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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.

News Release

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.

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

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.

Comment

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.

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

China’s demand drops for first time since 2009 as coronavirus hits oil markets

04 February 2020

The near-term impact of the coronavirus outbreak on oil demand remains uncertain as much depends upon when and how China’s manufacturing industry restarts after the currently extended Lunar New Year public holiday.

Comment

US and China sign Phase One trade deal

16 January 2020

Wood Mackenzie's Gavin Thompson provides a commentary on the US-China Phase One trade deal

News Release

Asia Pacific gas and LNG - 6 themes to watch in 2020

13 January 2020

Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020.

Comment

Deeper OPEC+ supply cuts sends supportive signal to markets

06 December 2019

After a marathon meeting, running late into the night of 5 December, the OPEC+ group has agreed to continue its current production restraint of 1.2 million barrels per day (b/d), and will add a further 0.5 million b/d of supply cuts through to March 2020.

News Release

OPEC+ set to make its choice

05 December 2019

OPEC+ gathers today and tomorrow to decide if the group should roll over its production restraint agreement or consider deeper cuts. The current agreement to reduce output by 1.2 million b/d runs to end March 2020. Ann-Louise Hittle, vice president, Macro Oils, said: “The idea of deeper cuts has been broached, but we consider that less likely to reach full agreement than a rollover of the standing agreement. The need for production restraint is clear. Slower US production growth is not enough to offset the ongoing imbalance between global supply and demand.”

News Release

JCC-indexed LNG contracts could lose US$15 billion value post IMO 2020

21 November 2019

Wood Mackenzie’s latest report reveals that LNG sellers with contracts linked to JCC (Japan Crude Cocktail) could lose some US$15 billion in unearned revenues. This is a result of the IMO 2020 regulation limiting sulphur content of marine fuels to up to 0.5%, which directly affects the price of sour crudes such as those composing the JCC mix. The IMO 2020 kicks in on 1st January 2020.

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

Santos to acquire ConocoPhillips northern Australian assets

14 October 2019

Santos announced today its plans to acquire ConocoPhillips’s northern Australian portfolio. This is a logical and attractive transaction for a number of reasons.

News Release

OPEC+ aims for balance as it rolls over output curbs

02 July 2019

Speaking as the OPEC and OPEC+ meetings ended in Vienna today, Ann-Louise Hittle, vice president, Macro Oils, at global natural resources consultancy Wood Mackenzie, said: “The agreement to roll over production restraint was a foregone conclusion after the green light from Russia’s president, Vladimir Putin, at the G20 meeting for continued production restraint."

Comment

IMO 2020 – what does it mean for downstream, upstream, LNG and bulks sectors?

07 May 2019

Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.

Comment

India commissions first east coast LNG terminal

07 March 2019

India's first east coast regas project, Ennore LNG terminal, was commissioned yesterday by Indian Oil Corporation (IOCL). Wood Mackenzie's senior analyst Kaushik Chatterjee shares the significance of this project and how this marks the beginning of India doubling its regas capacity to 56.5 million metric tonnes per annum (mmtpa) by 2025.

News Release

Outlook sluggish for upstream M&A

21 January 2019

Upstream dealmakers start 2019 facing an uphill battle. Volatile oil prices and bearish equity markets impede deal flow by creating uncertainty, widening the bid-ask spread, altering financial conditions and making companies re-think near-term strategies. In Q4 2018, as these factors emerged, deal count dropped to its lowest level since Q1 2015, with December the slowest month since January 2015.

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.

News Release

Major LNG buyers' uncontracted demand to quadruple by 2030

13 December 2018

Wood Mackenzie's latest research reveals that uncontracted demand by the world's seven largest LNG buyers could quadruple to 80 million tonnes per annum (mmtpa) by 2030.

Comment

OPEC and Russia agree output deal

07 December 2018

OPEC and its allies agreed a 1.2 million barrel per day cut after two days of tense meetings in Vienna.

News Release

Australian gas shortages loom as LNG exporters and domestic consumers compete for supply

11 September 2018

The pace and scale of transformation in the east Australian gas market over the past five years has put gas – both its availability and its pricing – firmly on the country’s political agenda. Global natural resources consultancy Wood Mackenzie today releases its Australia East Coast Gas Market Outlook 2018-2032. The report offers a comprehensive overview of the dynamics shaping the gas market, including the drivers of domestic gas demand, how gas flows will change and price dynamics.

News Release

OPEC+ deal balances consumer pressure with need for stable prices

23 June 2018

The OPEC+ meeting, held in Vienna on 23 June 2018, confirmed Saudi Arabia and Russia’s high-level commitment to co-operate to manage the oil market.

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Search results: 1054

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

Argentina weighs new price subsidy, but freezes gas tariffs

BP asset write-down 'is significant for sector'

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

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

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

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

China’s demand drops for first time since 2009 as coronavirus hits oil markets

US and China sign Phase One trade deal

Asia Pacific gas and LNG - 6 themes to watch in 2020

Deeper OPEC+ supply cuts sends supportive signal to markets

OPEC+ set to make its choice

JCC-indexed LNG contracts could lose US$15 billion value post IMO 2020

Total expands partnership with Adani on India's gas market

Santos to acquire ConocoPhillips northern Australian assets

OPEC+ aims for balance as it rolls over output curbs

IMO 2020 – what does it mean for downstream, upstream, LNG and bulks sectors?

India commissions first east coast LNG terminal

Outlook sluggish for upstream M&A

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

Major LNG buyers' uncontracted demand to quadruple by 2030

OPEC and Russia agree output deal

Australian gas shortages loom as LNG exporters and domestic consumers compete for supply

OPEC+ deal balances consumer pressure with need for stable prices

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