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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

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.

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.

Comment

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

Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration

19 十一月 2020

On Wednesday, 18 November, the United States held its region-wide Gulf of Mexico (GoM) Lease Sale 256 and received 105 bids from 23 participating companies, with high bids totalling US$121 million.

Comment

Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor

16 十一月 2020

The commissioning of the Trans Adriatic Pipeline's (TAP) initial 10 bcm per year capacity follows four and a half years of construction, EUR4.5 billion of capex and a variety of obstacles – especially in Italy, where the pipeline ends.

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

Hess sells Shenzi stake to BHP in US$505m deal

05 十月 2020

Hess is selling its 28% working interest in the Shenzi field in US Gulf of Mexico to operator BHP.

Comment

Devon seals WPX merger

28 九月 2020

Speaking after the merger of Devon Energy and WPX Energy was announced this morning, Alex Beeker, principal analyst, corporate upstream, at Wood Mackenzie, said: “Tight oil consolidation has been underway for years, but extreme market volatility has slowed the process considerably. WTI has essentially hovered around US$40/bbl since June, with the stability likely closing the bid-ask spread. “We’ve expected Devon to make a move for some time. With US$1.5 billion in cash on its balance sheet (albeit earmarked for debt reduction), Devon is on a relatively strong financial footing. But Devon has been shrinking fast since its disposal program started in earnest about two years ago. The company’s net production is down 40% since 2018.”

Comment

China pledges to be carbon-neutral by 2060

23 九月 2020

On 22 September, China announced its ambition to be carbon-neutral by 2060. Wood Mackenzie experts weigh in on what this means.

Comment

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.

Comment

Chevron swoops on Noble in US$13bn deal

20 七月 2020

Chevron is set to buy Noble Energy in a US$13 billion all-stock transaction, including US$5 billion in equity. This is the first large-scale corporate acquisition of this downturn.

Comment

Woodside takes impairment but is a US$80 carbon price the bigger news?

15 七月 2020

Wood Mackenzie analysts delved deeper into implications of Woodside's announced US$80 carbon price.

Comment

'Perfect storm' scuttles Atlantic Coast Pipeline

06 七月 2020

With the cancellation of the Atlantic Coast Pipeline (ACP) on 5 July, the project becomes the northeast US’ infrastructure market’s third high-profile victim in the last six months. Dominion and Duke Energy’s decision to pull the plug on ACP comes after the cancellation of the Constitution Pipeline in February and state water permit denial effectively scuppering the Northeast Supply Enhancement project in May.

Comment

Shell's write-down of Australian assets not a surprise

01 七月 2020

It’s no surprise to see Shell writing down the value of its assets, in line with the new post-pandemic energy demand outlook. In fact, we’ve revised the value of oil and gas assets in Asia Pacific by US$200 billion as a result of a lower oil price outlook.

Comment

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

Chevron to sell stake in North West Shelf LNG

18 六月 2020

Chevron continuing to high-grade its portfolio and putting its 16.7% stake in the NWS up for sale makes a lot of sense.

Comment

BP asset write-down 'is significant for sector'

16 六月 2020

Speaking after BP announced it was writing down as much as $17.5 billion when it reports its second quarter results, Luke Parker, vice president, corporate analysis, said: “The impairment shouldn’t come as a big surprise, but the implications – near-term and long-term – are significant.”

Comment

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

06 六月 2020

OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.

Comment

Shell dividend cut frees up US$10bn

30 四月 2020

Anglo-Dutch supermajor Shell today slashed its dividend by 66%, the first time the company has cut cash distributions to shareholders since World War II. The annual pay-out will fall from US$14.9 billion to US$5.1 billion, freeing up US$10 billion of capital.

Comment

Petrobras acts to protect gas value chain as Brazil demand slumps

24 四月 2020

Petrobras’ handling of the crisis it faced as Brazilian gas demand slumped earlier this month offers valuable lessons to integrated players, Mauro Chavez, head of Latin America Gas & LNG at global natural resources consultancy Wood Mackenzie, says.

Comment

Arrow Energy sanctions Surat Gas Project

17 四月 2020

Arrow Energy sanctions Surat Gas Project

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.

Comment

Collapsing demand sets the terms in the OPEC+ battle for market share

09 四月 2020

Since OPEC+’s failure to agree on production restraint on 5-6 March, the implications of the Covid-19 pandemic have become far clearer, sparking a crisis in the oil market as prices fell and supply ramped up. The problem for these producers is the scale of the fall in oil demand, especially during April and forecast for Q2 2020. No matter the size of the varying forecasts, they all point to a challenging market that puts pressure on storage space and prices.

Comment

Equinor carves Gulf of Mexico niche with Monument discovery

06 四月 2020

Norwegian operator Equinor today announced it struck 200 feet of oil pay at the Monument exploration well, in the US Gulf of Mexico.

Comment

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.

Comment

India’s 21-day lockdown – Impact on commodities?

30 三月 2020

India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.

Comment

Can the North Sea survive the price rout?

23 三月 2020

The North Sea has weathered several storms in its 50-year existence. But the events of the past few weeks mean the sector is entering uncharted waters. The coronavirus pandemic and collapse in OPEC+ production restraint has seen Brent reach its lowest point since 2003.

Comment

Industry slashes spending as price rout deepens: Can companies cope?

19 三月 2020

Survival mode has returned to the oil and gas sector as the oil price rout deepens. Corporate financials are in better shape than during the 2014/2015 crash, but room for manoeuvre is limited. Can companies cope with prices this low?

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Search results: 153

Myanmar coup and impact on oil and gas industry

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

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

OPEC+ agrees to increase output after tense negotiations

All eyes on OPEC meeting as group mulls easing of production restraint

Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration

Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor

Chrysaor seals North Sea top spot with reverse takeover of Premier Oil

Hess sells Shenzi stake to BHP in US$505m deal

Devon seals WPX merger

China pledges to be carbon-neutral by 2060

Turkey nets largest-ever find with Tuna-1 gas discovery

Chevron swoops on Noble in US$13bn deal

Woodside takes impairment but is a US$80 carbon price the bigger news?

'Perfect storm' scuttles Atlantic Coast Pipeline

Shell's write-down of Australian assets not a surprise

Shell's US$22bn write down 'signals fundamental change'

Chevron to sell stake in North West Shelf LNG

BP asset write-down 'is significant for sector'

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

Shell dividend cut frees up US$10bn

Petrobras acts to protect gas value chain as Brazil demand slumps

Arrow Energy sanctions Surat Gas Project

Shell 'to be net-zero company by 2050'

Collapsing demand sets the terms in the OPEC+ battle for market share

Equinor carves Gulf of Mexico niche with Monument discovery

US$210bn of new spend in firing line as players target cost cuts

India’s 21-day lockdown – Impact on commodities?

Can the North Sea survive the price rout?

Industry slashes spending as price rout deepens: Can companies cope?