• News Release

  Increased uncertainty to colour upstream sector’s decision-making in 2020

  • 09 enero 2020

  The level of uncertainty and anxiety among upstream producers and supply chain has rarely been higher. In 2020, decision-making will be more heavily influenced by sentiment surrounding the energy transition, political upheaval and trade disputes than in previous years. This adds to the ever-present risks of unexpected supply-demand imbalance, niche cost inflation or a global economic downturn. What are the biggest trends to watch in the upstream oil and gas business in 2020? Fraser McKay, head of upstream analysis at Wood Mackenzie, sees five key themes.

• News Release

  Asia Pacific upstream - 5 themes to watch in 2020

  • 19 diciembre 2019

  Wood Mackenzie has identified five themes related to project sanctions, exploration, M&A, energy transition and IMO 2020 that will impact Asia Pacific’s upstream industry in 2020.

• News Release

  Can Europe cope if Russia shuts off Ukraine gas transit?

  • 19 diciembre 2019

  The gas transit and supply contracts between Russia and Ukraine expire at 10 am on 1 January 2020 (Moscow time) – the future of Ukraine transit remains the largest uncertainty for global gas markets in 2020. Murray Douglas, director, European gas at global natural resources consultancy Wood Mackenzie, said: “Ukraine remains the major transit route for Russian gas into Europe – over 76 billion cubic metres (cm) will be transported via Ukraine this year."

• Comment

  Talos shells out US$640m for Gulf of Mexico assets

  • 12 diciembre 2019

  Talos Energy, in its pursuit of growth in the US Gulf of Mexico, has announced a series of purchases, worth $640 million assets in the region

• News Release

  Anchor's aweigh as Chevron gives nod to US Gulf of Mexico development

  • 12 diciembre 2019

  Chevron has given the green light to the Anchor development in deepwater US Gulf of Mexico. This is Chevron’s first greenfield final investment decision as an operator since its sanction of Big Foot and Jack/St Malo in 2010.

• Webinar

  Webinar | Shale service costs in 2020: what is the market telling us?

  • 27 enero 2020

  Last year, costs fell by double-digit percentages for several major spend categories. However, today’s cost environment is considerably different from twelve months ago. Will the deflationary period stick around, or should we expect a change in 2020? During the webinar, our analysts covered topics such as: • Which cost categories fell the most last year, and what was the influence on overall well costs? • E&P budgets will reset in January and, in our view, reverse the rig count freefall. But should we expect costs to turn around as a result? • What could force service costs higher, and when could we expect the market to change? • If costs increase, which components are most at risk and what’s the economic impact?

• Comment

  What does the US-China trade deal mean for refiners - and for the market?

  • 20 enero 2020

  After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by US$52.4 billion above 2017 levels over the next two years. What could it mean for the oil market?

• Comment

  India's 2020 energy outlook

  • 23 enero 2020

  India's 2020 energy outlook

• Comment

  Jebel Ali gas find ‘largest since 2005’

  • 03 febrero 2020

  The announcement of an 80 trillion cubic feet (tcf) find at Jebel Ali, on the border between Abu Dhabi and Dubai, is hugely significant for the United Arab Emirates. Liam Yates, an analyst on Wood Mackenzie’s Middle East upstream team, said: “The find ranks as the largest global gas discovery since Galkynysh (South Iolotan). The Turkmen field was discovered in 2005."

• Comment

  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.

• Comment

  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.”

• News Release

  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.

• Webinar

  Navigating the Oil Price Crash in Asia Pacific

  • 18 marzo 2020

  On 9th March, Brent fell 30% and has seen continued volatility in the following 24 hours, sending a shockwave through global energy markets. What does this mean for Asia Pacific?

• Webinar

  Webinar | LNG Summer Outlook 2020

  • 26 marzo 2020

  In this webinar, Genscape and Wood Mackenzie analysts will cover the global LNG market, including perspectives of Europe and Asia, and what this means for the US market during Summer 2020.

• News Release

  China’s crude reserves to reach 1.15 billion barrels in 2020

  • 23 marzo 2020

  Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.

• News Release

  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.

• Webinar

  Webinar: IMO 2020 impact on upstream producers, LNG and bulks(2)

  • 07 mayo 2019

  Join us on this upcoming webinar where our industry experts will discuss how and where the ripples will be felt as we edge nearer to the implementation date of 1st January 2020.

• Comment

  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.

• Webinar

  Webinar: Oil price crash: navigating the impact on activity, supply chains and cost

  • 08 abril 2020

  In this webinar we bring together experts from Wood Mackenzie’s Lower 48, upstream and upstream supply chain teams as well as our sister company, Power Advocate, to discuss the impact of the oil price crash on activity levels, the service sector industry and costs.

• Webinar

  Webinar: What oil supply is at risk of shut in?

  • 09 abril 2020

  During the last downturn in 2015/16 supply was relatively unaffected. Even the highest cost wedges kept producing; the associated shut-in costs were deemed too high. But prices only dipped below US$45/bbl for a year, and below US$35/bbl for one quarter. Storage levels were of less concern. There is no precedent for the scale of potential shut-ins for today’s asset classes, if oil prices remain low for a prolonged period. The industry’s ability to keep higher-cost barrels flowing is being severely tested. This downturn, there could be a significant impact on currently producing fields as well as future supply.

• Comment

  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.

• News Release

  Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

  • 16 abril 2020

  Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.

• Comment

  Arrow Energy sanctions Surat Gas Project

  • 17 abril 2020

  Arrow Energy sanctions Surat Gas Project

• Webinar

  Webinar | Oil price crash: fiscal responses

  • 30 abril 2020

  Oil price crash: what next for fiscal terms? Petroleum investors, producers, suppliers and governments are coming together to try and find solutions to the current industry crisis. The oil revenue cake that they all feast on has shrunk, dramatically.

• Comment

  Petrobras acts to protect gas value chain as Brazil demand slumps

  • 24 abril 2020

  Petrobras’ handling of the crisis it faced as Brazilian gas demand slumped earlier this month offers valuable lessons to integrated players, Mauro Chavez, head of Latin America Gas & LNG at global natural resources consultancy Wood Mackenzie, says.

• Comment

  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.

• News Release

  Bangladesh to double its fossil fuel imports in a decade

  • 14 mayo 2020

  Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.

• Webinar

  Webinar | Global exploration before and after Covid-19

  • 28 mayo 2020

  Our annual survey of the global exploration industry, conducted largely before coronavirus hit and the oil price crashed, showed signs of cautious optimism. Despite the threat posed by the energy transition, explorers were looking forward to another 30 years of exploration. There was, however, a keen awareness of the challenges ahead – the fight to remain investible, the need to increase capital efficiency and the opportunities and risks presented by deepwater exploration. Join us for a webinar discussing the results on the 2020 survey both in the context of the pre-COVID-19 view and in light of the new world we live in. We’ll cover which exploration companies stood out from the pack in 2019, the changing focus of explorers and the role of exploration in today’s energy companies.

• News Release

  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.

• Content

  Distress in energy and natural resources

  • 22 mayo 2020

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