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.
Wood Mackenzie
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.
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.
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
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.