Wood Mackenzie

Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe

Posted on November 17, 2023November 17, 2023 by Mozambique Resources Post

European oil majors have asked a cross-Atlantic government task force to intervene in a dispute with Venture Global LNG Inc., warning that the US supplier “reneging” on contracts to supply liquefied natural gas threatens Europe’s energy security and undermines the US as a reliable supplier. In separate letters, Shell Plc and BP Plc accuse Venture Global of “misconduct” for withholding fossil-fuel cargo agreed under long-term contracts and instead opting to sell LNG on the spot…

Global Markets: South Korea’s 2018 LNG imports to hit record high over 42 mt

Posted on December 20, 2018December 20, 2018 by Mozambique Resources Post

South Korea‘s imports of liquefied natural gas (LNG) are set to reach an all-time high over 42 million tonnes in 2018 thanks to robust power generation demand, but next year’s shipments are likely to ebb on increased coal and nuclear power.

Global Industry: Digitalization Can Save Upstream Sector $75B Each Year

Posted on November 13, 2018 by Mozambique Resources Post

The global upstream oil and gas sector could save $75 billion per year through digitalization … and the U.S. Lower 48 is leading the way, according to a study released Nov. 12 by Wood Mackenzie.

Global Industry: Upstream Players Must Boost Spending

Posted on October 26, 2018 by Mozambique Resources Post

Global oil and gas development spend needs to increase by around 20 percent, to about $600 billion, to meet future demand growth and ensure companies sustain production next decade.

Global Markets: “Oil market in danger of long-term supply crunch” – WoodMac

Posted on September 26, 2018 by Mozambique Resources Post

Wood Mackenzie said in a new report that upstream development is too sparse to satisfy demand in the years ahead. A lack of spending, new FIDs, and new discoveries spell trouble.

Global Oil & Gas: Eni wins Most-Admired Explorer title

Posted on July 19, 2018 by Mozambique Resources Post

Italian oil and gas giant Eni has won Wood Mackenzie’s Most-Admired Explorer title, an accolade awarded in conjunction with Wood Mackenzie’s industry-leading annual Exploration Survey. This is the third time in a row Eni has won the award.

Global Markets: “Peak Oil Demand Expected In 2036” – Wood Mackenzie

Posted on July 18, 2018 by Mozambique Resources Post

Peak oil demand is expected to come around 2036 as electric vehicles and autonomous vehicles are expected to play an increasingly important role in the world’s transportation sector, the Financial Times reported on Monday, quoting a long-term energy outlook by Wood Mackenzie.

Markets: Global LNG markets moving away from oversupply

Posted on June 12, 2018 by Mozambique Resources Post

According to Wood Mackenzie’s latest LNG short-term trade and price outlook (Q2), fears about an oversupplied LNG market are beginning to ease as indications point towards a more modest rebalancing.

Global Oil & Gas: “Upstream oil, gas firms to focus on smaller projects, quick returns in 2018” -WoodMac

Posted on April 6, 2018 by Mozambique Resources Post

(Reuters) – About 30 upstream oil and gas projects are expected to be approved around the world this year, similar to 2017, as operators stay focused on less capital-intensive projects with quicker returns, Wood Mackenzie analysts said on Thursday. Six of the 30 projects WoodMac expects in 2018 have already been sanctioned, the consultancy said in an annual review of the upstream industry. As well as projects in Britain, Norway, Israel and the Netherlands, the…

Africa Oil & Gas: “Floating LNG could help Angola” – report

Posted on November 15, 2017 by Mozambique Resources Post

Angola’s upstream capex nosedived with the oil price, so output could follow suit from 2019, but gas offers a budgetary solution for the export-dependent country if it can offer acceptable terms.

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