Half of traditional super basins are future-fit and they have three things in common

• 21 7月 2022

Energy super basins of the future must fulfill three key criteria - abundant resources, access to low-cost renewables and hub-scale carbon capture and storage (CCS) opportunities, according to a new report by Wood Mackenzie.

OPEC+ maintains production plan

• 27 4月 2021

OPEC+ is, as expected, holding firm to its decision to increase supply, gradually and carefully, over the coming months.

All eyes on OPEC meeting as group mulls easing of production restraint

• 01 12月 2020

OPEC held its scheduled bi-annual meeting virtually on 30 November 2020. Though the group was unable to reach an agreement at that meeting, up for discussion is whether the production restraint would be eased starting 1 January 2021.

Petronas takes 10% stake in Oman’s Khazzan development

• 23 10月 2018

Malaysian NOC Petronas buys a 10% interest in Oman's Khazzan development

How the oil market would deal with the return of Iranian exports

• 16 4月 2021

The return of Iranian exports to the oil market in 2021 was a clear risk. If sanctions are lifted, how much oil could Iran produce and how quickly? What wiggle room would OPEC+ have to accommodate Iran's exports? What would be the effect on the oil price?

Middle East and North Africa upstream: 5 things to look for in 2024

• 10 1月 2024

With COP28 recently completed in the UAE, there is elevated interest in progressing diverse clean energy strategies in the MENA region.

Why Covid-19 is the ultimate energy transition stress test for refiners

• 20 7月 2020

Covid-19 is a threat to global refiners. Who will thrive? Who will merely survive? And what does this tell us about refiners’ resilience and readiness to take on the energy transition?

The EU’s new carbon tax at the border

• 31 1月 2020

The European Commission is proposing a new emissions-based import duty to prevent “carbon leakage”, but could face opposition from the US. This and more from Ed Crooks in this week's Energy Pulse.

The greening of BlackRock: What it means for energy

• 17 1月 2020

In Ed Crooks' Energy Pulse this week: BlackRock puts sustainability front and centre, China agrees to import more US energy and Microsoft aims for negative emissions.

OPEC's surprise production cut

• 06 12月 2019

The OPEC+ group's flexible approach to managing the market is good for prices in the short term, but creates uncertainty beyond 2020. Get the latest analysis of today's OPEC announcement from Ed Crooks with Ann-Louise Hittle, head of macro oils.

Saudi attack, geopolitics and oil markets

• 20 9月 2019

The attack on Saudi Arabia’s oil infrastructure took out over 5% of global oil supply and temporarily pushed up prices by 20%. What does the attack say about the security of oil’s supply chain?

How to thrive in the petrochemicals downturn

• 23 9月 2019

The petrochemicals industry has been enjoying boom conditions. But after several years of strong margin generation, storm clouds are gathering.

IMO 2020 - Countdown to 1 January 2020

• 07 6月 2019

The implementation date for the IMO’s global fuel sulphur content cap is not far away. How will these changes affect the downstream, upstream, LNG and bulks sectors? And how prepared is the industry? Our experts share their views in this webinar.

Webinar | US Solar | A look ahead across the investible landscape

• 02 5月 2023

Join our solar experts for a dive into the industry and discover what investment opportunities lie ahead with the industry expected to grow 5x over the next decade.

Upstream companies positioned to thrive in 2019

• 17 12月 2018

Price volatility. Market turbulence. Geopolitical tensions. As 2018 draws to a close the stage is already set for a fascinating 2019 in the upstream industry. In the recently published 2019 upstream and corporate outlook reports, Wood Mackenzie highlights how well prepared the industry is to adapt and thrive in tumultuous times.

Golden Pass crests second wave of US LNG

• 05 2月 2019

ExxonMobil and Qatar Petroleum’s announcement that they will proceed with development of the Golden Pass liquefied natural gas (LNG) export project at Sabine Pass, Texas, kicks off what could be a record year for LNG final investment decisions (FIDs). The go-ahead for Golden Pass LNG comes as Anadarko and its partners in Mozambique LNG (Area 1) took a major step towards FID after signing sales and purchase agreements (SPAs) with CNOOC, Tokyo Gas-Centrica and Shell. ExxonMobil (30%) and Qatar Petroleum (70%) said construction at Golden Pass will begin in the first quarter of this year, with start-up scheduled for 2024.

Petrogas and Hitec Vision snap up Total UK asset package in $635m deal

• 10 7月 2019

French Major Total has sold its stakes in 10 UK North Sea fields to Petrogas NEO, a new joint venture between Petrogas and HitecVision, for US$635 million. The asset package includes operated and non-operated assets, which will produce 25,000 barrels of oil equivalent per day (boe/d) this year. The assets hold over 30 million barrels of oil equivalent in remaining reserves.

OPEC+ aims for balance as it rolls over output curbs

• 02 7月 2019

Speaking as the OPEC and OPEC+ meetings ended in Vienna today, Ann-Louise Hittle, vice president, Macro Oils, at global natural resources consultancy Wood Mackenzie, said: “The agreement to roll over production restraint was a foregone conclusion after the green light from Russia’s president, Vladimir Putin, at the G20 meeting for continued production restraint."

Data consortiums signal the future of oil and gas

• 07 8月 2019

Wood Mackenzie believes that discovering new value requires going beyond isolated datasets. The solution lies in data consortiums – cooperative platforms where companies can safely share quality data.

Aramco takes slice of Reliance’s refining and petchems businesses

• 11 8月 2019

Saudi Aramco is to set to take a 20% stake in Reliance Industries' refining and petrochemical businesses.

Can China’s CTO and MTO industries survive the threat of massive steam cracker investment?

• 06 9月 2019

In 2019, the total ethylene capacity from CTO/MTO units reached 5.21 million tonnes per annum (Mtpa), accounting for 21% of China’s total ethylene capacity. However, CTO and MTO development has slowed due to high methanol prices and environmental controls, as well as the threat from a new wave of steam cracker investment in China.

Qatar eyes LNG top spot as it primes 64% output boost

• 26 11月 2019

On 25 November, Qatar Petroleum (QP) announced that it will boost output from Qatar LNG by 64% - from 77 million tonnes per annum (tpa) at present to 126 million tpa by 2027 – following a successful appraisal of the North Field’s onshore extension, near Ras Laffan Industrial City.

Deeper OPEC+ supply cuts sends supportive signal to markets

• 06 12月 2019

After a marathon meeting, running late into the night of 5 December, the OPEC+ group has agreed to continue its current production restraint of 1.2 million barrels per day (b/d), and will add a further 0.5 million b/d of supply cuts through to March 2020.

OPEC+ ‘no deal’ a blow to the market

• 06 3月 2020

The OPEC+ meeting broke up without a deal, what does it mean for the markets?

Oil price rout may trigger major industry shake-up

• 10 3月 2020

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.

State of the Market: webinar series

• 01 4月 2020

Industry slashes spending as price rout deepens: Can companies cope?

• 19 3月 2020

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?

Oil price rout: which supply is most at risk of shut-in?

• 27 3月 2020

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?

Collapsing demand sets the terms in the OPEC+ battle for market share

• 09 4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.

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

• 06 6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.