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Energy Snapshot: Industry Themes - November 2015

Energy Snapshot: Industry Themes - November 2015

Report summary

A year after Saudi Arabia's decision to compete for market share, and the collapse in the oil price, the oil industry is responding.  We forecast the oil price to recover to $70/bbl by the end of 2017, as we see decline rates rise and US production slipping by more than the potential increased volumes from Iran.

Investment has collapsed and we highlight the fall in exploration drilling and the additional loss of forecast production. The US has become the most attractive investment case at current oil prices.  Elsewhere, the high cost nature of the UK North Sea, combined with poor recent exploration performance, suggests that by 2022 decommissioning expenditure will outweigh new investment.

As the corporates re-examine their portfolios, we highlight the proportion of capital expenditure of the large-caps that is yet uncommitted and show the potential deficits of the US independents in 2016.

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  • WM Energy Snapshot - Industry Themes November 2015.pdf PDF - 1.57 MB


This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Searching for growth in a low oil price environment

In this report there is 1 table or chart, including:

  • Searching for growth in a low oil price environment
    • Energy Snapshot: Industry Themes - November 2015: Image 1
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