2020: navigating upstream’s perfect storm
Catch up on the best of our upstream oil and gas research
The oil and gas industry entered 2020 in the midst of an existential crisis as the energy transition gathered pace. And it was swiftly hit with a new and unexpected crisis in the shape of a global pandemic – and the oil price crash that followed.
The world changed in 2020, and fast. Upstream players have had to react to the intense pressures of Covid-19 – all the while continuing their quest for reinvention, ready for a low carbon future.
2020: the year through our Lens
We’ve closely tracked the impact of a turbulent year and drawn on our unique data and analysis to explore the path ahead. Here are some of the most popular insights from our global upstream experts this year.
What does the oil price crash mean for you?
The coronavirus outbreak threw the oil market into turmoil, sparking a chain of events that led to a record-breaking price fall. Our global experts joined forces to tackle the most pressing questions about the impact on the oil and gas sector.
Oil price crash: what now for fiscal terms?
In May, our experts used Wood Mackenzie Lens to explore the impact of different fiscal policies on project economics at low prices. What are the strengths and weaknesses of possible fiscal responses? And what can be learned from previous price crashes?
Harvest or grow: what’s the future of upstream oil & gas investment?
The upstream outlook has rarely looked so uncertain. Can the sector continue to attract capital? Where are the opportunities for portfolio renewal? And how do you build and maintain resilience in this ever-changing market?
Read: Harvest or grow: what’s the future of upstream oil & gas investment?
Which Supermajors’ portfolios are most resilient?
Who retains the most value at lower prices, and who is most sensitive to change? We used Wood Mackenzie Lens to run low, base-case and high oil price scenarios for ExxonMobil, Shell, Chevron, BP and Total.
Exploration’s future in a low-cost, low-carbon world
The world will rely on oil and gas for much of its energy needs until well beyond 2040. Exploration will be critical in meeting future demand – but can it overcome its image problem and play a surprising role in a low carbon future?
3 factors driving the upstream M&A market
Upstream operators are sharpening their portfolio strategies. What's having the biggest impact on decision-making? Our experts highlight three forces shaping the upstream M&A market and explore how these dynamics are playing out in Australasia.
North Sea decommissioning: a turning point lies ahead
Decommissioning spend will overtake capital expenditure in the North Sea in the next decade. In the wake of the oil price crash operators are focused on preserving cash flow. So how can costs be planned and managed effectively?
The future of energy after Covid-19: three scenarios
How will coronavirus change the world? And what does it mean for long-term energy demand? Many of the questions linked to the global pandemic don't yet have definitive answers – but some clear trends are already visible. We looked at three scenarios based on these trends, with illustrative projections for oil, gas and coal.
