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Africa and the Middle East's coal imports growth continues

16 July 2018

Who are the emerging coal buyers in Africa and the Middle East? What are the common themes between different nations and will burgeoning power projects get lift off? We see first wave importers Turkey and Morocco increasing, allowing for emergent Egypt to establish itself as a key import centre. Sub Sahara Africa and the UAE show promise too, although new projects are not without their risks.

Company Report

BP oil and gas exploration summary

16 July 2018

BP was well-placed financially to enter the recent down-cycle having successfully delivered on a three-year, 10-point plan that simplified and re-shaped its portfolio. The oil price fall provided fresh impetus in its drive to re-engineer its portfolio, and the company adapted to a 'lower for longer' price environment. BP has done a number of deals to secure long-term production allowing it the ...

Insight

LNG market evolution in Asia – where next?

16 July 2018

This presentation was given at Wood Mackenzie's Asian Gas Forums in Tokyo, Shenzhen and Singapore from July 4th to 12th. It includes our H1 2018 forecasts for Asian LNG demand. There are four key themes in our H1 2018 Asian demand outlook. Firstly, initiatives to curb pollution have fundamentally improved the outlook for gas demand in China, Taiwan and South Korea. Secondly, renewable power wil...

Insight

MENA upstream in brief

16 July 2018

The MENA upstream in brief provides Wood Mackenzie's expert opinion and analysis of the key events impacting the upstream industry in the Middle East and North Africa. We draw upon our upstream database and data tools to help deepen our clients' understanding of the region. The report primarily focuses on exploration and appraisal drilling, project developments, production, licensing, fiscal an...

Insight

Corporate week in brief: Diversified Independents step up the momentum on shareholder distributions

16 July 2018

Anadarko and ConocoPhillips have upsized their respective share buyback programs, while doubling down on debt reduction targets. Read more on this and the following stories: Brent falls on fears of trade tensions and increasing Libyan supply. Mid-year lookback: how did the sector perform against our predictions? Total considers US$1.5bn asset sale in the North Sea. Energy Transition: NOCs are j...

Asset Report

South Disouq

16 July 2018

The South Disouq block is located onshore in the Nile Delta around sixty-five kilometres north of Cairo. South Disouq was offered under the 2012 EGAS Bid Round and subsequently awarded to SDX Energy. US-based IPR farmed in for a 45% stake in 2014. The lease is within the Abu Madi- Baltim trend.The operator has a commercial exploration success rate of 75% to date. Based on these discoveries and ...

Commodity Market Report

South Africa energy markets long-term outlook 2018: are renewables the rising star?

13 July 2018

In South Africa, renewables and gas-fired generation capacity will disrupt coals historic position in power generation. The key question is: how quickly will this change happen?

Commodity Market Report

North America coal long-term outlook H1 2018: A rough road ahead

13 July 2018

Coal demand is much more volatile than in previous years and the rally in coal demand that started in 2017 has faltered in the face of weak domestic fundamentals. Despite the weak demand from EGUs, offset partially by elevated exports, strong prices indicate a market with a more balanced supply and demand situation than has been the case for the last several years. Over the long term, the assum...

Commodity Market Report

Qatar energy markets long-term outlook 2018

13 July 2018

Qatar's energy landscape is largely dominated by exports. Domestic demand for gas (for power and industries) only adds up to 11% of total gas production. Liquefied Natural Gas (LNG) production accounts for the largest share of export revenues and investments in the sector will continue. The moratorium on the North Field was lifted in 2017 and a new upstream phase will boost LNG production by 30...

Commodity Market Report

Vietnam gas markets: 2018 long-term regional outlook

13 July 2018

Key report themes Ca Voi Xanh field is approaching FEED, Block B&52 in talks with JBIC on funding Ongoing maritime tensions threaten pipeline of future upstream projects Power offtakers secured for Thi Vai and Son My regas New gas-fired power to drive demand in medium term Vietnam seeking international partners to develop gas sector

Country Report

Alaska upstream summary slides

13 July 2018

We provide a slide-pack of the key issues in the country to complement our more detailed upstream summary. Please refer to the main upstream summary for a detailed description of reserves, production, infrastructure and fiscal terms for oil and gas.

Country Report

Norway upstream fiscal summary

13 July 2018

Upstream licences in Norway are awarded during regular licensing rounds. Fiscal terms are fixed. Norway has a profit-based fiscal system. Corporate Income Tax (23%) and Special Tax (55%) payments are not deductible against either tax base, hence the total marginal tax rate is 78%. Norway is renowned for its tax stability. There are several tax incentives. Cash refunds for exploration drilling a...

Country Report

Netherlands upstream fiscal summary

13 July 2018

The Netherlands is a mature oil and gas producer. All new licences operate under the 2003 Mining Act. The country pursues an 'Open Door' licensing policy with no dedicated licensing rounds. Fiscal terms are fixed. The current regime includes an onshore royalty (0-7% for licences with state equity, 0-14% otherwise), a 25% corporate income tax (CIT) and a 50% state profit share (SPS, an additiona...

Asset Report

Westmoreland coal mines

13 July 2018

In addition to the seven surface mines it operates in the US, Westmoreland Coal Company controls seven thermal coal producing surface mines in Canada. Westmoreland runs three mine-mouth operations in both Saskatchewan and Alberta and these six mines sell primarily to power plants under long-term cost-protected contracts. In addition, Westmoreland operates one thermal coal exporting mine in Albe...

Insight

Upstream supply chain in brief

13 July 2018

The upstream supply chain in brief provides critical insight on the latest market news and trends within the offshore oil and gas market. Within this offering, Wood Mackenzie's team of dedicated supply chain experts are uniquely positioned to add value to our clients by translating market event drivers into possible implications for the global supply chain. Insight around market events is drive...

Inform

China tightens marine fuel regulations ahead of IMO's 2020 sulphur cap

13 July 2018

On 9 July 2018, the Chinese government released new marine fuel regulations extending the coverage of emission control areas and tightening specifications. This demonstrates the strong commitment by the government to fight pollution from mobile sources, while also ensuring China’s compliance with the IMO’s global sulphur cap due to begin in 2020. In this Inform, we look at how the new regulatio...

Insight

Can Sub-Saharan Africa compete with the US upstream investment boom?

12 July 2018

Sub-Saharan Africa has seen upstream investment fall by 56% since 2014. Governments have been slow to react and now face stiff global competition for investment dollars. Many of Sub-Saharan Africa's biggest operators have larger, more valuable businesses in the US, which are also benefitting from a 15% cut in income tax. So, might these companies exit the continent to focus on bigger returns st...

Asset Report

Ukrgazvydobuvannya Assets

13 July 2018

Ukrgazvydobuvannya (UGV) is one of the three main producing subsidiaries of Naftogaz Ukrainy, Ukraine's national oil and gas company. The other two subsidiaries are Ukrnafta and Chornomornaftogaz (although its status is uncertain following the annexation of Crimea in 2014). UGV operates over 70% of the country's gas production, making it by far the largest gas producer in Ukraine. Its portfolio...

Asset Report

Al Uqlah (Block S2)

13 July 2018

The Al Uqlah Block (S2) is located in the Marib-Shabwa Basin, central Yemen, to the east of state-owned SAFER E&P's prolific Block 18 producing fields. The contract area originally formed part of the West Shabwa area of central Yemen. The first oil discovery was made in 1992 by Occidental at Kharwah-1. In 1997, Preussag (now OMV) took over the operatorship of the block and in 2003 discovered oi...

Asset Report

Yoyo

13 July 2018

The Yoyo block is located offshore in Cameroon's Douala Basin. The block was previously part of a single licence called Nyong II (also known as PH-77) which split in 2009 to form the Yoyo and Tilapia blocks. The Yoyo discovery was made on the block in 2007 but has not yet been developed.Yoyo is believed to straddle the border with Equatorial Guinea, as it is part of the same structure as the Yo...

Asset Report

Yucal-Placer

13 July 2018

Yucal-Placer is a large dry gas field that is strategically located close to markets in the Caracas area. Development of the field has always been a challenge due to tight reservoirs and relatively high CO2 content.The field was discovered in 1947 and brought onstream in 1950. Between then and 1989, it produced 150 bcf of gas before being shut in to make way for cheaper gas discovered in the An...

Asset Report

Sangomar Deep

13 July 2018

The play-opening SNE field is located on the Sangomar Deep block, 100 kilometres south of Dakar offshore Senegal, in deep water. The field will be a phased subsea FPSO development, involving production and injection wells. The partners are looking at re-deployment of an existing FPSO, which would be leased.The initial focus will be on development of the field's least complex reservoirs - the Lo...

Commodity Market Report

North America gas markets weekly update: Heat wave fails to rally market so far

10 July 2018

48 bcf injection expected Hottest week in last two years East +23 bcf, Midwest +21 bcf, South Central -3 bcf, Pacific +3 bcf, Mountain +4 bcf

Insight

The North American puzzle: where will refiners send surplus gasoline?

12 July 2018

The long term North American refinery economics story mainly focuses on an emerging gasoline surplus. As fuel efficiency gains are forecast to outpace vehicle miles travelled, gasoline demand is forecast to decline. This will force refiners to find a new home for surplus gasoline, shifting long term regional pricing dynamics throughout Canada and the United States. As gasoline flows shift towar...

Insight

Electric Vehicles: a paradigm shift in full gear

12 July 2018

On 11 July 2018, Wood Mackenzie held a webinar on electric vehicles (EVs). EVs present one of the largest uncertainties facing global commodity markets. Rapidly changing EV economics and technological innovations could, and in fact are, disrupting oil, metals, and power markets around the world. Our format was part presentation and part Q&A. In this webinar our experts discussed: - Electric Veh...

Deal Insight

Eni creates new Norwegian company with PE-backed Point Resources

12 July 2018

Eni Norway has merged with Point Resources, creating a combined company to be named Vår Energi. The portfolio of the combined company will include a mixture of producing assets as well as numerous development opportunities. We estimate production will reach 180 kboe/d in 2023 — largely due to the sizeable Johan Castberg oil field. But the Vår partners have even more ambitious plans — hoping to ...

Commodity Market Report

WECC power markets short-term outlook June 2018

09 July 2018

Average daily power demand for the US was about one percent lower versus same time last year for June after tracking very similar for the same time last year for the month of May. However, loads in ERCOT have been recording strong gains this year, and have been approximately 5 GWa higher in May and 4.5 GWa higher in June. Power demand across the ISO has been approximately 8 percent higher for t...

Commodity Market Report

Southeast power markets short-term outlook June 2018

09 July 2018

Average daily power demand for the US was about one percent lower versus same time last year for June after tracking very similar for the same time last year for the month of May. However, loads in ERCOT have been recording strong gains this year, and have been approximately 5 GWa higher in May and 4.5 GWa higher in June. Power demand across the ISO has been approximately 8 percent higher for t...

Commodity Market Report

Northeast power markets short-term outlook June 2018

09 July 2018

Average daily power demand for the US was about one percent lower versus same time last year for June after tracking very similar for the same time last year for the month of May. However, loads in ERCOT have been recording strong gains this year, and have been approximately 5 GWa higher in May and 4.5 GWa higher in June. Power demand across the ISO has been approximately 8 percent higher for t...

Commodity Market Report

Midwest power markets short-term outlook June 2018

09 July 2018

Average daily power demand for the US was about one percent lower versus same time last year for June after tracking very similar for the same time last year for the month of May. However, loads in ERCOT have been recording strong gains this year, and have been approximately 5 GWa higher in May and 4.5 GWa higher in June. Power demand across the ISO has been approximately 8 percent higher for t...

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Search results: 11204

Africa and the Middle East's coal imports growth continues

BP oil and gas exploration summary

LNG market evolution in Asia – where next?

MENA upstream in brief

Corporate week in brief: Diversified Independents step up the momentum on shareholder distributions

South Disouq

South Africa energy markets long-term outlook 2018: are renewables the rising star?

North America coal long-term outlook H1 2018: A rough road ahead

Qatar energy markets long-term outlook 2018

Vietnam gas markets: 2018 long-term regional outlook

Alaska upstream summary slides

Norway upstream fiscal summary

Netherlands upstream fiscal summary

Westmoreland coal mines

Upstream supply chain in brief

China tightens marine fuel regulations ahead of IMO's 2020 sulphur cap

Can Sub-Saharan Africa compete with the US upstream investment boom?

Ukrgazvydobuvannya Assets

Al Uqlah (Block S2)

Yoyo

Yucal-Placer

Sangomar Deep

North America gas markets weekly update: Heat wave fails to rally market so far

The North American puzzle: where will refiners send surplus gasoline?

Electric Vehicles: a paradigm shift in full gear

Eni creates new Norwegian company with PE-backed Point Resources

WECC power markets short-term outlook June 2018

Southeast power markets short-term outlook June 2018

Northeast power markets short-term outlook June 2018

Midwest power markets short-term outlook June 2018