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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.
News Release
UK can lead world in net zero energy technologies – but investment is critical
- 16 九月 2020
Wood Mackenzie today delivered a comprehensive roadmap for the North Sea’s future to the OGTC, setting out the critical technologies needed to deliver an integrated net zero energy system on the UK Continental Shelf (UKCS), positioning the UK as a world-leader in the move to a low carbon world.
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
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 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.”
News Release
Global LNG demand faces first seasonal contraction in 8 years
- 02 六月 2020
The global liquefied natural gas (LNG) industry is about to face its first seasonal demand contraction since 2012, with demand in summer 2020 expected to fall 2.7% or 3 million tonnes (Mt) year-on-year, says Wood Mackenzie.
News Release
UK gas market faces Covid-19 deadlock
- 21 五月 2020
The UK gas balance has reached a deadlock for the summer. Resilient UK production, Norwegian imports and baseload LNG imports are overwhelming the market with supply. And with lockdown placing huge pressure on electricity and fuel markets, demand will be weak throughout the summer.
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.
News Release
Ukraine may hold key to Europe’s gas storage crunch
- 16 四月 2020
European gas storage is almost full to the brim – and with the mild weather, coronavirus lockdowns hitting demand and an over-supplied market, levels are not likely to drop soon. New analysis from natural resources consultancy Wood Mackenzie suggests October may prove critical for the market – and highlights a potential solution to the storage crunch.
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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
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.
News Release
Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply
- 01 四月 2020
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.
News Release
Oil price rout: which supply is most at risk of shut-in?
- 27 三月 2020
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?
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?
News Release
Oil price rout may trigger major industry shake-up
- 10 三月 2020
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.
News Release
OPEC+ ‘no deal’ a blow to the market
- 06 三月 2020
The OPEC+ meeting broke up without a deal, what does it mean for the markets?
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
North Sea to remain global hotspot in 2020
- 09 一月 2020
It will be a noteworthy year for the North Sea – companies will increase production for the first time since 2017 and the outlook for both exploration and investment is looking healthy. The region will remain a global hotspot for deals as the corporate landscape continues to evolve. Crucially, the North Sea will also see major steps towards decarbonisation.
News Release
Can Europe cope if Russia shuts off Ukraine gas transit?
- 19 十二月 2019
The gas transit and supply contracts between Russia and Ukraine expire at 10 am on 1 January 2020 (Moscow time) – the future of Ukraine transit remains the largest uncertainty for global gas markets in 2020. Murray Douglas, director, European gas at global natural resources consultancy Wood Mackenzie, said: “Ukraine remains the major transit route for Russian gas into Europe – over 76 billion cubic metres (cm) will be transported via Ukraine this year."
Comment
European Investment Bank to cease funding fossil fuel projects
- 15 十一月 2019
The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.
Comment
Total expands partnership with Adani on India's gas market
- 14 十月 2019
Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.
Comment
Red-letter day for Norway as Johan Sverdrup comes on stream
- 08 十月 2019
First oil from Johan Sverdrup – Norway’s sixth-largest discovery, with reserves of around 2.7 billion barrels – is a red-letter day for the partners and the Norwegian state. The decision to sanction the development was the country's largest final investment decision in more than 30 years.
Comment
ExxonMobil farewells Norway with US$4.5bn Vår Energi deal
- 27 九月 2019
ExxonMobil is selling its Norwegian business to Eni/HitecVision-owned Vår Energi for US$4.5 billion, Norway’s biggest deal since the Statoil-Norsk Hydro merger in 2006.
News Release
Has M&A created value in the North Sea?
- 04 九月 2019
Since the turn of the decade, it’s been a frenetic period for M&A in the North Sea. Against a backdrop of oil price volatility and a dramatically changing corporate landscape, activity reached record levels. But have acquisitions created value so far? Wood Mackenzie recently analysed 55 of the largest North Sea deals announced between 2012 and 2018 from today’s vantage point to quantify underlying value creation.
Comment
BP sells Alaska business to Hilcorp in US$5.6bn deal
- 27 八月 2019
Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making progress with their divestment campaigns. This will mean long-held assets and territories will be let go. BP made such a deal today with its sale of all US Alaska assets to privately-owned Hilcorp."
Comment
TechnipFMC demerger 'a bold step to reposition for the long-term'
- 27 八月 2019
In 2017 Technip and FMC Technologies completed one of the hallmark oilfield service company mergers of the cycle. The business plans to split in the first half of 2020 – but not back into Technip and FMC - rather into ‘upstream’ and ‘mid/downstream’.
Comment
Lift off as Sputnik partners hit oil
- 20 八月 2019
Commenting on Equinor, OMV and Petoro’s Sputnik discovery, Jamie Thompson, an analyst with Wood Mackenzie’s North Sea upstream team, said: “Despite being small and remote – it lies more than 300 kilometres from shore in the northern Hoop area of the Barents Sea - Sputnik has a high chance of commerciality. The aptly-named field could be a satellite of the pre-FID 440 million-barrel Wisting development, which is just 30 kilometres from Sputnik.
Comment
ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio
- 13 八月 2019
Commenting on reports that ExxonMobil is preparing to sell its UK North Sea portfolio, Neivan Boroujerdi, principal analyst, North Sea upstream, at Wood Mackenzie, said: “A proposed UK exit was expected. We value the portfolio at around US$2 billion.

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