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Chevron exits bidding war for Anadarko

09 May 2019

Chevron Corporation today announced that it would not offer a counterproposal to Occidental Petroleum's rival bid to acquire Anadarko Petroleum.

News Release

What would Australia's Labor win mean for the resources, energy and power sectors?

06 May 2019

Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.

News Release

Southeast Asian upstream M&A could hit US$14 billion

25 April 2019

According to a new report by Wood Mackenzie, Southeast Asia could take centre stage in the region's upstream M&A activity in 2019, with up to US$14 billion worth of assets potentially switching hands.

Comment

Murphy Oil dives into deepwater Gulf of Mexico with US$1.6bn LLOG deal

23 April 2019

Murphy Oil Exploration is poised to buy several deepwater Gulf of Mexico assets from LLOG Exploration for a total of US$1.625 billion, split into a US$1.375 billion cash payment and US$250 million in contingent payments.

Comment

BP’s US$6bn Azeri Central East project gets the nod

19 April 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 February 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

Smoother sailing ahead for upstream supply chain players

06 February 2019

The global offshore upstream supply chain saw signs of recovery in 2018, and this looks set to continue in 2019, according to global natural resources consultancy Wood Mackenzie. As project FIDs increase, demand for equipment and services are buoying the prospects for the upstream supply chain.

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

ExxonMobil's Pluma marks a perfect 10

04 December 2018

ExxonMobil’s exploration success in the last few years has established the Guyana basin as one of the world’s offshore exploration hotspots. Luiz Hayum, research analyst with Wood Mackenzie's Latin America upstream oil and gas team, comments on Exxon's latest find, Pluma.

News Release

Big Data adds up to big savings for upstream players

12 November 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.

Comment

Hammond raises hopes of decommissioning hub role for Scotland

30 October 2018

In the Autumn Statement, the UK's Chancellor of the Exchequer Philip Hammond did not make any headline changes to oil and gas tax rates, setting out instead plans to make a "call for evidence" on how to establish Scotland as a global hub for decommissioning.

Comment

Petronas takes 10% stake in Oman’s Khazzan development

23 October 2018

Malaysian NOC Petronas buys a 10% interest in Oman's Khazzan development

Comment

Ensco beefs up fleet with Rowan deal

08 October 2018

Offshore driller Ensco is poised to buy smaller rival Rowan in an all-stock deal valued at $2.38 billion.

Comment

ExxonMobil and Guyana hit Jackpot with latest offshore discovery

01 September 2018

ExxonMobil’s exploration success in the last few years has established the Guyana basin as one of the world’s offshore exploration hotspots. Accounting for 15% of all conventional crude found globally since 2015, no other area has delivered as much conventional oil resource.

News Release

Decommission or redevelop? Brazil's mature Campos basin oil fields await resurgence

28 August 2018

Brazil’s Campos basin is awaiting a resurgence in production according to a new report by Wood Mackenzie, analysing the impacts redevelopment of the basin's mature oil fields could have on production, royalty collection and job creation.

Comment

Bidding down but sums higher in US Gulf of Mexico Lease Sale 251

15 August 2018

On Wednesday, 15 August 2018, the US held its region-wide Lease Sale 251, attracting 171 bids from 29 participating companies, with high bids totalling US$178.1 million. An increase of about $53 million from the last region wide lease sale in March.

News Release

Global upstream project delivery is finally hitting the mark

14 August 2018

Has the oil and gas industry finally turned around its reputation for always delivering upstream projects behind schedule and overbudget? Emerging signs of improved execution suggest companies are getting it right after a period of dismal performance on project returns, according to a new Wood Mackenzie report.

Comment

BP seals asset swap with ConocoPhillips

04 July 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

News Release

Exploration industry eyes a brighter future at EAGE

12 June 2018

In his keynote address to the EAGE 2018 Conference in Copenhagen, Andrew Latham, vice president, global exploration, at Wood Mackenzie, told delegates that the exploration sector emerged from the downturn in better shape, and the economic outlook is looking bright.

News Release

Permian produced water: slowly extinguishing a roaring basin?

11 June 2018

With the recent rise oil prices, operators have been adding rigs and ramping up completions in the Permian Basin – the largest and most important source of oil supply growth in the world. However, persistent operational water challenges present a material risk to companies' future profitability and production.

Opinion

Benchmarking 2023’s upstream FIDs

12 April 2023

Capital discipline and carbon mitigation will be key elements of final investment decisions for upstream oil and gas projects this year

Opinion

Japan pulls no punches on risks to Australian LNG exports

12 April 2023

Business leaders see confidence in Australia’s investment climate at risk.

Opinion

The Middle East steps on the gas

04 May 2023

What’s driving the impressive growth of the gas sector in the Middle East?

Opinion

Oil and gas Majors: venture capital strategies for the energy transition

01 May 2023

The Majors have focused investment in nine areas of energy transition technology

Opinion

Drilling down into the UAE’s exploration renaissance

17 May 2023

ADNOC has aggressive decarbonisation targets under a strategy that includes, somewhat counterintuitively, oil and gas growth and a renewed emphasis on licensing and exploration.

Opinion

Petrobras kicks off Marlim revitalisation project in Brazil

23 May 2023

Market activity is picking up for Petrobras – developments are moving forward quickly, while exploration remains slow.

Opinion

Harbour and Talos in merger discussions – what are the drivers?

08 June 2023

According to a Reuters report, North Sea producer Harbour Energy is in talks with GoM-focused Talos Energy over a potential merger. Conslidation continues to drive upstream M&A as companies look to increase resilience and diversify portfolios.

Opinion

Africa upstream oil and gas: one last hurrah?

21 June 2023

Investors are looking afresh at Africa’s advantaged barrels – but old problems persist.

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Search results: 1365

Chevron exits bidding war for Anadarko

What would Australia's Labor win mean for the resources, energy and power sectors?

Southeast Asian upstream M&A could hit US$14 billion

Murphy Oil dives into deepwater Gulf of Mexico with US$1.6bn LLOG deal

BP’s US$6bn Azeri Central East project gets the nod

Brulpadda delivers the goods for Total

Smoother sailing ahead for upstream supply chain players

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

ExxonMobil's Pluma marks a perfect 10

Big Data adds up to big savings for upstream players

Hammond raises hopes of decommissioning hub role for Scotland

Petronas takes 10% stake in Oman’s Khazzan development

Ensco beefs up fleet with Rowan deal

ExxonMobil and Guyana hit Jackpot with latest offshore discovery

Decommission or redevelop? Brazil's mature Campos basin oil fields await resurgence

Bidding down but sums higher in US Gulf of Mexico Lease Sale 251

Global upstream project delivery is finally hitting the mark

BP seals asset swap with ConocoPhillips

Exploration industry eyes a brighter future at EAGE

Permian produced water: slowly extinguishing a roaring basin?

Benchmarking 2023’s upstream FIDs

Japan pulls no punches on risks to Australian LNG exports

The Middle East steps on the gas

Oil and gas Majors: venture capital strategies for the energy transition

Drilling down into the UAE’s exploration renaissance

Petrobras kicks off Marlim revitalisation project in Brazil

Harbour and Talos in merger discussions – what are the drivers?

Africa upstream oil and gas: one last hurrah?

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