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Saudi Aramco’s shift to abandon its 13 million b/d capacity target likely to be absorbed by the market

01 February 2024

Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in 2030, the shift to a 12 million b/d target from 13 million b/d should be absorbed in the market and not cause a tightening in the supply and demand balance this decade.”

News Release

A delayed energy transition could make or break the upstream sector

16 January 2025

As the risk of a delayed energy transition scenario increases, so does the possibility of a much greater pull on future oil & gas supply. But meeting this demand would require a significant increase in upstream investment, resulting in higher hydrocarbon prices and significant shifts in corporate strategy, according to the latest Horizons report from Wood Mackenzie.

News Release

High-impact oil and gas exploration could cut global scope 1 and 2 emissions by 6% in 2030

21 November 2024

Investment in oil and gas exploration has plummeted two-thirds in the last decade, but the industry still has a critical role to play in decarbonisation efforts and providing advantaged barrels in the energy transition, according to the latest Horizons report from Wood Mackenzie.

News Release

CCUS growth challenged by current economics

10 October 2024

Speaking at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference in Houston, Peter Findlay, research director and head of CCUS economics for Wood Mackenzie, said that despite a growing market for carbon capture, utilisation and storage (CCUS), economics remain challenging, and many potential projects are at risk.

News Release

The North Sea’s oil and gas future hangs in the balance and requires a new fiscal regime

03 October 2024

After a history of ad hoc changes, the UK government must implement a more predictable tax regime that provides greater long-term stability to the North Sea oil and gas sector, as soon as possible, according to new analysis by Wood Mackenzie.

News Release

CO2 utilisation potential as key global decarbonization tool limited by current economics

26 August 2024

Carbon Capture Utilisation and Storage (CCUS) is a crucial element in global decarbonisation, but current economics limit CO2 utilisation deployment as high costs and insufficient subsidies hinder the market, according to a recent report from Wood Mackenzie.

News Release

20K technology to unlock more than 2 billion barrels of oil equivalent in resources in the US Gulf of Mexico

12 August 2024

Chevron announced first oil at the Anchor field in the US Gulf of Mexico deepwater, unlocking the potential for a considerable amount of new production.

News Release

Lower 48 well costs expected to decline 10% in 2024

29 July 2024

After peaking in 2023, Lower 48 well costs are expected to decline 10% in 2024 and 1% in 2025, according to a recent report from Wood Mackenzie.

News Release

National Oil Company international M&A spend hits 20-year low

17 July 2024

While the mergers and acquisitions market has been recently supercharged by international oil companies (IOCs), national oil companies (NOCs) have sat on the sidelines, with international spending down significantly from highs a decade ago, according to recent analysis from Wood Mackenzie.

News Release

Global CCUS investment requires US$ 196B through 2034, according to Wood Mackenzie

26 June 2024

By 2034, global carbon capture capacity will reach 440 Mtpa and storage capacity will reach 664 Mtpa, requiring US$ 196 billion in total investment, according to a recent report from Wood Mackenzie.

News Release

Noble grabs first mover advantage as offshore rig market consolidation begins, says Wood Mackenzie

12 June 2024

Addressing Noble Corp’s acquisition of Diamond Offshore in a US$600 million stock plus cash transaction, Leslie Cook, principal analyst of upstream supply chain for Wood Mackenzie said, “We have been predicting offshore rig market consolidation for some time and with little appetite from owners to add new rigs as rig demand is flattening out, we believed growth would be inorganic. It therefore comes as little surprise that the first major deal in the upstream service sector has been announced. Noble has grabbed first mover advantage, and solidified is status in the top two offshore rig contractors.”

News Release

Eni named most-admired upstream explorer in Wood Mackenzie’s16th annual Exploration Survey

29 May 2024

Italian major Eni has been named the upstream industry’s most-admired explorer in Wood Mackenzie’s industry-leading annual Exploration Survey.

News Release

Approved Enauta and 3R Petroleum merger creates operation that could surpass 100,000 boe/d production

21 May 2024

Addressing the approved merger of 3R Petroleum and Enauta, Amanda Bandeira, Upstream Research Analyst, said “The combination of businesses between Enauta and 3R Petroleum creates a new operation that could surpass the 100,000 boe/d production mark, competing head-to-head against Prio, currently the larger Brazilian independent operator in the country.

News Release

Upstream scope 1 & 2 emissions intensity down 12% since 2017, but more work is needed on absolute emissions

06 March 2024

Scope 1 and 2 upstream emissions intensity has declined 12% since 2017, however, absolute emissions could plateau due to production growth, according to a new report from Wood Mackenzie.

News Release

After hitting new highs in 2023, US lower 48 oil production growth will begin to slow considerably in 2024 and beyond

22 February 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

Diamondback Energy and Endeavor Energy merger creates the largest pure play company in the Permian, according to Wood Mackenzie

14 February 2024

Addressing Diamondback Energy, Inc. and Endeavor Energy Resources L.P.’s US$26 billion merger transaction, Alex Beeker, research director, corporate research for Wood Mackenzie said, “This deal creates the largest Permian pure play company, and it will trail just ExxonMobil and Chevron in terms of total Permian production.”

News Release

US energy dominance faces long-term challenges

17 April 2025

While the United States currently dominates global oil and gas production, it faces significant challenges to maintaining the same level of leadership in the coming decades, according to the latest Horizons report from Wood Mackenzie.

News Release

Industry leaders to speak at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference 2025

23 July 2025

Now in its third year, Wood Mackenzie's Carbon Capture, Utilization and Storage Conference 2025 will bring together expert analysts and industry leaders in Houston, October 8-9.

News Release

Daenerys discovery a game-changer for Talos in GoA

25 August 2025

Addressing Talos Energy’s announced discovery at the Daenerys prospect in the Walker Ridge protraction area of the deepwater Gulf of America/Mexico (GoA), said Miles Sasser, senior research analyst, upstream for Wood Mackenzie said, “For Talos, the discovery is a game-changer. The company's GoA portfolio was ageing, but Daenerys could add more than 50 millions of barrels of oil equivalent (mmboe) net proved reserves. That would increase its YE2024 proved reserves of 194 mmboe more than 25%.

News Release

Big Beautiful Gulf 1 lease sale shows "targeted" approach in new leasing era

11 December 2025

The US Bureau of Ocean Energy Management (BOEM) concluded the Big Beautiful Gulf 1 (BBG1) on December 10, 2025. The sale attracted just over $300 million in bids, with the number of bids down 37.8% compared to the most recent lease sale 261.

News Release

Middle East oil and gas recovery faces months-long process despite ceasefire

08 April 2026

The 11 million b/d of upstream production currently shut-in across the Middle East can only be restored when export logistics normalise.

News Release

Southeast Asia’s new wave of deepwater gas projects

04 May 2026

Southeast Asia is entering a critical second wave of deepwater gas development targeting 28 trillion cubic feet of resources across Indonesia, Malaysia and Brunei. However, delivering these projects won’t be easy. Our models suggest these projects have fragile economics, with many delivering less than 15% internal rates of return (IRR). As a result, operators face narrow margins for execution error as they race to deliver over US$20 billion of new infrastructure and supply by 2030, according to Wood Mackenzie estimates.

News Release

With 100-200 GW of new data centre capacity needed by 2030, carbon capture on gas offers fastest route to decarbonisation

14 May 2026

With natural gas dominating near-term data centre power additions, carbon capture offers the most practical path to decarbonization, according to new Wood Mackenzie analysis.

News Release

Australia’s Domestic Supply Obligation framework risks compounding investment uncertainty, says Wood Mackenzie

04 June 2026

The Australian government’s proposed Domestic Supply Obligation (DSO) framework risks increasing, rather than reducing, investment uncertainty at a critical time for the nation’s energy sector.

Editorial

Satellite tracking, remote sensing: how we monitor the LNG market

13 October 2022

Thousands of satellites are currently on various orbits around the Earth. Space agencies around the world have initiated hundreds of programmes over the last decades. Private companies have entered the market more recently in a big way. So, how is satellite monitoring used? And how can it be leveraged to deliver unique intelligence into the global LNG market?

Editorial

How to tackle the Permian's water woes

23 July 2019

Water management is quickly becoming one of the most significant risks to Permian tight oil growth. With water infrastructure nearing peak capacity, how can producers cap costs and minimise operational risks?

Opinion

A tantalising year for North Sea exploration

06 June 2019

As we near the mid-point of 2019, we focus on three exciting North Sea exploration areas to discover how the industry is continuing the upward global trend.

Editorial

Brazil 2019 exploration bid rounds: mitigating sky-high bonuses

06 June 2019

After three highly competitive exploration bid rounds in Brazil in 2018, momentum is building for a three-round licensing bonanza that starts later this year.

Editorial

North America gas: could LNG project delays dampen prices further?

28 May 2019

Low prices may be the best cure for North American gas markets.

Editorial

Permian M&A: place your bets on the next takeover target

21 May 2019

More mergers are coming.

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Search results: 1377

Saudi Aramco’s shift to abandon its 13 million b/d capacity target likely to be absorbed by the market

A delayed energy transition could make or break the upstream sector

High-impact oil and gas exploration could cut global scope 1 and 2 emissions by 6% in 2030

CCUS growth challenged by current economics

The North Sea’s oil and gas future hangs in the balance and requires a new fiscal regime

CO2 utilisation potential as key global decarbonization tool limited by current economics

20K technology to unlock more than 2 billion barrels of oil equivalent in resources in the US Gulf of Mexico

Lower 48 well costs expected to decline 10% in 2024

National Oil Company international M&A spend hits 20-year low

Global CCUS investment requires US$ 196B through 2034, according to Wood Mackenzie

Noble grabs first mover advantage as offshore rig market consolidation begins, says Wood Mackenzie

Eni named most-admired upstream explorer in Wood Mackenzie’s16th annual Exploration Survey

Approved Enauta and 3R Petroleum merger creates operation that could surpass 100,000 boe/d production

Upstream scope 1 & 2 emissions intensity down 12% since 2017, but more work is needed on absolute emissions

After hitting new highs in 2023, US lower 48 oil production growth will begin to slow considerably in 2024 and beyond

Diamondback Energy and Endeavor Energy merger creates the largest pure play company in the Permian, according to Wood Mackenzie

US energy dominance faces long-term challenges

Industry leaders to speak at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference 2025

Daenerys discovery a game-changer for Talos in GoA

Big Beautiful Gulf 1 lease sale shows "targeted" approach in new leasing era

Middle East oil and gas recovery faces months-long process despite ceasefire

Southeast Asia’s new wave of deepwater gas projects

With 100-200 GW of new data centre capacity needed by 2030, carbon capture on gas offers fastest route to decarbonisation

Australia’s Domestic Supply Obligation framework risks compounding investment uncertainty, says Wood Mackenzie

Satellite tracking, remote sensing: how we monitor the LNG market

How to tackle the Permian's water woes

A tantalising year for North Sea exploration

Brazil 2019 exploration bid rounds: mitigating sky-high bonuses

North America gas: could LNG project delays dampen prices further?

Permian M&A: place your bets on the next takeover target

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