Wood Mackenzie – Oil & Gas 360

Nigeria leads Africa as top upstream investment destination, AEC says

January 22, 2025

(World Oil) – Nigeria ranks as Africa’s leading destination for upstream oil and gas investment in 2024, research from market intelligence firm Wood Mackenzie shows. The country accounted for three out of four Final Investment Decisions (FIDs) announced by global oil and gas majors, totaling $13.5 billion. The FIDs announced within the Nigerian market included Shell’s $122 million investment in

Oil, gas companies set to spend more in 2025

October 16, 2024

(Oil Price) – Producers of crude oil and natural gas will invest more in their business next year amid a stumbling transition away from hydrocarbons. The development may come as a surprise in the context of ever more transition commitments on the part of governments, but it simply proves one thing: while there is demand, there will be supply. Investments in

China’s wind energy sector faces significant impact due to the coronavirus, Wood Mackenzie warns

February 17, 2020

CNBC The new coronavirus outbreak could have a significant impact on the wind energy industry in China, according to research by Wood Mackenzie. In a statement Monday, the research and consultancy firm said the virus — officially known as COVID-19 — had “brought much of China’s wind turbine component production to a standstill in recent weeks.” While Hubei province —

OPEC oil production cuts likely to continue for the ‘whole of 2020’: Wood Mackenzie

January 20, 2020

CNBC OPEC is likely to continue with its oil supply cuts for the rest of 2020, a research director said Monday. “One thing which we are seeing in our numbers is that the market is still not ready to absorb the production cuts back, even for (the) whole of this year,” Sushant Gupta, who heads Wood Mackenzie’s refining and oils market team

GE Oil & Gas Alum Joins Tech Company as CCO - Oil & Gas 360

Verisk to Acquire Genscape

August 26, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Genscape will become a part of Verisk subsidiary Wood Mackenzie Verisk (stock ticker: VRSK), a data analytics provider headquartered in New Jersey, has signed a definitive agreement to acquire Genscape, a provider of real-time data for commodity markets, from Daily Mail and General Trust (DMGT) for $364 million in cash. As

The Shale Boom in the Permian Is Slowing Down - 360

Texas Shale Pioneers Struggle to Appease Investors

July 30, 2019

From Reuters Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing to buy up acreage, acquire competitors and quickly boost output in the booming shale field. Today, Diamondback (FANG.O) is the

Permian Producers May Need to Spend More or Consider Mergers

July 25, 2019

From The Houston Chronicle As the sweet spots of the booming Permian Basin are drilled, oil companies will need to either spend more money or consider mergers and acquisitions to keep up their crude production volumes, according to the energy research firm Wood Mackenzie. The conundrum is that Wall Street is punishing the stocks of public energy companies that increase

Oil & Gas 360 Feature Article Oil Prices

Wood Mackenzie Gives Lower Forecast for Brent Crude Oil for 2019

January 24, 2019

Keeps 2020 Brent as predicted earlier Wood Mackenzie put out a prediction after watching Brent oil prices, which were trading at $62 per barrel on December 7, 2018 before falling to $51 per barrel on December 21, 2018. Mixed macroeconomic data have driven much of the volatility, with political uncertainty compounding concerns of a sharper than expected economic slowdown, Wood

Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

November 30, 2018

From Houston Chronicle The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services. A new report Tuesday by research firm Wood Mackenzie highlights how the offshore sector has returned to viability through costs reductions and greater

Expect Higher Crude Oil Exports to European, Asian Markets: WoodMac

July 6, 2017

In its appearance at EIA’s annual Energy Conference last week, Wood Mackenzie gave a presentation on crude oil exports, saying that U.S. crude oil exports rose in tandem with U.S. oil production following the repeal of the U.S.’s 40-year crude oil export ban in December, 2015. Oil from North Dakota, Texas moves to users in Asia and Europe According to

Canadian Heavy Oil Prices are Falling Faster than Global Crude Benchmarks - Oil & Gas 360

Tight Oil Led by the Permian Tops a 2017 Oil Industry Revival: WoodMac

January 17, 2017

Optimism returns: WoodMac calls for $450 billion in upstream O&G project FIDs in 2017 According to Wood Mackenzie’s global upstream outlook for 2017, confidence will start to return to the oil and gas sector in 2017, with exploration and production spend set to rise by 3% to US$450 billion. The investment level is still 40% below the heady days of 2014,

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