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News Release
BP's double proves there's life in the old dog yet
- 31 January 2018
BP announced it made two discoveries on the UK Continental Shelf in 2017 - Capercaillie, in the North Sea, and Achmelvich, in the West of Shetland. Wood Mackenzie believes the finds prove there's still life in the ultra-mature province.
News Release
Can upstream cost savings stick?
- 15 December 2017
The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.
News Release
Upstream companies shift focus from ‘survive’ to ‘thrive’ in 2018
- 14 December 2017
2018 looks set to be a brighter year for upstream oil and gas companies
News Release
OPEC stays the course with production deal
- 01 December 2017
OPEC and non-OPEC producers agree to extend production curbs through 2018
Comment
Wood Mackenzie commentary on India CERA Week
- 09 October 2017
To mark the start of the India Energy Forum by CERA week, Wood Mackenzie analysts weigh in on the country's oil and gas outlook and production prospects.
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- Asset Report
  Tal (Manzalai and Makori)
  - 27 February 2026
  MOL has made six discoveries in the Tal Block which is located in the Upper Indus Potwar Basin. The Manzalai field was appraised during 2005 confirming gas reserves. The other discoveries, while relatively smaller in size, are high in calorific content and have provided significant upside.MOL is currently producing from five fields across the Tal block. The development and production lease (D&PL)…
- Asset Report
  Teca
  - 27 February 2026
  Teca is a heavy oil field that has been producing since 1989. Operators have been applying cyclic steam injection to produce from the field. Project economics are dependent on securing gas supplies. We assume the operator has secured gas feedstock at a competitive rate. However, current activities at Teca are restricted to minimal maintenance of existing production facilities, with operations…
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News Release
Shale sector to be cash flow positive by 2020
- 26 July 2017
When will tight oil make money calculates that the five largest tight oil players could become cash flow positive by 2020?v
News Release
Better times head for the UKCS, but investment still a concern
- 17 January 2017
Wood Mackenzie expects a modest recovery due to the improving oil price.
News Release
Eni makes discovery of the year, named most-admired upstream explorer
- 17 June 2022
Italian major Eni has, for the fourth time in seven years, been named the upstream industry’s most-admired explorer, an accolade awarded as part of Wood Mackenzie’s industry-leading annual Exploration Survey.
News Release
Wood Mackenzie launches Lens Gas & LNG
- 15 November 2022
Wood Mackenzie, the leading provider of decision intelligence for the world’s natural resources sector, has launched Lens Gas & LNG, a new data analytics solution that offers a uniquely integrated view that connects markets and assets on a global scale.
News Release
OPEC+ prepares for market uncertainty with continued 2 million b/d production cut
- 06 December 2022
Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said “The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise, given the uncertainty in the market over the impact of the 5 December EU Russia crude oil import ban and the G7 price cap. In addition, the producers group faces downside risk from the potential for weakening global economic growth and China’s zero Covid policy.”
News Release
New mid-caps in Brazil aim to increase mature asset reserves almost 1 billion boe by 2035
- 06 December 2022
With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining reserves by 980 million barrels of oil equivalent (mmboe) by 2035, according to a report from Wood Mackenzie, a Verisk business.
News Release
Norway to earn over US$200 billion from oil and gas sector in 2023
- 16 January 2023
Norway’s oil and gas operations in the North Sea will continue to churn out cash as the Scandinavian country maintains high production to help support Europe’s energy crisis according to a report by Wood Mackenzie.
News Release
Veritas Capital completes acquisition of Wood Mackenzie
- 02 February 2023
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
News Release
Wood Mackenzie appoints new Chief Financial Officer
- 27 March 2023
Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Simon Crowe to its global executive leadership team as Chief Financial Officer (CFO), effective 27th March.
News Release
Sakarya Phase One kick-starts Turkey’s upstream sector transformation, making nation less reliant on gas imports
- 20 April 2023
Addressing Turkish Petroleum Corporation’s (TPAO) launch of Sakarya Phase One, Ashley Sherman, Research Director, Caspian & Europe Upstream Oil and Gas for Wood Mackenzie said “Sakarya Phase One redefines the scale of Turkey’s upstream sector, bringing its first deepwater output and a fundamental shift in domestic energy security. To date, Turkey has relied almost entirely on gas imports to meet its demand. Sakarya Phase One will put a sizeable dent into the country’s energy import bill, which reached an eye-watering US$97 billion in 2022. But Phase Two would be the real gamechanger, enabling Sakarya to cover almost 30% of Turkey’s gas consumption by 2030.”
News Release
Kan discovery in Mexico’s shallow water one of the largest since 2020
- 02 May 2023
Addressing Wintershall Dea’s Kan-1 discovery, Adrian Lara, Principal Research Analyst Latin America Upstream Oil and Gas, said “With Wintershall Dea’s first operated exploration well drilled in Mexico, the announced expected resource of 200 to 300 million barrels of equivalent of oil and gas in place outperforms the original prospective resource estimated at 196 mmboe. The discovery is one of the largest in Mexico’s shallow-water since Zama, made by Talos in 2017 and Saasken made by Eni in 2020.”
News Release
Floating rig utilization rebounds to pre-COVID levels
- 12 June 2023
Rig utilization has returned to pre-COVID levels, driving rates up 40 percent in the past year as demand is forecast to increase another 20 percent from 2024-2025, according to a recent report from Wood Mackenzie.
News Release
TotalEnergies named most-admired upstream explorer in Wood Mackenzie’s 15th annual Exploration Survey
- 27 June 2023
French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey.
News Release
North American renewable natural gas market could expand tenfold by 2050 to reach 4 bcfd
- 17 July 2023
Driven by new government incentives for the transportation sector, renewable natural gas (RNG), or biomethane, saw tremendous growth in 2022, with 60 million cubic feet per day (mmcfd) of new production capacity added, according to a new report from Wood Mackenzie.
News Release
US$500 billion (2023 terms) investment in global oil and gas asset development enough to meet peak demand in 2030s
- 20 July 2023
Despite concerns about underinvestment in upstream, peak oil and gas demand can be met in the 2030s without a substantial increase to current annual asset development investment levels of US$500 billion in 2023 terms, according to a new Horizons report from Wood Mackenzie.
News Release
FLNG sector thriving amid projects boom
- 31 August 2023
The right economic and geo-political conditions mean that the outlook for the global floating liquified natural gas (FLNG) project sector is bullish according to a new report by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
News Release
Australia sees record volume of upstream M&A deals, despite regulatory turmoil
- 16 November 2023
Australia sees record volume of upstream M&A deals, despite regulatory turmoil
News Release
President Elect Milei set to shake up Argentina’s oil industry
- 28 November 2023
Addressing the election of Javier Milei as President of Argentina, Adrian Lara, principal analyst, said “Elected President Javier Milei and his advisors are signalling the importance the oil and gas sector has in their plans for the overall Argentinian economy, however, their success in deregulating the sector and attracting more investment is still predicated on an effective and timely correction of the macroeconomic imbalances of the country.”
News Release
Southern cone gas and power market to invest US$46 billion in gas production and US$94 billion in new power supply through 2033
- 30 November 2023
Driven by advances in batteries and lower costs, solar will outpace wind growth rates and become the leading technology for expansion over the next ten years in Argentina, Brazil, and Chile. The total solar market is set to add 48 gigawatts (GW) of utility and distributed projects, while wind will add 31 GW of onshore projects through 2033, with the total investment in new power supply leading to a cumulative capacity of 400 GW by 2033, based on a new analysis from Wood Mackenzie.
News Release
Companies loosen purse strings to bid high for deepwater blocks in US Gulf of Mexico Lease Sale 261
- 20 December 2023
The United States today concluded the 2017-2022 leasing plan with the US Gulf of Mexico region-wide lease sale 261. The sale attracted 352 bids from 26 participating companies, with high bids totaling US$382 million, an increase of 45% (US$118 million) compared to the last lease sale held in March.
News Release
Key things to watch in upstream in 2024
- 11 January 2024
Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie recently released its What to Look for in 2024 upstream series. Key themes to watch in global and corporate upstream include continued consolidation, increased activity from NOCs, reversing decarbonisation gains, shifts in strategic playbooks and an upstream investment plateau.
News Release
Chesapeake and Southwestern merger creates dominate player in the Haynesville
- 12 January 2024
Addressing Chesapeake Energy and Southwestern Energy’s merger and formation of a new $24 billion natural gas company, Alex Beeker, research director, corporate research for Wood Mackenzie said, “The Haynesville has been in need of a clearer narrative to win investor support and with a new and dominant team planning the Haynesville and Bossier’s future, investors can look to a single E&P to better understand development cadence, inventory longevity, evolving cost of supply and step-out appraisal work.”
News Release
Saudi Aramco’s shift to abandon its 13 million b/d capacity target likely to be absorbed by the market
- 01 February 2024
Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in 2030, the shift to a 12 million b/d target from 13 million b/d should be absorbed in the market and not cause a tightening in the supply and demand balance this decade.”
News Release
A delayed energy transition could make or break the upstream sector
- 16 January 2025
As the risk of a delayed energy transition scenario increases, so does the possibility of a much greater pull on future oil & gas supply. But meeting this demand would require a significant increase in upstream investment, resulting in higher hydrocarbon prices and significant shifts in corporate strategy, according to the latest Horizons report from Wood Mackenzie.
News Release
High-impact oil and gas exploration could cut global scope 1 and 2 emissions by 6% in 2030
- 21 November 2024
Investment in oil and gas exploration has plummeted two-thirds in the last decade, but the industry still has a critical role to play in decarbonisation efforts and providing advantaged barrels in the energy transition, according to the latest Horizons report from Wood Mackenzie.

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Search results: 1459

BP's double proves there's life in the old dog yet

Can upstream cost savings stick?

Upstream companies shift focus from ‘survive’ to ‘thrive’ in 2018

OPEC stays the course with production deal

Wood Mackenzie commentary on India CERA Week

2891 related products from the Store that match

Tal (Manzalai and Makori)

Teca

Shale sector to be cash flow positive by 2020

Better times head for the UKCS, but investment still a concern

Eni makes discovery of the year, named most-admired upstream explorer

Wood Mackenzie launches Lens Gas & LNG

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

New mid-caps in Brazil aim to increase mature asset reserves almost 1 billion boe by 2035

Norway to earn over US$200 billion from oil and gas sector in 2023

Veritas Capital completes acquisition of Wood Mackenzie

Wood Mackenzie appoints new Chief Financial Officer

Sakarya Phase One kick-starts Turkey’s upstream sector transformation, making nation less reliant on gas imports

Kan discovery in Mexico’s shallow water one of the largest since 2020

Floating rig utilization rebounds to pre-COVID levels

TotalEnergies named most-admired upstream explorer in Wood Mackenzie’s 15th annual Exploration Survey

North American renewable natural gas market could expand tenfold by 2050 to reach 4 bcfd

US$500 billion (2023 terms) investment in global oil and gas asset development enough to meet peak demand in 2030s

FLNG sector thriving amid projects boom

Australia sees record volume of upstream M&A deals, despite regulatory turmoil

President Elect Milei set to shake up Argentina’s oil industry

Southern cone gas and power market to invest US$46 billion in gas production and US$94 billion in new power supply through 2033

Companies loosen purse strings to bid high for deepwater blocks in US Gulf of Mexico Lease Sale 261

Key things to watch in upstream in 2024

Chesapeake and Southwestern merger creates dominate player in the Haynesville

Saudi Aramco’s shift to abandon its 13 million b/d capacity target likely to be absorbed by the market

A delayed energy transition could make or break the upstream sector

High-impact oil and gas exploration could cut global scope 1 and 2 emissions by 6% in 2030

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