Oil sector in best shape since downturn, Woodmac says
Upstream companies are to shift focus from merely surviving to thriving going into 2018, Wood Mackenzie said in a report.
Wood Mackenzie
Adipec 2017: Mena investment picking up after lean years, Woodmac says
Investment in the Middle East and North Africa (Mena) region is picking up after two years of decline, an analyst has said.
Production decline rates diminish hopes of crude price rise, Woodmac says
The rate of non-Opec production decline will remain steady through to 2020, creating disappointment for companies pinning their hopes on crude price rises, a new report said.
Carbon emissions tax could put £33bn dent in upstream portfolio values, report says
Changes to carbon emissions regulations could put a £33.2billion ($45billion) dent in the value of oil firms’ global upstream portfolios, a new report said.
‘Keep up the good work’ to attract fresh capital to North Sea, Woodmac says
The North Sea oil and gas industry needs to “keep the good work going” in order to fight off competitors for new investment, an analyst has said.
Simon Flowers: The big prize in the UK’s small pools
Since the 2014 Wood Review, Maximising Economic Recovery has been the remit of the Oil and Gas Authority. To achieve this, data transparency was a key aim, and in late 2016 the OGA delivered a 'Small Pools' dataset. Here, free data packages were provided for undeveloped resource on the UKCS.
North Korea volatility could impact global energy imports, analyst says
Any future threats from Pyongyang could significantly impact neighbouring countries' energy trades, causing them to utilise strategic petroleum reserves, it has been warned.
Maersk Oil acquisition a story of North Sea consolidation for Total, Woodmac says
Total's multi-billion dollar acquisition of Maersk Oil is driven by the French energy giant's desire to consolidate in the North Sea, an analyst said.
Australian renewables and batteries to outstrip gas by 2025
Falling renewables and battery costs will mean the displacement of gas as the leading source of energy generation in South Australia by 2025, a new report said.
Upstream FIDs to double in 2017, Woodmac says
The number of upstream projects sanctioned globally is on course to double this year as the sector’s recovery continues, an energy consultancy has said.
Oil explorers sticking to cheaper and easier options in mature basins
Scottish energy consultancy Wood Mackenzie (WoodMac) says global oil and gas exploration in mature basins remains focused on high-margin, low-cost and near-field prospects.
Renewables ready to compete against upstream, Woodmac says
Oil majors will switch more capex from upstream projects to renewables over the next 20 years as green power starts yielding greater returns, a new report said.
New report says global exploration recovering from its ‘nadir’
Stability and a slow recovery during 2017 may consign last year to the history books as a “nadir” for conventional global oil and gas exploration, an Aberdeen-based energy research consultancy said yesterday.
Asian investment on US shale deals has dried up since downturn
US shale was the hot ticket for Asian investors before the downturn but deals have dried up since 2014, according to analysts Wood Mackenzie.
Plenty to fight over in the North Sea in new Scottish independence vote
There is much at stake for North Sea oil and gas in the next Scottish independence referendum, whenever it happens, according to a new report.
WoodMac report highlights cautious mood in the upstream sector
Upstream oil and gas companies may be quietly optimistic about the outlook for 2017 but many remain cautious, according to a report by Scottish energy consultancy Wood Mackenzie (WoodMac).
Woodmac predicts North Sea M&A extravaganza in 2017
Energy consultancy Wood Mackenzie (Woodmac) has predicted a bonanza of mergers and acquisitions (M&A) activity on the UK continental shelf in 2017.
WoodMac says global oil and gas investment decline to end this year
Investment in global upstream oil and gas projects will grow this year for the first time since crude prices tumbled in 2014, a new report says.
Norway could open up ‘new oil province’, report says
Norway’s upstream sector will stage a recovery this year thanks to an upturn in exploration activity, large financial investment decisions (FIDs) and company consolidations, a new report said.
Oil sector to turn cash flow positive in 2017, WoodMac says
The oil and gas industry will turn cash flow positive in 2017 if the Opec production deal drives crude prices back above $55 per barrel, analysts from Wood Mackenzie said.
Oil and gas exploration to return to profitability next year, Woodmac says
Smarter choices and cost cutting will see oil and gas companies’ exploration efforts worldwide returning to profitability in 2017, a new report has claimed.
Oil majors getting exploration economics right, study says
Oil majors are getting the economics of exploration right after taking the crude price downturn by the horns, a new report said.
ONS 2016: WoodMac says $50bn wiped from capital investment in Norway
An estimated $50billion has been removed from a forecast of capital investment in Norway over the next four years.
UK North Sea has one billion barrels worth of projects cut
The UK North Sea has had one billion barrels worth of projects cut from its future pipeline as it battles its most enduring downturn yet, according to Wood MacKenzie.
Most global oil projects seen working below $60 on cost cuts
Most of the oil projects planned over the next decade are economically viable with prices below $60 a barrel as explorers succeed in squeezing costs, consultant Wood Mackenzie Ltd. said.