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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.

News Release

Energy transition to be key driver of Australia’s upstream M&A

01 十月 2020

The energy transition is expected to be a major driver of the future of Australia’s upstream M&A, says Wood Mackenzie.

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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.”

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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.

News Release

Indonesia’s straddle between gross split and cost recovery is positive step forward

17 九月 2020

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.

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.

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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.

News Release

Renewable energy could reduce Asia Pacific LNG plant emissions by 8%

17 八月 2020

Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.

News Release

India’s new deepwater supply could face pressure from low spot LNG prices

21 七月 2020

India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.

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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.

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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.

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'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.

News Release

Total named industry’s most-admired explorer in WoodMac survey

06 七月 2020

French major Total has been named the upstream industry’s most-admired explorer, an accolade awarded in conjunction with Wood Mackenzie’s industry-leading annual Exploration Survey.

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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.

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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.

News Release

Chesapeake Energy – shale’s great disruptor – files for Chapter 11

28 六月 2020

Speaking after Chesapeake Energy filed for Chapter 11 bankruptcy protection on 28 June, Alex Beeker, principal analyst on Wood Mackenzie’s corporate upstream team, said: “It’s difficult to point to another company that has made more of a widespread impact on the US shale sector than Chesapeake.

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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.

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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.

News Release

US midstream takes hit as Lower 48 E&Ps turn off taps

03 六月 2020

The oil price crash has hit the US Lower 48 hard. But as exploration and production companies work to mitigate the impact of the crash on their businesses, their strategies are affecting the region’s midstream players.

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.

News Release

NOCs to slash over a quarter of exploration budgets on average in 2020

20 五月 2020

National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.

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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

Arrow Energy sanctions Surat Gas Project

17 四月 2020

Arrow Energy sanctions Surat Gas Project

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.

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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.

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Search results: 330

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

Energy transition to be key driver of Australia’s upstream M&A

Devon seals WPX merger

China pledges to be carbon-neutral by 2060

Indonesia’s straddle between gross split and cost recovery is positive step forward

UK can lead world in net zero energy technologies – but investment is critical

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

Renewable energy could reduce Asia Pacific LNG plant emissions by 8%

India’s new deepwater supply could face pressure from low spot LNG prices

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

Total named industry’s most-admired explorer in WoodMac survey

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

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

Chesapeake Energy – shale’s great disruptor – files for Chapter 11

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

US midstream takes hit as Lower 48 E&Ps turn off taps

Global LNG demand faces first seasonal contraction in 8 years

UK gas market faces Covid-19 deadlock

NOCs to slash over a quarter of exploration budgets on average in 2020

Shell dividend cut frees up US$10bn

Arrow Energy sanctions Surat Gas Project

Ukraine may hold key to Europe’s gas storage crunch

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