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A five-year delay to the energy transition could see the global average temperature rise to 3°C above pre-industrial levels.
Indonesia’s oil and gas sector must undergo a major overhaul in the way it operates if it is to realise the full potential of the country’s natural resources and support a successful energy transition, according to a new white paper by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
US Inflation Reduction Act bill set to boost CCUS uptake but more is needed to meet net zero goals by 2050
Wood Mackenzie’s latest analysis reveals that sustainability and resilience will be at the heart of the oil and gas industry story in 2021.
Wood Mackenzie’s Asia Pacific upstream 2021 outlook report shows that the development of regional decarbonisation roadmaps is crucial to the future of the upstream industry.
Wood Mackenzie’s latest analysis shows 2020 is on track to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century.
Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition kickstarted yesterday. Experts shared their views on how the energy sector is changing in light of the oil price crash, Covid-19 and the latest carbon-neutrality trends.
Introducing a choice between gross split and cost recovery for new licences is a positive step forward for Indonesia's upstream sector, says Wood Mackenzie.
Global regasification (regas) capacity under construction is expected to hit a 10-year high at 144 million tonnes per annum (mmtpa) in 2020, says Wood Mackenzie.
Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.
India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.
Indonesia’s LNG demand is expected to be resilient against the coronavirus-led global economic downturn, says Wood Mackenzie. The country’s H2 2020 LNG demand could hit 3.1 million tonnes (Mt), a 1.2 Mt or 63% increase year-on-year.
In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year.
The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent crude has plunged to less than US$30/bbl. This will have a significant impact on currently producing fields and future supply. How low can the price go before different sources of production become uneconomic? Where are production shut-ins most likely? Can governments influence the result?
As global markets reel in the wake of the oil price crash, Wood Mackenzie’ corporate analysis team believes the price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s.
The OPEC+ meeting broke up without a deal, what does it mean for the markets?
Wood Mackenzie has identified five themes related to project sanctions, exploration, M&A, energy transition and IMO 2020 that will impact Asia Pacific’s upstream industry in 2020.
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.
The energy transition is undoubtedly impacting corporate upstream strategies in significant and disruptive ways. Coupled with the post-2014 downturn in oil prices, Wood Mackenzie sees seismic changes in the way the industry allocates capital across development, exploration and in particular M&A.
Wood Mackenzie has identified the five most likely disposal candidates after ExxonMobil signalled the start of its Asia Pacific divestment programme. Together, these opportunities are worth US$5 billion, and could contribute a third of the Supermajor's global divestment target.
Though set to become the world’s third largest gas producer by 2027, China’s imports will still grow in the long term. One key contributing factor is lower forecast in domestic gas production particularly in shale gas and coal bed methane (CBM), according to recent research by Wood Mackenzie.
Wood Mackenzie believes that discovering new value requires going beyond isolated datasets. The solution lies in data consortiums – cooperative platforms where companies can safely share quality data.
According to research by natural resources consultancy Wood Mackenzie, Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia, primarily due to the need for additional gas supply.
Rising natural gas production in Argentina, coupled with competitive global LNG transportation costs, is expected to position the country as an emerging source of gas supply to Asia during peak demand periods, according to new research from Wood Mackenzie.
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
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.
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.
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.
In a newly published report, Wood Mackenzie notes that the deepwater industry appears in good health, following a sustained cost reduction through the downturn. However this hard work is in danger of being undone, as impending cyclical cost inflation could raise break-even costs once again.
Wood Mackenzie forecasts that global oil and gas development spend needs to increase by around 20% to meet future demand growth and ensure companies sustain production next decade.
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