Wood Mackenzie Company News

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Marine Fuel Switch Gets Assist from Pandemic
Vessel owners and oil refiners were expected to face major upheaval because of rules that took effect on Jan. 1, 2020.
7:00 PM EST | December 16, 2020
Ineos to Add 15 Sites in BP Deal
Here is a recap of popular downstream-related articles in Rigzone from the past week.
8:00 PM EST | July 02, 2020
WoodMac Sees Potential New Wave of Cost-Cutting
A major industry shake-up akin to that of the late-1990s could be on the horizon.
8:00 PM EST | March 09, 2020
Gulf of Mexico Lease Sale 252 Saw $244.3MM in High Bids
Thirty companies participated and submitted almost $284 million in all bids for acreage in the federal waters of the Gulf of Mexico.
8:00 PM EST | March 20, 2019
LNG Import Growth Underway in India
The commissioning of India's first east coast regas terminal signals a period of rapid growth.
7:00 PM EST | March 06, 2019
Repsol Makes Gas Discovery in Indonesia
Repsol S.A. has unlocked the largest gas discovery in Indonesia in 18 years.
7:00 PM EST | February 19, 2019
Major LNG Buyers' Uncontracted Demand to Quadruple by 2030
Wood Mackenzie expects a record number of FIDs on LNG projects in 2019.
7:00 PM EST | January 20, 2019
Five LNG Trends to Watch in 2019
Wood Mackenzie predicts a mixed mood for the LNG market.
7:00 PM EST | January 09, 2019
US Gulf of Mexico On Track for Historic 2019
Activity booms, first-ever production and key sanctions are some of the factors leading to a grand year for the US Gulf of Mexico, analysts say.
7:00 PM EST | December 19, 2018
North America LNG Rebound to Continue in 2019
North America should lead an expected record year for global LNG project sanctions in 2019, predicts Wood Mackenzie.
7:00 PM EST | December 17, 2018
LNG Project Sanctions Set to Surge in 2019
Uncontracted demand by the world's seven largest LNG buyers could quadruple to 80 mtpa by 2030.
7:00 PM EST | December 13, 2018
OPEC Is Alive and Highly Relevant
OPEC has been described as alive and well and highly relevant following the announcement of its latest output cut deal.
7:00 PM EST | December 09, 2018
Cost Inflation Threatens Deepwater Recovery
Cyclical cost inflation could threaten an otherwise recovering deepwater industry, according to a new report by WoodMac.
7:00 PM EST | November 26, 2018
Digitalization Can Save Upstream Sector $75B Each Year
A new study by Wood Mackenzie shows how the US Lower 48 has led the way in utilizing technology to transform their business.
7:00 PM EST | November 11, 2018
WoodMac Says South Sudan Outlook Shaky
South Sudan's optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd.
7:00 PM EST | November 06, 2018
Move Over, Permian. Bakken's Making a Comeback.
North Dakota oil production reached a record high in July and the Bakken is primed for growth.
8:00 PM EST | September 25, 2018
Canada Shale Drillers Feel Permian Pain as Prices Collapse
The Permian Basin isn't the only oil field facing pressure from pipeline bottlenecks.
8:00 PM EST | September 19, 2018
New US LNG Projects May Feel Pinch from Latest Salvos in US-China Trade War
What could the most recent chapter in the ongoing US-China trade dispute mean for the growing US LNG export market?
8:00 PM EST | September 18, 2018
Does Private Equity Have a Future in Deepwater Gulf of Mexico?
New analysis by Wood Mackenzie takes a look at private equity in the US Gulf of Mexico, exploring operational strategies and potential risks.
8:00 PM EST | September 18, 2018
Study Suggests Pipeline Delay Worries Among Permian Producers
Oil producers in the Permian appear to be worried that key pipeline projects to boost takeaway capacity from the region might not hit their 2019 targeted start-up dates.
8:00 PM EST | September 11, 2018
Guyana Can Become Richest Corner of the Continent
Analysis from WoodMac says ExxonMobil's latest discovery offshore Guyana will help the country create the greatest value of any offshore basin.
8:00 PM EST | August 30, 2018
Industry Body Outlines Mood of UKCS Oil, Gas Sector
Oil & Gas UK talks about the mood of the UK Continental Shelf oil and gas sector.
8:00 PM EST | August 27, 2018
Report Envisions 30,000 New Offshore Brazil Jobs
Wood Mackenzie contends that Brazil's mature Campos basin oil fields could produce an extra 230,000 boepd with the right investment.
8:00 PM EST | August 27, 2018
Talos Energy Wins Discovery Award for 2017 Offshore Mexico Find
Pictured l-r are: Loren Long, Vice President Mexico, Talos Energy; Timothy Duncan, President & CEO, Talos Energy; Tom Wilker, SVP Subsurface, Wood Mackenzie; and John Parker, Executive Vice President Exploration, Talos Energy.
8:00 PM EST | August 07, 2018
Permian Decline Rate Inaccuracies Risky for Operators, Investors
A new report by Wood Mackenzie examines the risks facing operators and investors from inaccurately estimating well decline rates in the Permian.
8:00 PM EST | July 29, 2018
WoodMac: New Regulations to Help Boost Brazil's Pre-Salt Oil Production
A new report by Wood Mackenzie finds that Brazil's new local content policy can speed up the deployment of FPSO units.
8:00 PM EST | June 19, 2018
OTC2018: It's a Digital Transformation. Is the Industry Ready?
WoodMac's Preston Cody discusses how the E&P industry is faring in the digital transformation.
8:00 PM EST | May 02, 2018
Why Canada Is The Next Frontier For Shale Oil
Canada is the first country outside the United States to see large-scale development of shale resources.
7:00 PM EST | January 28, 2018
WoodMackenzie: Norway Remains Among World's Top 10 Places To Discover Oil
Norway remains among the top 10 places to find oil worldwide, consultancy firm Wood Mackenzie says.
8:00 PM EST | October 11, 2017
WoodMac: LNG Growth To Propel Oil And Gas Industry's Carbon Emissions
LNG will be the biggest source of carbon emission growth for the world's top oil and gas companies by 2025, according to a new study by Wood Mackenzie.
8:00 PM EST | September 19, 2017
Could Argentinian Politics Beat the Vaca Muerta?
Upcoming election results could jeopardize the current administration's tenure and snuff out the oil and gas industry's confidence in one of the world's richest shale basins.
8:00 PM EST | July 09, 2017
WoodMac: 2017 Is The Year To Invest In The North Sea
Low supply chain costs are making 2017 the year to invest in the North Sea, according to a new report from Wood Mackenzie.
7:00 PM EST | March 02, 2017
WoodMac: Oil Exploration Spending May Drop Further Next Year
Global spending on oil and gas exploration in 2017 could fall below this year's $40 billion, but lower costs mean profitability will increase, consultancy Wood Mackenzie said in a report on Friday.
7:00 PM EST | December 08, 2016
WoodMac: 50% of Oil Majors' Production could be Hit with Carbon Costs
Up to 50% of oil majors' production could be hit with carbon costs over the next decade, if the countries and regions that currently price carbon extend their policies to the extractives sectors.
7:00 PM EST | November 17, 2016
European Industry Says Trump Must Define Energy Policy
Europe's oil and gas industry is likely to benefit from Trump in the White House, but calls for a clear energy policy framework from the President Elect.
7:00 PM EST | November 08, 2016
Permian Panic Driving One-Quarter of Global Oil, Gas M&As
Interest in the Permian Basin heats up as operators look for new tight oil upside in the Lower 48.
8:00 PM EST | September 08, 2016
Oil Discoveries At A 70-Year Low Signal A Supply Shortfall Ahead
Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they'll probably find even less, spurring new fears about their ability to meet future demand.
8:00 PM EST | August 29, 2016
NCS Investment Shrinks on Project Delays, Cancellations
Operators seeking to cut costs defer or cancel $50 billion in oil and gas project investment on the Norwegian Continental Shelf, Wood Mackenzie finds.
8:00 PM EST | August 28, 2016
Oil M&A Is Back as Industry Shifts From Survival to Growth
Multibillion-dollar oil and gas deals are back on the table.
8:00 PM EST | August 25, 2016
Tight Gas Helping Argentina Operators Reverse Production Decline
Tight natural gas reservoirs are boosting production in Argentina's Neuquen Basin, but well performance in these reservoirs varies greatly.
8:00 PM EST | August 17, 2016
Crude Prices to Edge Up in Near Future
Crude oil prices will shift higher in the near future, says energy advisory firm FirstEnergy Capital, after dropping from over $50 per barrel in June to $42.34 per barrel at the time of writing.
8:00 PM EST | August 07, 2016
WoodMac: Most Major Conventional Oil Projects At Risk At $50 Oil Price
Most major conventional oil projects are at risk of cancellation or deferral if global prices remain at $50 a barrel, consultancy Wood Mackenzie says.
8:00 PM EST | July 12, 2016
Oil Industry to Cut $1 Trillion in Spending After Price Fall
The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to consultant Wood Mackenzie Ltd.
8:00 PM EST | June 14, 2016
Over $87B to be Spent on UK Continental Shelf Decommissioning By 2046
Over $87 billion will be spent on decommissioning activity within the UKCS over the next 30 years, says Mark McAllister, chairman of The Decommissioning Company.
8:00 PM EST | June 06, 2016
UK Oil, Gas Firms Plan Further Cost Cuts
Almost half of UK oil and gas firms are planning further cost cuts to help manage the impact of the industry downturn, according to the Bank of Scotland's report on the oil and gas industry.
8:00 PM EST | June 05, 2016
UK Oil, Gas Industry Set to Become Decommissioning Pioneer
The UK oil and gas industry is set to become a pioneer in decommissioning activity globally and has the opportunity to become a leader in this field, according to Wood Mackenzie.
8:00 PM EST | May 24, 2016
Global Oil Market Could Face 4.5M Bpd Shortfall by 2035
The global oil market could face a supply shortfall of 4.5 million barrels per day by 2035 if exploration success doesn't improve, according to a new study by Wood Mackenzie.
8:00 PM EST | April 26, 2016
Wood Mac Sees Deferrals in Global Oil, Gas Projects Reaching $500B in 2016
Deferrals in global oil and gas projects may increase to half a trillion dollars this year, up from the previous estimate of $400 billion, a Wood Mackenzie consultant says.
8:00 PM EST | March 23, 2016
Wood Mac: Producers Continue to Run Loss-making Oilfields
Less than 0.1% of global production has been halted to date even though 3.5% of global supply is currently cash negative, says Wood Mackenzie.
7:00 PM EST | February 04, 2016
Wood Mac: 2016 Promises Upstream Opportunities despite Tough Times
A new report from oil and gas consultancy Wood Group shows that 2016 promises many opportunities around the world for the upstream sector in spite of challenging times.
7:00 PM EST | January 27, 2016