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Turkey nets largest-ever find with Tuna-1 gas discovery
- 21 八月 2020
A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural gas imports has also continued to grow.
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Shell's US$22bn write down 'signals fundamental change'
- 30 六月 2020
Royal Dutch Shell said on 20 June it would write off assets worth up to $22 billion on the back of weakening oil and gas demand due to the coronavirus pandemic and a weaker energy price outlook.
Comment
Arrow Energy sanctions Surat Gas Project
- 17 四月 2020
Arrow Energy sanctions Surat Gas Project
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US$210bn of new spend in firing line as players target cost cuts
- 02 四月 2020
The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.
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Talos shells out US$640m for Gulf of Mexico assets
- 12 十二月 2019
Talos Energy, in its pursuit of growth in the US Gulf of Mexico, has announced a series of purchases, worth $640 million assets in the region
Comment
Japan to invest additional $10 billion in global LNG infrastructure projects
- 26 九月 2019
Japan is planning to invest an additional $10 billion to develop infrastructure mainly in new and developing markets in the India sub continent and Southeast Asia, reflecting a shift in priorities.
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US sanctions increase pressure on Venezuela
- 30 一月 2019
The US is poised to impose fresh sanctions on Venezuela, ratcheting up the stakes in the country's political crisis by curbing the Maduro government's access to cash from crude exports.
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Rosebank deal 'cements Equinor's commitment to the UK'
- 01 十月 2018
Norway's Equinor set to buy Chevron's 40% operating stake in the Rosebank field, offshore West of Shetland
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Transocean’s $2.7bn Ocean Rig deal ‘a winner’
- 03 九月 2018
Rig provider Transocean is set to merge with Ocean Rig in a $2.7 billion deal, a move Wood Mackenzie says is a winning one for the rig market.
Comment
More oil discovered in Carnavon Petroleum's Dorado-1 well
- 08 八月 2018
A sizeable discovery is significant for Quadrant, whose private equity backers are looking to exit, and Carnarvon, which is a pure-play explorer. A standalone oil discovery is easier to monetise than gas, as it does not require LNG contracts or gas infrastructure.
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.
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
TechnipFMC demerger 'a bold step to reposition for the long-term'
- 27 八月 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’.
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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.
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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.
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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.
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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.
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Total hits the jackpot at Glendronach
- 24 九月 2018
Total has made a major gas discovery in the UK's West of Shetland region, hitting an estimated 1 trillion cubic feet of gas
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BP seals asset swap with ConocoPhillips
- 04 七月 2018
BP agrees to increase its stake in the Clair field, offshore West of Shetland, and divest its interest in Greater Kuparuk, in Alaska, via an asset swap with ConocoPhillips
Comment
Mexico's new president: Energy future at a crossroads
- 02 七月 2018
After a contentious campaign, Andrés Manuel López Obrador has won the presidency. Now, the energy industry is trying to determine the incoming administration’s strategic priorities and the implications for Mexico’s energy reforms and its upstream, downstream, gas and power markets.
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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.
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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.”
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Australia releases Budget 2021
- 12 五月 2021
Wood Mackenzie experts comment on the recently announced Australia Budget 2021.
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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.
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.
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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.
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Woodside sanctions US$12 billion Scarborough and Pluto Train 2 project
- 22 十一月 2021
Woodside has sanctioned the US$12 billion Scarborough and Pluto Train 2 project. This is a big step for Woodside, Western Australia and the local LNG industry.
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Wood Mackenzie weighs in on COP26 key takeaways
- 15 十一月 2021
Following the conclusion of the COP26 on November 13, Wood Mackenzie experts weigh in on the key developments of the conference.
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UK gas output slump helps fuel price rally
- 08 九月 2021
UK gas production is down 28% year-to-date, helping fuel the current European gas price rally, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said.

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