• Comment

  Jebel Ali gas find ‘largest since 2005’

  • 03 2月 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 2月 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 2月 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 3月 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 3月 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?

• News Release

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

  • 01 4月 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.

• Comment

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

  • 02 4月 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: IMO 2020 impact on upstream producers, LNG and bulks(2)

  • 07 5月 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.

• Webinar

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

  • 08 4月 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 4月 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 4月 2020

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

• Comment

  Arrow Energy sanctions Surat Gas Project

  • 17 4月 2020

  Arrow Energy sanctions Surat Gas Project

• Webinar

  Webinar | Oil price crash: fiscal responses

  • 30 4月 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.

• Webinar

  Webinar | Widespread shut-ins to tight oil is uncharted territory. How might this unfold?

  • 07 5月 2020

  Widespread shut-ins to tight oil is uncharted territory. How might this unfold? Who and where will likely be impacted the most? How will producers create a shut-in strategy? How deep can shut-ins go? How much of the shut-in volume comes back online?

• Comment

  Shell dividend cut frees up US$10bn

  • 30 4月 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.

• Webinar

  Webinar | Global exploration before and after Covid-19

  • 28 5月 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 5月 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 5月 2020

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

• Webinar

  Webinar | Low oil prices: where next for the Australasian upstream sector?

  • 02 6月 2020

  Australia’s upstream sector was set for a bumper year in 2020. We expected a ramp-up of LNG supply, billions of dollars of new upstream investment, and plentiful growth opportunities via exploration and M&A. But everything changed. The double impact of the coronavirus and the oil price crash has swept through the industry. Upstream operators are in a fight for survival. Join Wood Mackenzie's Australasian team for a live webinar discussing what happens next and why, including: • How the investment outlook has changed • The big reset of pre-FID project timelines, and what it all means • Do low prices present an M&A opportunity? Presenters: Adele Long – Senior Research Manager Daniel Toleman – Senior Research Analyst David Low – Senior Research Analyst

• Editorial

  Shale frackers face uphill battle with increasing well declines

  • 09 4月 2019

  The explosive expansion of American shale oil production is becoming unsustainable for North American companies from Texas to North Dakota.

• Featured

  What's the future of exploration? We asked explorers

  • 29 4月 2019

  The results from our annual Exploration Survey are in. The industry has had their say on all things exploration, from budgets and technology to portfolios and peers.

• Opinion

  Deepwater's Latin America comeback

  • 16 4月 2019

  Latin America is the hotspot for deepwater project and exploration activity. As more top companies take a risk on exploration plays in the region, what challenges lie ahead?

• Featured

  Why FIDs matter

  • 15 4月 2019

  Angus Rodger's quick guide to global upstream oil and gas project sanctions. He answers common questions on FIDs, such as why FIDs matter, what the number of FIDs announced in year tells us, whether investors are favouring oil or gas, and more.

• Opinion

  Middle East leads the pack in 2018 FID bonanza

  • 15 4月 2019

  11 projects sanctioned in the Middle East as producers look to take advantage of the lower cost environment. What’s behind the boom?

• Editorial

  FID bonanza, upstream cost curves, US solar markets: this week's featured insights

  • 02 4月 2019

  What's new in store? Get the highlights from some of our most popular insights across the entire natural resources value chain. This week, upstream cost curves, FID bonanza and US solar markets.

• The Edge

  Technology may be a game changer for future oil supply

  • 26 3月 2019

  A giant oil supply gap looms. How to fill it? It’s the preoccupation of the E&P sector. Harry Paton, Senior Analyst, Global Oil Supply, identifies the contribution from each of the traditional four sources.

• Editorial

  Australia 2019: exploration and M&A activity abound

  • 22 3月 2019

  Listen to Asia Pacific Energy Brief, episode 14: Australia 2019: exploration and M&A activity abound

• Editorial

  Renewed confidence in Asia Pacific’s upstream sector

  • 22 3月 2019

  Listen to Asia Pacific Energy Brief, episode 12: 2019 oil and gas outlook for Asia-Pacific

• Opinion

  Unlocking exploration’s hidden value

  • 21 3月 2019

  Exploration is making money again. After a difficult few years, the sector's disciplined approach has begun to bear fruit. How evaluate the true cost of exploration?

• The Edge

  Tight oil news: Majors go bullish as Independents rein in

  • 12 3月 2019

  The Permian is being industrialised – fact. Chevron and ExxonMobil aggressively raised production targets this week, underlining the basin’s potential for growth.