Brazil’s PSC Round 6 Disappoints
(WoodMac, 7.Nov.2019) — Speaking after this morning’s PSC round, Juliana Miguez, from Wood Mackenzie’s Latin America upstream team, said: “Petrobras has returned to the headlines. One day after it dominated...
Guyana Must Learn To Use Its Riches
(Upstream, Gareth Chetwynd, 26.Sep.2019) — As development on Guyana’s Stabroek block continues apace, it is worth considering that the Liza development took form in an era when low oil prices...
BP Sells Alaska Business To Hilcorp In $5.6bn Deal
(WoodMac, 27.Aug.2019) — Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making...
Jethro-1 Delivers The Goods For Tullow Offshore Guyana
(WoodMac, 12.Aug.2019) — The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than...
Data Consortiums Signal The Future Of Oil And Gas
(WoodMac, 7.Aug.2019) — The energy industry has a data problem: Every major exploration and production company collects petabytes of data, but their analysis is limited to their own petabytes. Companies...
Brazil Market Reform Unlocks Investments
(WoodMac, 6.Aug.2019) — Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain,...
DomRep Launches First Oil Licensing Round
(WoodMac, 10.Jul.2019) — The Dominican Republic today launched its first licensing round, putting 14 blocks across its on- and offshore basins up for bid. The Dominican Republic’s Ministry of Energy...
Renewables Can Benefit The Upstream Business: WoodMac
(WoodMac, 12.Jun.2019) — One of the hottest topics at APPEA was how to use renewables to benefit an upstream business, rather than replace it. At APPEA, Darwin LNG operator ConocoPhillips...
Comstock Resources Takes Haynesville Lead With $2.2 Billion Covey Park deal
(WoodMac, 10.Jun.2019) — Comstock Resources today tightened its grip on the Haynesville basin with a US$2.2 billion cash-and-stock deal to buy privately-held Covey Park. Greig Aitken, director, corporate analysis, at...
Saudi Aramco And Sempra Energy Ink Largest LNG Deal For 6 Years
(WoodMac, 22.May.2019) — Sempra Energy and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA), which anticipates the negotiation...
WoodMac: Chevron Exits Bidding War For Anadarko
(WoodMac, 9.May.2019) — Chevron Corporation today announced that it would not offer a counter proposal to Occidental Petroleum's rival bid to acquire Anadarko Petroleum. Earlier this week, Anadarko said it...
What Does IMO 2020 Mean For Downstream, Upstream, LNG and Bulks Sector
(Woodmac, 7.May.2019) — Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in...
Oxy’s $8.8bn Total Deal ‘May Soothe Anadarko Shareholder Jitters’
(WoodMac, 6.May.2019) — In another bold move in its takeover battle with Chevron for Anadarko Petroleum, on 5 May said Occidental Petroleum entered into a binding agreement to sell Anadarko’s...
Majors Step Up To Bid On Argentina Offshore Acreage
(WorldOil, 17.Apr.2019) — Argentina's first national offshore licensing round was held yesterday, April 16, 2019, in Buenos Aires. Of the 38 blocks offered in an open bid round, 18 were...
WoodMac: Santos Makes Significant Gas Discovery At Corvus-2 Appraisal Well
(WoodMac, 16.Apr.2019) — Following Santos’ announcement on the confirmation of a significant gas resource at Corvus-2 appraisal well, Wood Mackenzie senior analyst Daniel Toleman commented on the results: Based on...
Permian Water Disposal Volumes To Double By 2022: Wood Mac
(Wood Mac, 12.Apr.2019) — Water disposal volumes in the Permian Basin are expected to double within the next two to three years, new analysis from Wood Mackenzie shows. As drilling...
Sanctions Put Squeeze On Venezuela’s Output: Wood Mackenzie
(Wood Mackenzie, 2.Feb.2019) — The sanctions the US government has imposed against Venezuela aim to curb the Maduro government’s access to revenue from crude export. But impact could they have...
WoodMac On CNOOC Ltd’s Strategy: Guyana, Brazil
(WoodMac, 25.Jan.2019) — CNOOC Ltd announced its strategic plan for 2019, setting a bullish tone for the rest of the Chinese national oil companies to follow. Wood Mackenzie’s senior analyst...
Guyana Oil Output Could Surpass Venezuela, Mexico: WoodMac
(JWN, Deborah Jaremko, 5.Dec.2018) — Thanks to ExxonMobil’s run of success in oil exploration offshore Guyana, the country is on a path to becoming a Latin American powerhouse, Wood Mackenzie...
Guyana: The World’s Next Offshore Oil Hotspot
(Oilprice.com, Tsvetana Paraskova, 23.Oct.2018) — With population of fewer than 750,000 people, Guyana—a neighbor of Venezuela—has always depended on commodities. Sugar, gold, shrimp, timber, bauxite, and rice account for nearly...
Let’s Use Guyana Oil Funds for Teachers
(Stabroek News, 6.Sep.2018) — Dear Editor: How could we have billions of barrels of oil in 2018 and not be able to pay our teachers a living wage? The value...
How Will Guyana Deal With Its Oil Windfall?
(CNNMoney, Talib Visram, 4.Sep.2018) — The South American country with the smallest GDP is about to burst with oil. ExxonMobil found oil off Guyana’s coast in 2015, and believes the...
Mexico’s Struggling Pemex Awaits New President’s Risky Fix
(Bloomberg, Amy Stillman, 14.Aug.2018) – By most financial measures, Mexico’s state oil company is seriously unwell. The country’s new leader is promising to revive it. But the treatment could end...
Offshore Guyana Oil and Gas Potential is “Massive”
(UPI, Daniel J. Graeber, 23.Jul.2018) – The size of a reservoir off the coast of Guyana is "massive," the CEO of Hess Corp. said Monday after a multi-million barrel revision...
Eni Hat-trick at Mackenzie’s Annual Awards
(Wood Mackenzie, 12.Jul.2018) – Italian major Eni won its third consecutive Most-Admired Explorer title, an accolade awarded in conjunction with Wood Mackenzie's industry-leading annual Exploration Survey. Eni's chief exploration officer,...
Exxon Defends Guyana Deal Amid Criticism, Seeks Quick Production
(Seeking Alpha, Carl Surran, 1.May.2018) – Exxon Mobil defends its oil production contract with Guyana after the International Monetary Fund recommended the country rewrite its tax laws to increase its...
Guyana Basin Exploration to Ramp: Wood Mackenzie Says
(Energy Analytics Institute, Ian Silverman, 28.Feb.2018) – The Liza discovery was the largest oil discovery in 2015 and has significantly de-risked the Cretaceous Tertiary play, proving the existence of a...