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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
BP sells petrochemicals business to INEOS in US$5bn deal
- 29 六月 2020
Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.
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
What does China's thermal coal import restriction mean for Australian producers?
- 22 五月 2020
Rumours of a ban on Australian thermal coal to China have surfaced in the thermal coal market this week.
Comment
China's Two Sessions reiterates commitment to pollution control
- 22 五月 2020
The topic of environmental protection continues to feature heavily in the Two Sessions today. Wood Mackenzie experts share some initial thoughts.
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
South Korea's metcoal demand to fall modestly amidst coronavirus outbreak
- 15 四月 2020
South Korea's hot metal production will decline by 4.2 Mt or almost 10% in 2020. There is of course a risk that production decline would be greater, if containment of the virus is unsuccessful.
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?
Comment
Companies pass on the US Gulf of Mexico lease sale
- 18 三月 2020
Today’s region-wide Gulf of Mexico Lease Sale 254 saw 84 bids received from 22 participating companies, with high bids totalling US$93 million. That amounts to roughly half of the previous lease sale, held in August 2019.
Comment
Jet fuel takes hit as Trump unveils US travel ban
- 12 三月 2020
The travel ban announced by US President Donald Trump today is likely to have an immediate impact on jet fuel demand and prices across Europe and the US.
Comment
UK Budget - £500 million to support rapid electric vehicle charging hubs
- 11 三月 2020
Wood Mackenzie expects 1.5% of all passenger vehicles in the United Kingdom to have a plug by the end of 2020, ramping up to 43% by 2040.
Comment
UK Budget - new plastics packaging tax
- 11 三月 2020
The UK currently recovers or recycles just under 50% of plastics packaging, making it a middling performer in European terms
Comment
Rio Tinto will spend $1bn to reach net zero emissions by 2050
- 26 二月 2020
Rio Tinto has announced it will spend $1bn to reach net zero emissions by 2050
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.”
Comment
French major Total to take 50% stake in Adani solar unit
- 07 二月 2020
Speaking after French major Total announced it planned to buy a 50% stake in Indian company Adani Green Energy’s solar unit, Tom Heggarty, principal analyst with Wood Mackenzie’s Energy Transition Practice, said: “Total has been extremely active in the power and renewables M&A market as it seeks to diversify its activities and grow its exposure to the zero-carbon power sector."
Comment
China’s demand drops for first time since 2009 as coronavirus hits oil markets
- 04 二月 2020
The near-term impact of the coronavirus outbreak on oil demand remains uncertain as much depends upon when and how China’s manufacturing industry restarts after the currently extended Lunar New Year public holiday.
Comment
Jebel Ali gas find ‘largest since 2005’
- 03 二月 2020
The announcement of an 80 trillion cubic feet (tcf) find at Jebel Ali, on the border between Abu Dhabi and Dubai, is hugely significant for the United Arab Emirates. Liam Yates, an analyst on Wood Mackenzie’s Middle East upstream team, said: “The find ranks as the largest global gas discovery since Galkynysh (South Iolotan). The Turkmen field was discovered in 2005."
Comment
The impact of the coronavirus on the Chinese polyester industry
- 03 二月 2020
The Chinese economy and the country's polyester and textile industries could be under pressure as a result of the new coronavirus outbreak. Drawing a parallel with the SARS crisis in 2003, polyester demand may weaken as business activities stall.
Comment
PNG government calls off P'nyang Gas Agreement negotiations
- 03 二月 2020
The government of PNG has called-off negotiations on the development of the ExxonMobil-operated P’nyang gas field.

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