Global Upstream Update: our favourite slides and topics – June 2024

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The Global Upstream Update is a regular Insight produced for global clients. This edition includes: 1. Deals keep flowing: but despite the surge in US Lower 48 M&A, global deal count remains low. And deal valuations remain mostly disciplined, with implied prices edging up rather than rocketing higher. 2. Governments under pressure: Egypt is turning to LNG imports again as blackouts continue to shine an uncomfortable spotlight on declining gas production. Russia needs a new pipeline to China. But negotiations were always going to be tough when there’s only one buyer. 3. Cracking uncons codes: ExxonMobil is focused on delivering synergies on its Pioneer deal. How? By eliminating unproductive downhole capital and optimising for integrated project NPV. 4. International expansion plans: acquisitive international NOCs will double their share of Sub-Saharan African output by 2030. Most have partnered with the Majors, but not all.

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  • Upstream dealflow keeps coming, but does that transform the sector?

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  • Document

    Global Upstream Update June 2024.pdf

    PDF 2.04 MB