• News Release

  Over US$11 billion of Australian gas projects to be sanctioned in 2021

  • 10 十二月 2020

  Wood Mackenzie’s Australasian upstream 2021 outlook report shows at least US$11 billion of gas projects poised for FID in 2021.

• Comment

  Biden administration and what it means for China and rest of Asia Pacific

  • 20 一月 2021

  As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.

• Comment

  China’s trucked LNG spot prices hit three-year high

  • 12 一月 2021

  Spot prices of trucked LNG in China were highly volatile last month.

• News Release

  Australia should revise RET policy; more ambitious target needed to unlock investments

  • 04 二月 2021

  Australia needs an ambitious long-term Renewable Energy Target (RET) policy to unlock future investments, says Wood Mackenzie.

• News Release

  Australia's next wave of LNG projects needs to compete to progress

  • 28 五月 2019

  According to research by Wood Mackenzie, a second wave of LNG investments is building, both in Australia and globally, and these projects need to compete to progress

• News Release

  LNG primed for US$200bn capex boom

  • 25 四月 2019

  The liquefied natural gas (LNG) boom is back. Over the next two years, almost 90 million tonnes per annum (mmtpa) of LNG is expected to take final investment decision (FID) and start construction. New research from Wood Mackenzie show that capital expenditure - for both LNG plant and upstream infrastructure - will total more than US$200 billion between 2019 and 2025. This will provide a major boost to engineering, procurement and construction (EPC) contractors and other providers along the supply chain.

• News Release

  Action to achieve Paris climate goals will upend oil and gas prices

  • 15 四月 2021

  If the world acts decisively to limit global warming to 2°C by 2050, the scale of change will revolutionise the energy industry. Progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets. Oil demand will shrink, and with it, so will the power of major oil producers. Gas demand will remain resilient, but business models will need to evolve.

• News Release

  Carbon pricing plans ‘could transform upstream oil and gas economics’

  • 31 三月 2021

  At present, few countries require producers to either pay a carbon tax or participate in an emissions trading scheme (ETS). But as governments seek to meet decarbonisation targets, that could soon change. Carbon charges are likely to come, and they will transform the upstream sector, affecting both asset values and the industry’s economics.

• News Release

  UK charts course for net zero North Sea

  • 06 五月 2021

  The UK government and the country’s oil and gas sector recently agreed a deal to leverage the upstream industry's capabilities, accelerate the energy transition and help the North Sea reach net zero by 2050.

• News Release

  Energy transition represents a US$14 trillion uncertainty for upstream oil and gas

  • 20 五月 2021

  The energy transition represents US$14 trillion worth of uncertainty for upstream oil and gas, according to a new report by Wood Mackenzie.

• Comment

  UK North Sea M&A gains pace with NEO, Waldorf deals

  • 10 三月 2021

  The latest acquisitions by NEO Energy and Waldorf Production continue what has been blockbuster start to the year for UK M&A with buyers and sellers buoyed by the recent recovery in prices. Just over two months into 2021 and UK disclosed deal spend has reached US$2.7 billion, almost equalling last year’s total, making it one of the hottest markets globally.

• Comment

  Santos announces Barossa project FID

  • 30 三月 2021

  Santos has sanctioned the Barossa project, which extends the life of Darwin LNG (DLNG) beyond 2040.

• News Release

  China’s pipeline reform: expect higher gas prices in the short-term

  • 09 十月 2019

  New research from Wood Mackenzie indicates that the creation of a national pipeline company in China is a step in the right direction but will result in higher end-user prices in the short-term as the country tries to balance institutional reform with implementation risks.

• Comment

  Brazil licensing round sets record as Majors eye November's prizes

  • 10 十月 2019

  Brazil's Licensing Round 16 set a record – the BRL 8.9 billion (US$2.2 billion) in signature bonuses is the highest yet for a Brazilian round. Of the 36 blocks on offer, 12 were awarded, all in the prolific offshore Campos and Santos basins. Malaysia’s Petronas, Qatar’s QPI, Spanish producer Repsol and the US’ Chevron all bid high. QPI and Petronas were the biggest spenders of the day, as well as Petrobras. Only Campos and Santos basin blocks were awarded, with frontier acreage failing to attract interest.

• Comment

  Majors cautious as Petrobras takes prize in Brazil’s TOR round

  • 06 十一月 2019

  Brazil’s largest-ever auction of oil licences – the Transfer of Rights round – saw state-controlled Petrobras walk away with the biggest prizes, the Búzios and Itapu blocks.

• News Release

  OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

  • 05 三月 2020

  The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.

• Comment

  New CEO Looney rings changes at BP with ambitious climate plan

  • 12 二月 2020

  Speaking after BP’s new chief executive Bernard Looney unveiled the major’s ambitious climate commitments today, Luke Parker, vice president, corporate analysis, said: “BP joins Shell, Total, Equinor and Repsol in making a major commitment to reduce its net carbon footprint. “This marks a major turnaround in BP’s position. Just 12 months ago former CEO Bob Dudley said the company could not be held accountable for how people use its products. Looney is taking the company in a very different direction.” Parker added: “It’s an ambition, rather than a target, but the commitment appears to be unconditional. In terms of scale of commitment, this puts BP towards the top of the pack, along with Repsol and Equinor. “This will see BP’s business completely transformed over the coming decades: renewables and carbon abatement will get very big, legacy oil and gas will eventually get smaller. But the transition to 2050 is a multi-decade transition - not something that will happen in the next year or so.”

• News Release

  Consolidation to become major theme in E&P’s transition

  • 17 十一月 2020

  Consolidation among the Independents will accelerate in the face of energy transition, says Wood Mackenzie.

• News Release

  Over three quarters of new LNG supply could be impacted in 2-degree world

  • 09 十二月 2020

  Wood Mackenzie’s latest report shows that over three quarters or 77% of new LNG supply are at risk under a 2-degree scenario.

• Comment

  OPEC+ agrees to increase output after tense negotiations

  • 07 十二月 2020

  Tense negotiations and rumours of a rift between Saudi Arabia and UAE ended with a compromise deal for OPEC+ on 3 December 2020. Despite concerns on oversupply for Q1 2021, the group agreed to increase output by 500,000 b/d in January. Production restraint is set at minus 7.2 million b/d instead of the Q4 2020 level of minus 7.7 million b/d.

• News Release

  ConocoPhillips swoops on Concho in $9.7bn all-stock deal

  • 19 十月 2020

  Speaking after ConocoPhillips announced it will take over Concho Resources in a $9.7 billion all-stock deal, Robert Clarke, vice president, Lower 48 upstream, at Wood Mackenzie, said: “The combination is remarkable. Just in scale, ConocoPhillips is adding enough Permian production to nip at the heels of ExxonMobil’s massive programme."

• Comment

  Myanmar coup and impact on oil and gas industry

  • 04 二月 2021

  Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.

• Comment

  OPEC+ surprises market as it extends output curbs

  • 04 三月 2021

  OPEC+ took the market by surprise when it decided to roll over its quota, saying that rather than anticipate a demand recovery, the group would wait to see it actually recover. The market was expecting a substantial increase in production because a tightening in the supply and demand balance is already evident.

• Comment

  Qatar Petroleum takes FID on North Field East

  • 09 二月 2021

  Qatar Petroleum announced that it has taken final investment decision (FID) on the North Field East project.

• News Release

  Tapping working gas volume could cushion blow of Europe’s energy crunch

  • 04 十一月 2021

  European gas storage has been struggling to fill this summer. Storage at the beginning of November will be about 75% full, at 83 billion cubic metres (bcm), 14 bcm below the five-year average, rattling the market. A cold European winter could result in storage levels falling to zero by the end of March 2022, unless more Russian gas supply is available versus current export levels. But there could be an alternative available to the market should this come to pass – tapping the substantial amount of cushion gas available in Europe’s storage facilities. Global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK), said using cushion gas could allow an extra 15 bcm enter the market, easing the supply crunch.

• News Release

  Oil and gas companies must be bold as energy transition sets tone for 2022

  • 09 十二月 2021

  It’s set to be an action-packed year for Majors, Independents and national oil companies alike. Big choices will set strategic trajectories for the energy transition ahead. New research from Wood Mackenzie, a Verisk business (Nasdaq:VRSK), indicates that oil and gas companies are likely to be bold in 2022. Formidable cash flow generation, increasing new energy opportunities and the development of a carbon market are a powerful force for change.

• Comment

  OPEC+ shrugs off US pressure to announce 400,000 b/d output boost

  • 04 十一月 2021

  Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “After unusual pressure from the US administration to lift its production, OPEC+ announced it is boosting output by 400,000 barrels per day (b/d) for December, in line with its 18 July 2021 agreement. This will be seen as disappointing by the US, which is asking for an extra increase closer to 600,000 b/d. But as long as OPEC+ actually boosts its output by 400,000 b/d, the US has indicated it will accept the outcome."

• Comment

  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.

• Comment

  US to release crude oil from strategic petroleum reserve

  • 25 十一月 2021

  On 23 November, US President Biden announced the release of 50 million barrels (mbbl) of crude oil from the US Strategic Petroleum Reserve (SPR).

• Comment

  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.