febrero 2025

The UK has a renewed focus on accelerating its energy transition and bold plans to create a clean energy superpower. But net zero by 2050 is not yet on course.

Continental Europe upstream: 4 things to look for in 2024

• 10 enero 2024

From the Netherlands to Cyprus, we cover the big themes in 2024 for Continental Europe's upstream sector.

Caspian upstream: 5 things to look for in 2024

• 10 enero 2024

From Central Asia to Azerbaijan, will the Caspian sector seize upstream opportunities?