• News Release

  US midstream takes hit as Lower 48 E&Ps turn off taps

  • 03 junio 2020

  The oil price crash has hit the US Lower 48 hard. But as exploration and production companies work to mitigate the impact of the crash on their businesses, their strategies are affecting the region’s midstream players.

• Comment

  Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

  • 06 junio 2020

  OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.

• Comment

  BP asset write-down 'is significant for sector'

  • 16 junio 2020

  Speaking after BP announced it was writing down as much as $17.5 billion when it reports its second quarter results, Luke Parker, vice president, corporate analysis, said: “The impairment shouldn’t come as a big surprise, but the implications – near-term and long-term – are significant.”

• Comment

  Chevron to sell stake in North West Shelf LNG

  • 18 junio 2020

  Chevron continuing to high-grade its portfolio and putting its 16.7% stake in the NWS up for sale makes a lot of sense.

• Opinion

  Horizons Live: Conflicts of interest

  • 14 mayo 2024

  Transitioning to a net zero global economy is a monumental investment challenge. Meeting the challenge, already an outside bet, will have to happen against a less favourable monetary backdrop than the world has been used to since 2009. This month's Horizons live panel discuss the cost of investing in the energy transition in a high-interest-rate era.

• Horizons

  No country for old fields: why high-impact oil and gas exploration is still needed

  • 05 noviembre 2024

  In this Horizons, we make the case that exploration continues to add value, cut carbon intensity and lower the cost for end consumers.

• Horizons

  Gridlock: the demand dilemma facing the US power industry

  • 17 octubre 2024

  This research piece addresses what will be the central theme of US power markets over the next couple of years and potentially beyond.

• Comment

  All eyes on OPEC meeting as group mulls easing of production restraint

  • 01 diciembre 2020

  OPEC held its scheduled bi-annual meeting virtually on 30 November 2020. Though the group was unable to reach an agreement at that meeting, up for discussion is whether the production restraint would be eased starting 1 January 2021.

• Content

  2020: Navigating upstream’s perfect storm

  • 10 diciembre 2020

  Between the existential crisis of the energy transition and the impact of a global pandemic, it's been a challenging year for upstream oil and gas industry.

• News Release

  2-degree pathway could cut upstream gas investments by 65%

  • 12 noviembre 2020

  A world on a 2-degree pathway could significantly reduce upstream gas investments by 65% through to 2040, says Wood Mackenzie.

• Comment

  Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor

  • 16 noviembre 2020

  The commissioning of the Trans Adriatic Pipeline's (TAP) initial 10 bcm per year capacity follows four and a half years of construction, EUR4.5 billion of capex and a variety of obstacles – especially in Italy, where the pipeline ends.

• Comment

  Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration

  • 19 noviembre 2020

  On Wednesday, 18 November, the United States held its region-wide Gulf of Mexico (GoM) Lease Sale 256 and received 105 bids from 23 participating companies, with high bids totalling US$121 million.

• News Release

  Asia Pacific upstream transactions plunge to lowest this century

  • 19 noviembre 2020

  Wood Mackenzie’s latest analysis shows 2020 is on track to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century.

• News Release

  Five consequences of a Biden administration for US energy

  • 07 noviembre 2020

  Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change. He will enter the White House with a goal of setting the US on course for net zero greenhouse gas emissions by 2050 and will take the US back into the Paris climate agreement.

• Comment

  Devon seals WPX merger

  • 28 septiembre 2020

  Speaking after the merger of Devon Energy and WPX Energy was announced this morning, Alex Beeker, principal analyst, corporate upstream, at Wood Mackenzie, said: “Tight oil consolidation has been underway for years, but extreme market volatility has slowed the process considerably. WTI has essentially hovered around US$40/bbl since June, with the stability likely closing the bid-ask spread. “We’ve expected Devon to make a move for some time. With US$1.5 billion in cash on its balance sheet (albeit earmarked for debt reduction), Devon is on a relatively strong financial footing. But Devon has been shrinking fast since its disposal program started in earnest about two years ago. The company’s net production is down 40% since 2018.”

• News Release

  Energy transition to be key driver of Australia’s upstream M&A

  • 01 octubre 2020

  The energy transition is expected to be a major driver of the future of Australia’s upstream M&A, says Wood Mackenzie.

• Comment

  Chrysaor seals North Sea top spot with reverse takeover of Premier Oil

  • 06 octubre 2020

  Privately-held UK Independent Chrysaor is buying London-listed Premier Oil by way of reverse takeover. Premier’s US$2.7 billion of debt and hedging liabilities will be repaid and cancelled via a US$1.232 billion cash payment, plus Chrysaor shares.

• Comment

  Hess sells Shenzi stake to BHP in US$505m deal

  • 05 octubre 2020

  Hess is selling its 28% working interest in the Shenzi field in US Gulf of Mexico to operator BHP.

• News Release

  Portfolio resilience and sustainability at the core of corporate concerns

  • 20 octubre 2020

  Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition kickstarted yesterday. Experts shared their views on how the energy sector is changing in light of the oil price crash, Covid-19 and the latest carbon-neutrality trends.

• News Release

  UK can lead world in net zero energy technologies – but investment is critical

  • 16 septiembre 2020

  Wood Mackenzie today delivered a comprehensive roadmap for the North Sea’s future to the OGTC, setting out the critical technologies needed to deliver an integrated net zero energy system on the UK Continental Shelf (UKCS), positioning the UK as a world-leader in the move to a low carbon world.

• News Release

  Indonesia’s straddle between gross split and cost recovery is positive step forward

  • 17 septiembre 2020

  Introducing a choice between gross split and cost recovery for new licences is a positive step forward for Indonesia's upstream sector, says Wood Mackenzie.

• Comment

  BP underscores commitment to energy transition

  • 04 agosto 2020

  Today’s BP strategy update marked a big step forward, filling in many of the blanks, including detailed guidance to 2030. It leaves stakeholders with a much clearer idea of where BP is headed over the next decade, how it will to get there and what that means for the value proposition.

• Comment

  Chevron swoops on Noble in US$13bn deal

  • 20 julio 2020

  Chevron is set to buy Noble Energy in a US$13 billion all-stock transaction, including US$5 billion in equity. This is the first large-scale corporate acquisition of this downturn.

• News Release

  India’s new deepwater supply could face pressure from low spot LNG prices

  • 21 julio 2020

  India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.

• Comment

  Woodside takes impairment but is a US$80 carbon price the bigger news?

  • 15 julio 2020

  Wood Mackenzie analysts delved deeper into implications of Woodside's announced US$80 carbon price.

• Content

  Women in energy

  • 23 julio 2020

  We showcase research and analysis from some of our most accomplished and influential women in energy and natural resources. Meet some of the many outstanding women we're proud to work with – and explore their latest thinking.

• Comment

  Shell's write-down of Australian assets not a surprise

  • 01 julio 2020

  It’s no surprise to see Shell writing down the value of its assets, in line with the new post-pandemic energy demand outlook. In fact, we’ve revised the value of oil and gas assets in Asia Pacific by US$200 billion as a result of a lower oil price outlook.

• Comment

  ExxonMobil (NYSE: XOM) Strikes Oil in Guyana with the Turbot-1 well

  • 06 octubre 2017

  Following ExxonMobil's (NYSE: XOM) announcement this morning of its fifth new oil discovery after drilling the Turbot-1 well offshore Guyana, Pablo Medina, Wood Mackenzie's senior analyst, Latin America Upstream has the following comments.

• Comment

  Brazil and ExxonMobil win big at oilfield auction

  • 05 octubre 2017

  Following Brazil's record oil field auction yesterday, where ExxonMobil (NYSE: XOM) vastly expanded its presence in the country with winning stakes in ten blocks, including eight deepwater blocks in the Campos basin, Horacio Cuenca, Research Director, Upstream Latin America at Wood Mackenzie offers the following commentary.

• News Release

  What's behind Libya's production boost?

  • 20 octubre 2017

  Libya's oil production has increased steeply from August 2016’s low point of below 300,000 barrels per day (b/d) to around 850,000 b/d at present, passing the 1 million b/d barrier in July. But Wood Mackenzie believes Libya may now be reaching its near-term production limits and future growth will be gradual.