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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
BP confirmed today that it picked up over 40% stake in the Asian Renewable Energy Hub project to produce and export green hydrogen in Australia.
South Korean conglomerate POSCO has made a surprise move on Australian gas producer Senex Energy making its first foray into the country’s upstream industry.
Wood Mackenzie’s Global Energy Summit Upstream Focus Day has addressed some of the biggest issues facing the industry.
Woodside has confirmed it is in discussions with BHP over a potential merger involving BHP’s entire petroleum business.
Wood Mackenzie is organising the 2021 Southeast Asia Energy Forum today. Experts will be discussing key issues and opportunities facing the region’s energy industry over the coming decades.
Wood Mackenzie experts discussed key drivers of Asia Pacific gas markets at the Northeast Asia Gas Forum today.
Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.
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.
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.
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.
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.
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?
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?
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?
The government of PNG has called-off negotiations on the development of the ExxonMobil-operated P’nyang gas field.
India's 2020 energy outlook
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.
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