Insight
Global Upstream Update: our favourite slides and topics – June 2022
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Upstream update: after three years of negotiation, Qatar has begun awarding equity in its North Field East megaproject, starting with TotalEnergies, Eni and ConocoPhillips. This second wave of investment will raise output from 2026. There has been a rush of upstream regulatory and tax reforms. A 25% windfall tax was introduced in the UK, the latest in a long line of tax adjustments. A bolder move would have linked the tax rate to the oil price. Global offshore rig utilisation is reaching 80%, but hotspots like US GoM are at over 90% and rates are sky high. Despite this, contract terms remain short and newbuild capacity relief still looks unlikely. M&A is surging in Sub-Saharan Africa in H1 2022, as Africa focused Independents and indigenous firms see opportunities from the end of the Majors’ dominance.
Table of contents
- Executive summary
Tables and charts
This report includes the following images and tables:
-
M&A activity in SSA
What's included
This report contains:
Other reports you may be interested in
Insight
Global Upstream Update: September 2026
Key themes: novel resource capture strategies, growth opportunities but with caveats, and tougher expansion challenges reveal themselves.
$1,350
Insight
Global Upstream Update: our favourite slides and topics – September 2024
Key themes: regulatory uncertainties; supply chain pressures; low carbon initiatives
$1,350
Insight
Global Upstream Update: our favourite slides and topics – June 2024
Key themes: putting dealflow in context, governments under pressure, unlocking value in shales
$1,350
