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.

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.

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.

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.

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.

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.

Argentina weighs new price subsidy, but freezes gas tariffs

• 25 June 2020

Gas pricing and market regulation are again under discussion in Argentina. The coronavirus pandemic has weakened an already vulnerable economy, with the impact felt in the gas market. To maintain low gas prices for end-users, the new administration has imposed a tariff freeze until the end of 2020.

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.

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.”

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.

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.

Global LNG demand faces first seasonal contraction in 8 years

• 02 June 2020

The global liquefied natural gas (LNG) industry is about to face its first seasonal demand contraction since 2012, with demand in summer 2020 expected to fall 2.7% or 3 million tonnes (Mt) year-on-year, says Wood Mackenzie.

UK gas market faces Covid-19 deadlock

• 21 May 2020

The UK gas balance has reached a deadlock for the summer. Resilient UK production, Norwegian imports and baseload LNG imports are overwhelming the market with supply. And with lockdown placing huge pressure on electricity and fuel markets, demand will be weak throughout the summer.

Ukraine may hold key to Europe’s gas storage crunch

• 16 April 2020

European gas storage is almost full to the brim – and with the mild weather, coronavirus lockdowns hitting demand and an over-supplied market, levels are not likely to drop soon. New analysis from natural resources consultancy Wood Mackenzie suggests October may prove critical for the market – and highlights a potential solution to the storage crunch.

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.

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.

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.

India’s 21-day lockdown – Impact on commodities?

• 30 March 2020

India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.

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?

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.

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.

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?

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.

North America Power Service

Dedicated regional coverage, long-term fundamental forecasts, short-term base case forecasts, assumptions and projections, and long-term topical scenario analyses. Regions covered include: ERCOT, Midwest, Northeast, Southeast and WECC.

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.

2020: Navigating upstream’s perfect storm

• 10 December 2020

Between the existential crisis of the energy transition and the impact of a global pandemic, it's been a challenging year for upstream oil and gas industry.

US shale gas is back: new demand signals underpin upstream opportunity

• 09 October 2025

Which companies and areas are best positioned to capitalise on a structural shift in US gas demand?

Oil

• 16 November 2020

Stay ahead of the oil market with our real-time, proprietary data collected by patented monitoring technology.

Can Colombia navigate the energy transition?

• 14 November 2023

Can Colombia address social inequalities and drive growth while embracing the energy transition?

What does the oil price crash mean for you?

• 01 April 2020

How much do we think investment is going to fall this year, why is it different to the last price crash, and where are the costs most likely to be cut? Our team of global upstream experts tackles the industry’s burning questions in this 35-minute webinar.