Wood Mackenzie's latest global oil production analysis* indicates that 3.4 MMbbl/d of oil production is cash negative at a Brent oil price of US$35. Since the dramatic drop in prices from late 2014, there have been few halts in production – with around 100…
In contrast to 2015, upstream oil and gas deal activity is set to ramp up this year regardless of what happens to the oil price, according to Wood Mackenzie's M&A outlook for 2016. Should oil prices stay low, companies will be forced to sell assets and merge businesses: to free up capital…
The Norwegian Ministry of Petroleum and Energy has announced that 26 companies have bid for acreage in the 23rd licensing round. The round offers nearly 60 frontier exploration blocks with around half in the exciting new Arctic province of the Norwegian Southeast Barents Sea…
Verisk Analytics today announced the acquisition of Infield Systems, a leading independent provider of business intelligence, analysis, and research to the oil, gas, and associated marine industries. Infield Systems will become part of Wood Mackenzie…
Wood Mackenzie's corporate upstream research team has assessed Q3 results from the major oil and gas companies, identifying four key themes to look out in 2016. Wood Mackenzie says the latest round of earnings results offered the industry…
In a comprehensive analysis looking at the impact of cost deflation on the global upstream oil and gas sector, Wood Mackenzie concludes that while operators are seeking an average cost reduction of 20-30% on projects, supply chain savings…
On 14 September, Mexico's Finance Ministry announced the minimum acceptable bids for the shallow water development opportunities phase of Round One. Image of Round One. From CNH. Wood…
Some 140 fields could cease production on the UK Continental Shelf over the next five years, according to research by analysts Wood Mackenzie. The firm says high oil prices have enabled North Sea operators to extend field life and delay decommissioning time and time again…
In a new global gas analysis, Wood Mackenzie remarks that despite the outlook for global LNG demand looking increasingly subdued, the number of LNG projects proposed to take a final investment decision (FID) in 2015 and 2016 has not reduced significantly…
Wood Mackenzie has evaluated the competitive position of the three largest Russian oil and gas producers at US$60/bbl oil and their strategic action taken to date. In 2014, the Russian majors' share price performance was hit harder by…
The first step towards lifting sanctions on Iran’s oil production could be taken tomorrow (14 July) in a deal that would open up its territory to western nations and see the country’s oil exports double in the next six months is agreed. Image…
A deadline between western nations and Iran over the country's nuclear activities in a move which could open the country to international oil firms has once again been delayed. A deal, which would see sanctions lifted on the oil and gas rich nation…
In a new two-part study, Wood Mackenzie explores the implications of the current low oil price for upstream fiscal terms. Governments dependent on oil taxation income are wrestling with lower oil revenues for public spending and pressure from oil and gas companies for more lenient terms…
According to the latest analysis from Wood Mackenzie capital and operating costs in the UK and Norway's upstream sectors will decrease steadily this year as operators respond to lower oil prices. Wood Mackenzie projects that the biggest reductions will come in drilling costs…
US-based Verisk Analytics completed the US$2.8 billion (£1.85 billion) acquisition of UK-based Wood Mackenzie (WoodMac), the data analytics and commercial intelligence company for the energy, chemicals, metals and mining verticals. “We’re pleased to have completed the acquisition of WoodMac…
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