Woodmac exploration outlook: Move from ‘Big Oil to Big Energy’ under way
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.
Wood Mackenzie
Transformation on the cards for struggling offshore supply chain, Woodmac says
With margins staying “razor thin” and cost pressures continuing to bear down, the offshore supply chain may take on a “whole new look” this year, according to a Wood Mackenzie analyst.
Biggest ever Subsea Expo dives into the ‘blue economy’
Subsea Expo 2020, set to be the biggest in the event’s 15-year history, has today announced its programme of speakers for the conference which will see 70 industry professionals take to the stage at P&J Live on 11-13 February 2020.
Asia Pacific upstream M&A set to accelerate
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
Sun sets on a slow year for North Sea sanctions
A bumper year for new project sanctions on the UK continental shelf (UKCS) in 2018 has been followed by an underwhelming 2019, analysts have said.
European Investment Bank to end financing for oil and gas post-2021
The European Investment Bank (EIB) has announced it will end all financing for oil and gas from the end of 2021.
More new oil and gas inventory coming from mergers, not exploration
Increasingly more recoverable barrels of oil and gas around the world are coming from corporate mergers and acquisitions, and not from traditional exploration.
ANPG plans for future Angola LNG supply
Angola’s new regulator Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has held talks with various producers about supporting future production from Angola LNG.
Total snaps up stake in Adani Gas for more than £470m
French energy giant Total SA is spending £476 million to expand its presence in one of the world’s fastest growing natural gas markets.
Siccar Point aims to keep options open with new gas line west of Shetland
The design for the Cambo field, west of Shetland, will take some of the sting out of a problem that has “held back” production from the area for decades, an oil company chief said.
‘Value destruction’ of nearly £8billion after North Sea deals, says WoodMac
There has been around £8billion of destroyed value through North Sea deals between 2012 and 2018, according to WoodMackenzie.
Exploration wells and FIDs beckon for UKCS
The UK upstream oil and gas sector will be a hive of activity over the coming years, two global energy consultancies have said.
2019 a tantalising year for North Sea exploration, Woodmac says
Energy consultancy Wood Mackenzie has predicted a 25% rise in the number of exploration wells to 60 in 2019 across the whole of the North Sea.
M&A shake-up on the horizon for the Australian upstream sector
Australians love a good yarn, a chinwag, a chat. But it’s not sports or politics that’s making the ‘goss’ in the oil and gas boardrooms of Perth right now.
TechnipFMC demerger a ‘bold move’, Woodmac says
The decision by global energy service firm TechnipFMC to split into two separate listed companies has been described as a "bold move" by research firm Wood Mackenzie (Woodmac).
Exxon’s $2bn UK business ‘attractive’, but Shell alignment needed, analyst says
ExxonMobil's UK North Sea assets are an "attractive" proposition due to their low running costs, an analyst has said amid speculation the US major is trying to sell the portfolio.
Total to remain among UK’s major players despite £500m asset sale
Total will remain one of the major players in the UK North Sea despite the proposed sale of a package of assets to Petrogas in a £509m deal.
Global wind power to grow ‘by 60%’, Woodmac say
The global offshore wind power market is set to grow "by 60% over the next five years", according to energy research firm Wood MacKenzie (Woodmac).
BP says some of its oil ‘won’t see the light of day’
Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP Plc to conclude some of its resources “won’t see the light of day,” according to its head of strategy.
Explorers in ‘existential crisis’ as energy transition picks up pace, Woodmac says
Explorers are in the grip of an existential crisis as the energy transition gathers pace, an analyst said today.
The era of oil and gas digitalisation is upon us – Woodmac
The oil and gas sector is sharpening its digital game. The downturn was a wake-up call. It forced companies to be more resilient in a low oil price environment. And it brought digitalisation to the fore.
Deepwater and tight oil are more similar than you think, Woodmac says
Deepwater and tight oil are two of the upstream sector’s great growth themes, but are often considered to be at opposite ends of the development spectrum.
Gas shortfall threat should spur new investment in Malaysia, Woodmac says
Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia due to supply shortages, according to Wood Mackenzie.
Offshore wind market ‘demand’ to grow by £8.5bn by 2028, Woodmac reports claims
Global offshore wind market "demand" is set to grow by more than £8.5 billion as subsidy-backed projects continue their domination, according to a new report by Wood Mackenzie (Woodmac).
Two sides to North Sea exploration coin, analyst says
The UK North Sea’s maturity is a double-edged sword when it comes to exploration, an analyst has said.