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All eyes on OPEC meeting as group mulls easing of production restraint
- 01 December 2020
OPEC held its scheduled bi-annual meeting virtually on 30 November 2020. Though the group was unable to reach an agreement at that meeting, up for discussion is whether the production restraint would be eased starting 1 January 2021.
News Release
Asia Pacific upstream transactions plunge to lowest this century
- 19 November 2020
Wood Mackenzie’s latest analysis shows 2020 is on track to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century.
Comment
Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration
- 19 November 2020
On Wednesday, 18 November, the United States held its region-wide Gulf of Mexico (GoM) Lease Sale 256 and received 105 bids from 23 participating companies, with high bids totalling US$121 million.
Comment
Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor
- 16 November 2020
The commissioning of the Trans Adriatic Pipeline's (TAP) initial 10 bcm per year capacity follows four and a half years of construction, EUR4.5 billion of capex and a variety of obstacles – especially in Italy, where the pipeline ends.
News Release
2-degree pathway could cut upstream gas investments by 65%
- 12 November 2020
A world on a 2-degree pathway could significantly reduce upstream gas investments by 65% through to 2040, says Wood Mackenzie.
2891 related products from the Store that match
- Asset Report
  Absheron (Deep Water)
  - 18 February 2026
  The giant deepwater Absheron gas-condensate field is located offshore in the Caspian Sea. Work on a US$1.4 billion Early Production Scheme (EPS) started in 2017. The EPS consists of a single highly productive development/appraisal well, capable of supplying up to 37,000 boe/d of gas and condensate. This includes 145 mmcfd (1.5 bcm a year) of gas for Azerbaijan's domestic market. All condensate…
- Asset Report
  Obskiy fields
  - 18 February 2026
  Obskiy Gas Chemical Complex is a subsidiary of NOVATEK with two fields in Yamal-Nenets - West Seyakhinskoye and Verkhnetiuteiskoye. Both are less than 100 kilometres from the port of Sabetta. NOVATEK is intending to build an LNG plant near the site of Yamal LNG. There have been several delays and revisions to this plan which have created a lot of uncertainty regarding its delivery. NOVATEK is…
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News Release
Five consequences of a Biden administration for US energy
- 07 November 2020
Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change. He will enter the White House with a goal of setting the US on course for net zero greenhouse gas emissions by 2050 and will take the US back into the Paris climate agreement.
Comment
Chrysaor seals North Sea top spot with reverse takeover of Premier Oil
- 06 October 2020
Privately-held UK Independent Chrysaor is buying London-listed Premier Oil by way of reverse takeover. Premier’s US$2.7 billion of debt and hedging liabilities will be repaid and cancelled via a US$1.232 billion cash payment, plus Chrysaor shares.
Comment
Hess sells Shenzi stake to BHP in US$505m deal
- 05 October 2020
Hess is selling its 28% working interest in the Shenzi field in US Gulf of Mexico to operator BHP.
News Release
Energy transition to be key driver of Australia’s upstream M&A
- 01 October 2020
The energy transition is expected to be a major driver of the future of Australia’s upstream M&A, says Wood Mackenzie.
Comment
Devon seals WPX merger
- 28 September 2020
Speaking after the merger of Devon Energy and WPX Energy was announced this morning, Alex Beeker, principal analyst, corporate upstream, at Wood Mackenzie, said: “Tight oil consolidation has been underway for years, but extreme market volatility has slowed the process considerably. WTI has essentially hovered around US$40/bbl since June, with the stability likely closing the bid-ask spread. “We’ve expected Devon to make a move for some time. With US$1.5 billion in cash on its balance sheet (albeit earmarked for debt reduction), Devon is on a relatively strong financial footing. But Devon has been shrinking fast since its disposal program started in earnest about two years ago. The company’s net production is down 40% since 2018.”
News Release
Indonesia’s straddle between gross split and cost recovery is positive step forward
- 17 September 2020
Introducing a choice between gross split and cost recovery for new licences is a positive step forward for Indonesia's upstream sector, says Wood Mackenzie.
News Release
UK can lead world in net zero energy technologies – but investment is critical
- 16 September 2020
Wood Mackenzie today delivered a comprehensive roadmap for the North Sea’s future to the OGTC, setting out the critical technologies needed to deliver an integrated net zero energy system on the UK Continental Shelf (UKCS), positioning the UK as a world-leader in the move to a low carbon world.
Comment
BP underscores commitment to energy transition
- 04 August 2020
Today’s BP strategy update marked a big step forward, filling in many of the blanks, including detailed guidance to 2030. It leaves stakeholders with a much clearer idea of where BP is headed over the next decade, how it will to get there and what that means for the value proposition.
News Release
India’s new deepwater supply could face pressure from low spot LNG prices
- 21 July 2020
India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.
Comment
Chevron swoops on Noble in US$13bn deal
- 20 July 2020
Chevron is set to buy Noble Energy in a US$13 billion all-stock transaction, including US$5 billion in equity. This is the first large-scale corporate acquisition of this downturn.
Comment
Woodside takes impairment but is a US$80 carbon price the bigger news?
- 15 July 2020
Wood Mackenzie analysts delved deeper into implications of Woodside's announced US$80 carbon price.
Comment
Shell's write-down of Australian assets not a surprise
- 01 July 2020
It’s no surprise to see Shell writing down the value of its assets, in line with the new post-pandemic energy demand outlook. In fact, we’ve revised the value of oil and gas assets in Asia Pacific by US$200 billion as a result of a lower oil price outlook.
Comment
Chevron to sell stake in North West Shelf LNG
- 18 June 2020
Chevron continuing to high-grade its portfolio and putting its 16.7% stake in the NWS up for sale makes a lot of sense.
Comment
BP asset write-down 'is significant for sector'
- 16 June 2020
Speaking after BP announced it was writing down as much as $17.5 billion when it reports its second quarter results, Luke Parker, vice president, corporate analysis, said: “The impairment shouldn’t come as a big surprise, but the implications – near-term and long-term – are significant.”
Comment
Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut
- 06 June 2020
OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.
News Release
US midstream takes hit as Lower 48 E&Ps turn off taps
- 03 June 2020
The oil price crash has hit the US Lower 48 hard. But as exploration and production companies work to mitigate the impact of the crash on their businesses, their strategies are affecting the region’s midstream players.
Comment
Shell 'to be net-zero company by 2050'
- 16 April 2020
Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.
Comment
Collapsing demand sets the terms in the OPEC+ battle for market share
- 09 April 2020
Since OPEC+’s failure to agree on production restraint on 5-6 March, the implications of the Covid-19 pandemic have become far clearer, sparking a crisis in the oil market as prices fell and supply ramped up. The problem for these producers is the scale of the fall in oil demand, especially during April and forecast for Q2 2020. No matter the size of the varying forecasts, they all point to a challenging market that puts pressure on storage space and prices.
News Release
African upstream capex ‘may be slashed by 33%’
- 31 March 2020
Faced with the double whammy of the oil price crash and the coronavirus pandemic, Africa’s upstream sector looks set to slash capital spending by around 33% in 2020. Similar cuts to operating costs are also targeted by producers to stay cash-flow neutral. Unlike the 2015-16 price crash, this time nothing is sacrosanct: some operators will even wield the axe on committed spend, as well as the discretionary expenditure.
News Release
Oil price rout: which supply is most at risk of shut-in?
- 27 March 2020
The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent crude has plunged to less than US$30/bbl. This will have a significant impact on currently producing fields and future supply. How low can the price go before different sources of production become uneconomic? Where are production shut-ins most likely? Can governments influence the result?
News Release
Oil price crash dents timeline of Australia’s second wave of FIDs
- 26 March 2020
Wood Mackenzie’s latest analysis reveals that Australia’s next wave of LNG projects are likely to be delayed.
Comment
Can the North Sea survive the price rout?
- 23 March 2020
The North Sea has weathered several storms in its 50-year existence. But the events of the past few weeks mean the sector is entering uncharted waters. The coronavirus pandemic and collapse in OPEC+ production restraint has seen Brent reach its lowest point since 2003.
Comment
Industry slashes spending as price rout deepens: Can companies cope?
- 19 March 2020
Survival mode has returned to the oil and gas sector as the oil price rout deepens. Corporate financials are in better shape than during the 2014/2015 crash, but room for manoeuvre is limited. Can companies cope with prices this low?
Comment
Companies pass on the US Gulf of Mexico lease sale
- 18 March 2020
Today’s region-wide Gulf of Mexico Lease Sale 254 saw 84 bids received from 22 participating companies, with high bids totalling US$93 million. That amounts to roughly half of the previous lease sale, held in August 2019.
Content
Women in energy
- 23 July 2020
We showcase research and analysis from some of our most accomplished and influential women in energy and natural resources. Meet some of the many outstanding women we're proud to work with – and explore their latest thinking.

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Search results: 1459

All eyes on OPEC meeting as group mulls easing of production restraint

Asia Pacific upstream transactions plunge to lowest this century

Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration

Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor

2-degree pathway could cut upstream gas investments by 65%

2891 related products from the Store that match

Absheron (Deep Water)

Obskiy fields

Five consequences of a Biden administration for US energy

Chrysaor seals North Sea top spot with reverse takeover of Premier Oil

Hess sells Shenzi stake to BHP in US$505m deal

Energy transition to be key driver of Australia’s upstream M&A

Devon seals WPX merger

Indonesia’s straddle between gross split and cost recovery is positive step forward

UK can lead world in net zero energy technologies – but investment is critical

BP underscores commitment to energy transition

India’s new deepwater supply could face pressure from low spot LNG prices

Chevron swoops on Noble in US$13bn deal

Woodside takes impairment but is a US$80 carbon price the bigger news?

Shell's write-down of Australian assets not a surprise

Chevron to sell stake in North West Shelf LNG

BP asset write-down 'is significant for sector'

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

US midstream takes hit as Lower 48 E&Ps turn off taps

Shell 'to be net-zero company by 2050'

Collapsing demand sets the terms in the OPEC+ battle for market share

African upstream capex ‘may be slashed by 33%’

Oil price rout: which supply is most at risk of shut-in?

Oil price crash dents timeline of Australia’s second wave of FIDs

Can the North Sea survive the price rout?

Industry slashes spending as price rout deepens: Can companies cope?

Companies pass on the US Gulf of Mexico lease sale

Women in energy

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