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Qatar eyes LNG top spot as it primes 64% output boost

26 十一月 2019

On 25 November, Qatar Petroleum (QP) announced that it will boost output from Qatar LNG by 64% - from 77 million tonnes per annum (tpa) at present to 126 million tpa by 2027 – following a successful appraisal of the North Field’s onshore extension, near Ras Laffan Industrial City.

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."

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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’.

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.

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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.

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

Golden Pass crests second wave of US LNG

05 二月 2019

ExxonMobil and Qatar Petroleum’s announcement that they will proceed with development of the Golden Pass liquefied natural gas (LNG) export project at Sabine Pass, Texas, kicks off what could be a record year for LNG final investment decisions (FIDs). The go-ahead for Golden Pass LNG comes as Anadarko and its partners in Mozambique LNG (Area 1) took a major step towards FID after signing sales and purchase agreements (SPAs) with CNOOC, Tokyo Gas-Centrica and Shell. ExxonMobil (30%) and Qatar Petroleum (70%) said construction at Golden Pass will begin in the first quarter of this year, with start-up scheduled for 2024.

News Release

Has FLNG crested the wave?

30 一月 2019

Despite its small share of the total liquefied natural gas market, floating LNG (FLNG) has generated outsized interest in recent years. In a world requiring tight capital discipline, FLNG offers lower capital investment and manageable costs, particularly in frontier regions.

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.

Comment

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

Comment

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.

News Release

Exploration industry eyes a brighter future at EAGE

12 六月 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

Chinese shale gas production to almost double in two years

17 四月 2018

Shale gas in China has seen significant progress over the last decade, growing to nearly 600 wells and 9 bcm of production last year. In its latest analysis, Wood Mackenzie projects Chinese shale gas production to almost double to 17 bcm in 2020.

News Release

Upstream FIDs pushes on with lower costs

05 四月 2018

As previously forecasted by Wood Mackenzie, 2017 saw a significant recovery in upstream FIDs, with the number of project sanctions more than doubled compared to 2016. Wood Mackenzie expects a similar total this year - circa 30 major project FIDs - supported by continued prudence in industry spending.

Comment

Can LNG save China from winter gas shortage?

22 十一月 2017

China's introduction of the '2+26' cities policy earlier this year calls for restricted use of coal for both residential heating and industrial purposes. This has significant ramifications for the Chinese winter season where demand is traditionally high. As an alternative to coal, gas demand could rise by 23 bcm this year compared to previous winters. Facing the most severe shortages is northern China, particularly Beijing, Tianjin and Hebei (abbreviated as BTH), where demand is highly seasonal. This region will make up half or 10 bcm of the incremental winter gas demand in 2017.

Comment

Will Trump's Beijing trip win some LNG deals for the US?

08 十一月 2017

The Trump administration has been championing US energy exports as its preferred instrument for narrowing its trade deficit in the wake of the US shale boom. A combination of rising export capacity in the US, LNG import demand growth in China, and political cheerleading has underpinned an uptick in LNG exports to China this year via third party, spot trades. Will Trump's trip to Beijing seal the deal for some major LNG deals?

News Release

What's behind Libya's production boost?

20 十月 2017

Libya's oil production has increased steeply from August 2016’s low point of below 300,000 barrels per day (b/d) to around 850,000 b/d at present, passing the 1 million b/d barrier in July. But Wood Mackenzie believes Libya may now be reaching its near-term production limits and future growth will be gradual.

News Release

Half of traditional super basins are future-fit and they have three things in common

21 七月 2022

Energy super basins of the future must fulfill three key criteria - abundant resources, access to low-cost renewables and hub-scale carbon capture and storage (CCS) opportunities, according to a new report by Wood Mackenzie.

News Release

The Australian energy crisis highlights the need for new gas supply

29 八月 2022

With prices soaring 400%, government is challenged to find the delicate balance of energy security and net zero goals

News Release

Wood Mackenzie predicts European gas demand will continue to fall, helping gas storage outlook for this winter and the following

01 九月 2022

High natural gas prices will continue to drive down European demand to seven percent below the five-year average through March, leaving a best-case scenario of storage levels at 31% at winter’s end, in line with the five-year average, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).

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