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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.
News Release
Asia Pacific’s oil demand to fall in 2020 but could rise 25% by 2040
- 28 July 2020
According to a new report by Wood Mackenzie, oil products demand in Asia Pacific is expected to fall by 1.8 million barrels per day (b/d) year-on-year in 2020.
Comment
BP sells petrochemicals business to INEOS in US$5bn deal
- 29 June 2020
Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.
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.”
News Release
Power system flexibility key to Europe's net-zero targets
- 03 June 2020
The success of Europe’s transition to net-zero emissions by 2050 will hinge on the flexibility of its power system.
2252 related products from the Store that match
- Asset Report
  Corrib
  - 13 February 2026
  Vermilion Energy operates the offshore Corrib field, which is Ireland's dominant source of gas supply. Corrib is located around 70 kilometres off the northwest coast of Ireland, in water depths of over 350 metres. In 2023, Equinor completed the US$434 million sale of its 36.5% non-operated stake to Vermilion Energy. Vermilion's interest increased from 20.0% to 56.5%. This deal marked the exit of…
- Asset Report
  Norway other fields (sub-commercial) North Sea
  - 13 February 2026
  Data on the fields we currently classify as sub-commercial are available below. Sub-commercial fields contain hydrocarbon volumes that are discovered but are not currently considered commercial due to one or more contingencies. For economically viable contingent resources corresponding to development pending, unclarified or on hold sub-classes in the PRMS framework, we include an assumed…
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News Release
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.
News Release
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.
News Release
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.
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
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?
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?
News Release
Oil price rout may trigger major industry shake-up
- 10 March 2020
As global markets reel in the wake of the oil price crash, Wood Mackenzie’ corporate analysis team believes the price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s.
News Release
OPEC+ ‘no deal’ a blow to the market
- 06 March 2020
The OPEC+ meeting broke up without a deal, what does it mean for the markets?
Comment
French major Total to take 50% stake in Adani solar unit
- 07 February 2020
Speaking after French major Total announced it planned to buy a 50% stake in Indian company Adani Green Energy’s solar unit, Tom Heggarty, principal analyst with Wood Mackenzie’s Energy Transition Practice, said: “Total has been extremely active in the power and renewables M&A market as it seeks to diversify its activities and grow its exposure to the zero-carbon power sector."
News Release
North Sea to remain global hotspot in 2020
- 09 January 2020
It will be a noteworthy year for the North Sea – companies will increase production for the first time since 2017 and the outlook for both exploration and investment is looking healthy. The region will remain a global hotspot for deals as the corporate landscape continues to evolve. Crucially, the North Sea will also see major steps towards decarbonisation.
News Release
Renewable electricity to deliver on Europe’s 2030 climate-energy goals
- 07 November 2019
If European member states deliver their individual National Energy and Climate Plans, renewables will account for around 53% of power supply in 2030. Europe is on track to hit this target, although the performance of individual countries will vary, according to analysis from Wood Mackenzie.
Comment
Total expands partnership with Adani on India's gas market
- 14 October 2019
Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.
Comment
Red-letter day for Norway as Johan Sverdrup comes on stream
- 08 October 2019
First oil from Johan Sverdrup – Norway’s sixth-largest discovery, with reserves of around 2.7 billion barrels – is a red-letter day for the partners and the Norwegian state. The decision to sanction the development was the country's largest final investment decision in more than 30 years.
News Release
Has M&A created value in the North Sea?
- 04 September 2019
Since the turn of the decade, it’s been a frenetic period for M&A in the North Sea. Against a backdrop of oil price volatility and a dramatically changing corporate landscape, activity reached record levels. But have acquisitions created value so far? Wood Mackenzie recently analysed 55 of the largest North Sea deals announced between 2012 and 2018 from today’s vantage point to quantify underlying value creation.
Comment
BP sells Alaska business to Hilcorp in US$5.6bn deal
- 27 August 2019
Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making progress with their divestment campaigns. This will mean long-held assets and territories will be let go. BP made such a deal today with its sale of all US Alaska assets to privately-owned Hilcorp."
Comment
TechnipFMC demerger 'a bold step to reposition for the long-term'
- 27 August 2019
In 2017 Technip and FMC Technologies completed one of the hallmark oilfield service company mergers of the cycle. The business plans to split in the first half of 2020 – but not back into Technip and FMC - rather into ‘upstream’ and ‘mid/downstream’.
Comment
ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio
- 13 August 2019
Commenting on reports that ExxonMobil is preparing to sell its UK North Sea portfolio, Neivan Boroujerdi, principal analyst, North Sea upstream, at Wood Mackenzie, said: “A proposed UK exit was expected. We value the portfolio at around US$2 billion.
News Release
Data consortiums signal the future of oil and gas
- 07 August 2019
Wood Mackenzie believes that discovering new value requires going beyond isolated datasets. The solution lies in data consortiums – cooperative platforms where companies can safely share quality data.
Comment
Petrogas and Hitec Vision snap up Total UK asset package in $635m deal
- 10 July 2019
French Major Total has sold its stakes in 10 UK North Sea fields to Petrogas NEO, a new joint venture between Petrogas and HitecVision, for US$635 million. The asset package includes operated and non-operated assets, which will produce 25,000 barrels of oil equivalent per day (boe/d) this year. The assets hold over 30 million barrels of oil equivalent in remaining reserves.
Comment
ExxonMobil and QP land a giant with Glaucus
- 28 February 2019
ExxonMobil and partner Qatar Petroleum today announced they made a major gas find with the Glaucus-1 well, drilled offshore Cyprus. “Glaucus is a giant,” Robert Morris, senior research analyst, Europe upstream, at global natural resources consultancy Wood Mackenzie, said. He added: “It will be one of the biggest discoveries of the year."
Comment
Spanish renewables targets undermined by political uncertainty
- 20 February 2019
Today, Wednesday 20th February 2019, Spanish Prime Minister Pedro Sanchez presented the country’s climate action plan for 2030 to 2050. Commenting on the announcement, Wood Mackenzie Power & Renewables Senior Research Analyst, Brian Gaylord, said:
Comment
Glengorm ‘largest UK gas find since 2008’
- 29 January 2019
CNOOC Ltd and Total's Glengorm gas discovery, in teh Central North Sea, is the largest gas find in UK waters since Culzean in 2008
Comment
Medco Energi's potential takeover of UK-listed Ophir Energy
- 02 January 2019
On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released, other than Medco has to make a clear binding offer by the 28th of January if a deal is to proceed. Ophir's upstream portfolio includes assets in Thailand, Vietnam, Indonesia, Malaysia, Equatorial Guinea and Tanzania. It also has exploration acreage in Mexico and Bangladesh.

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Search results: 591

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

Asia Pacific’s oil demand to fall in 2020 but could rise 25% by 2040

BP sells petrochemicals business to INEOS in US$5bn deal

BP asset write-down 'is significant for sector'

Power system flexibility key to Europe's net-zero targets

2252 related products from the Store that match

Corrib

Norway other fields (sub-commercial) North Sea

Global LNG demand faces first seasonal contraction in 8 years

UK gas market faces Covid-19 deadlock

Ukraine may hold key to Europe’s gas storage crunch

Shell 'to be net-zero company by 2050'

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

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

Can the North Sea survive the price rout?

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

Oil price rout may trigger major industry shake-up

OPEC+ ‘no deal’ a blow to the market

French major Total to take 50% stake in Adani solar unit

North Sea to remain global hotspot in 2020

Renewable electricity to deliver on Europe’s 2030 climate-energy goals

Total expands partnership with Adani on India's gas market

Red-letter day for Norway as Johan Sverdrup comes on stream

Has M&A created value in the North Sea?

BP sells Alaska business to Hilcorp in US$5.6bn deal

TechnipFMC demerger 'a bold step to reposition for the long-term'

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

Data consortiums signal the future of oil and gas

Petrogas and Hitec Vision snap up Total UK asset package in $635m deal

ExxonMobil and QP land a giant with Glaucus

Spanish renewables targets undermined by political uncertainty

Glengorm ‘largest UK gas find since 2008’

Medco Energi's potential takeover of UK-listed Ophir Energy

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