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News Release
After hitting new highs in 2023, US lower 48 oil production growth will begin to slow considerably in 2024 and beyond
- 22 二月 2024
US Lower 48 oil production growth exceeded expectations in 2023, adding 900,000 barrels per day (b/d) despite inflationary pressures, private consolidation, and declining rig activity. However, the repercussions of these decisions will impact supply moving forward as the region is poised for much lower growth in 2024 and beyond, according to Wood Mackenzie.
News Release
Norway to earn over US$200 billion from oil and gas sector in 2023
- 16 一月 2023
Norway’s oil and gas operations in the North Sea will continue to churn out cash as the Scandinavian country maintains high production to help support Europe’s energy crisis according to a report by Wood Mackenzie.
News Release
FLNG sector thriving amid projects boom
- 31 八月 2023
The right economic and geo-political conditions mean that the outlook for the global floating liquified natural gas (FLNG) project sector is bullish according to a new report by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
News Release
Market searches for new Henry Hub ceiling price as supply/demand response remains unusually muted
- 22 四月 2022
The recent run up in natural gas prices - hitting its highest at Henry Hub since 2008 - is a result of more muted market balancing mechanisms than in the past, say analysts from Wood Mackenzie, a Verisk business (Nasdaq: VRSK).
News Release
Upstream sector on the rebound – but ‘peak uncertainty’ fears weigh in 2022
- 13 十二月 2021
The oil and gas sector will continue to rebound in 2022, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK) But the positive outlook will be tempered by concerns about its future. In its Global Upstream Outlook 2022, Wood Mackenzie points out the upstream industry must respond to the implications of the pledges made at COP26 and governments must set a course for the industry to follow.
Comment
Upstream oil and gas: record cash flows and peak uncertainty
- 08 十月 2021
Wood Mackenzie’s Global Energy Summit Upstream Focus Day has addressed some of the biggest issues facing the industry.
Comment
What would an EU carbon border adjustment mechanism mean?
- 14 七月 2021
The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”
News Release
Producing green LNG is key for Australia to remain competitive
- 17 六月 2021
Australian producers need to be at the forefront of green LNG to remain competitive, says Wood Mackenzie.
Comment
Australia releases Budget 2021
- 12 五月 2021
Wood Mackenzie experts comment on the recently announced Australia Budget 2021.
Comment
All eyes on OPEC meeting as group mulls easing of production restraint
- 01 十二月 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.
Comment
Chrysaor seals North Sea top spot with reverse takeover of Premier Oil
- 06 十月 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.
News Release
US midstream takes hit as Lower 48 E&Ps turn off taps
- 03 六月 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 四月 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.
News Release
Oil price rout: which supply is most at risk of shut-in?
- 27 三月 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
Companies pass on the US Gulf of Mexico lease sale
- 18 三月 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.
Comment
Deeper OPEC+ supply cuts sends supportive signal to markets
- 06 十二月 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
JCC-indexed LNG contracts could lose US$15 billion value post IMO 2020
- 21 十一月 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
Brazil’s PSC Round 6 disappoints as Petrobras lodges sole bid
- 07 十一月 2019
Speaking after this morning’s PSC round, Juliana Miguez, from Wood Mackenzie’s Latin America upstream team, said: “Petrobras has returned to the headlines. One day after it dominated the Transfer of Rights Surplus round, the NOC placed the only bid of today’s auction."
Comment
ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio
- 13 八月 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.
Comment
Jethro-1 delivers the goods for Tullow
- 13 八月 2019
The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than 100 million barrels of recoverable oil, subject to appraisal.
News Release
WoodMac and P2 Energy Solutions join forces to deliver data-driven insight to US energy sector
- 15 七月 2019
Wood Mackenzie, the global natural resources research consultancy, announces today its partnership with P2 Energy Solutions to better analyse current and future well spacing.
News Release
Dominican Republic launches first licensing round
- 10 七月 2019
The Dominican Republic today launched its first licensing round, putting 14 blocks across its on- and offshore basins up for bid.
Comment
Petrogas and Hitec Vision snap up Total UK asset package in $635m deal
- 10 七月 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.
News Release
New pipeline needed to meet surge in demand for Permian crude
- 08 七月 2019
Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 barrels per day (b/d) by the end of next decade, according to new research from global natural resources consultancy Wood Mackenzie.
News Release
OPEC+ aims for balance as it rolls over output curbs
- 02 七月 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."
News Release
Comstock takes Haynesville lead with US$2.2bn Covey Park deal
- 11 六月 2019
Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held producer Covey Park.
News Release
Montney total production to increase by 16% in 2019
- 16 五月 2019
Total production in Canada's Montney play will likely reach 10 billion cubic feet equivalent per day (bcfe/d) in 2019, an increase of 16% from 2018, according to new research from Wood Mackenzie.
Comment
BP’s US$6bn Azeri Central East project gets the nod
- 19 四月 2019
BP and partners have taken a final investment decision (FID) on the Azeri Central East (ACE) platform, the latest phase at Azerbaijan's super-giant Azeri-Chirag-Guneshli (ACG) oilfield. The US$6 billion project will be one of the biggest upstream FIDs of the year.
News Release
Brulpadda delivers the goods for Total
- 07 二月 2019
French major Total and its partners, Qatar Petroleum, Canadian Natural Resources, and Main Street, have made a potentially play-opening discovery with the Brulpadda-1 well, in South Africa’s deepwater Outeniqua basin, about 180 kilometres south-east of PetroSA's Mossel Bay gas-to-liquids plant.
News Release
Big Data adds up to big savings for upstream players
- 12 十一月 2018
The upstream sector could save as much as US$75 billion annually thanks to digitalisation and Big Data. In its new report, Digitalisation in upstream: Show me the money, global natural resources consultancy Wood Mackenzie dug into the numbers to see exactly what Big Data could do for Big Oil – and smaller players too.

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