Updated: Complete UK exit ‘increasingly likely’ for Chevron, Woodmac says
A full exit from the UK is “increasingly likely” for US major Chevron following the sale of its central North Sea portfolio to Ithaca Energy, an analyst said yesterday.
Wood Mackenzie
2019 the year exploration got its mojo back, Woodmac says
The global oil and gas exploration sector has got its “mojo” back, a new poll says.
Video: North Sea acquisitions market to stay ‘hot’, experts say at EV event
The North Sea will be a hotbed of merger and acquisition (M&A) activity if the oil price holds up, the audience heard at a bumper breakfast event in Houston today.
OGUK director ready to stoke up debate at EV breakfast event
An industry leader will look to stoke up the conversation about the UK oil and gas supply chain's ability to prosper in a “new reality” at a sell-out event during OTC week in Houston.
US Gulf set for ‘big year’ of M&A deals
The US Gulf of Mexico is in the midst of a “big year” of mergers and acquisitions, a top analyst has said.
WoodMac: Europe energy storage – 5 things to watch for in 2019
Wood Mackenzie Power and Renewables senior research analyst, Rory McCarthy notes the five major things to watch for in terms of energy storage in 2019.
Wind turbine supply chain worth over £400bn, Woodmac claim
The global wind turbine supply chain will be worth more than £400 billion over the next ten years, according to energy analysts Wood Mackenzie (Woodmac).
‘Long overdue’ recovery in global exploration, Woodmac says
After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.
Buchan area plan viable without new platform, analyst says
More oil could be pumped from the Greater Buchan Area (GBA) without the costly installation of a new platform or floating production facility, an analyst said.
Glengorm the biggest UK gas find since Culzean, Woodmac says
Chinese energy firm Cnooc's discovery at Glengorm is the largest gas find in the UK since Culzean in 2008, an analyst has said.
Wind and solar soared above coal in 2018, Woodmac data shows
Wind and solar generation soared above coal for the first time in 2018, according to analysts Wood MacKenzie (Woodmac).
UK’s decommissioning fiscal regime envy of the world
The UK's fiscal regime for decommissioning is the envy of the world, an analyst has said.
Tough task for dealmakers in ‘sluggish’ upstream market, Woodmac says
Volatile oil prices are hindering global M&A deals by creating uncertainty, widening the asset valuation gap between buyer and seller, and making companies re-think their strategies, analysts said.
Wylfa suspension will ‘diminish’ nuclear prospects in UK, says WoodMac
The suspension of the Wylfa project in Wales is a “major blow” to the UK’s future prospects for developing nuclear power, according to leading consultancy Wood Mackenzie.
Winners and losers of offshore spending revival
After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines.
North Sea industry hopes oil settles at $60-70 for longer
Oil prices settling in a sweet spot of $60-70 per barrel would give North Sea firms more confidence to kick on with investment plans, industry experts have said.
North Sea firms to sanction wave of ‘small but beautiful’ projects in 2019
Oil firms will launch more “small but beautiful” projects during another “bumper year” for the UK North Sea in 2019, an analyst said yesterday.
Expect North Sea exploration fightback in 2019, Woodmac says
A heady cocktail of beefed up budgets and fierce competition for acquisitions will create a “renaissance” for North Sea exploration this year, analysts said.
Woodmac: Is 2019 the year of LNG oversupply?
As we enter 2019, the mood in the LNG market is mixed. The big LNG buyers are back, and we are set for a record year for supply in terms of both production growth and new project FIDs. What will 2019 look like? And what could happen that will shape the market longer term?
New projects in UK and Norway not enough to halt European gas drop
Major gas projects coming online in the UK and Norway will not be enough to offset a continued drop in Europe’s supply, according to Wood Mackenzie.
Oil firms can ‘weather’ difficult industry conditions in 2019, Woodmac says
Oil and gas firms can "weather" difficult industry conditions in 2019, according to energy research firm Wood Mackenzie (Woodmac).
‘Uncontracted’ LNG demand to quadruple, say Woodmac
Uncontracted demand for liquified natural gas (LNG) is set to quadruple by 2030, according to energy research firm Wood Mackenzie (Woodmac).
Climate goals ‘out of reach’ despite energy transition, Woodmac say
Climate energy goals remain "out of reach" despite the global energy transition, according to Wood Mackenzie (Woodmac).
Deepwater costs to surge as investment peaks at £47bn, says Wood Mac
Costs for deepwater projects will surge as investment heads for a global peak, according to a leading oil and gas consultancy.
‘Corporate revolution’ needed to unlock £116bn in digitalisation savings
Digitalisation could save the oil and gas and energy industry up to £116.7billion in operational costs, according to a new report from Wood Mackenzie.