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A new study by Wood Mackenzie, examines this shift in the oil market, and assesses the challenges and opportunities facing the market and US producers and midstream operators.
Mexico’s second deepwater licensing round closed today on a high note with 19 of 29 offered blocks awarded, raising more than US$500 million in cash payments. Shell dominated the auction, snapping up nearly half of all blocks awarded. In the Perdido Area, the company won five of six awarded blocks.
Driven by an impressive array of licensing and farm-in opportunities, plus an upsurge in exploration activity, Latin America’s upstream sector is poised for a banner year in 2018, according to a new insight by Wood Mackenzie, Latin America Upstream: What to look for in 2018.
India is poised to double its oil product demand growth (190 kb/d) in 2018 after a sluggish 2017, when demand grew by only 93 kb/d. Last year, demand growth was at its slowest in the past three years.
OPEC and non-OPEC producers agree to extend production curbs through 2018
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.
The introduction of India's Goods and Services Tax (GST) has lifted oil demand in the country this year. Crude oil, natural gas, diesel and gasoline are currently exempt from the GST. However, diesel and gasoline demand are indirectly affected by the impact of GST on vehicle prices and sales, especially in the logistics sector.
To mark the start of the India Energy Forum by CERA week, Wood Mackenzie analysts weigh in on the country's oil and gas outlook and production prospects.
Following the announcement of Beach Energy's US$1.25 million acquisition of Origin Energy’s subsidiary, Lattice Energy, our Australasia senior analyst Chris Meredith, weighs in on the deal.
We took a closer look at the impact of the UK government’s proposal to ban the sale of new petrol and diesel cars by 2040.
A joint research report conducted by Wood Mackenzie and GTM Research assessing generation economics concludes that declining renewables and energy storage costs will increasingly squeeze out gas-fired generation in South Australia as early as 2025.
Those hoping that recent oil-price weakness will prompt US producers to pull back drilling activity and ease the glut of oil supply may need to keep waiting.
Gas demand may be nearing a new peak due to stringent fuel efficiency standards and shifting demographics.
Egypt's fortunes look set to change after five years of falling production and switching from a net exporter to a net importer.
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