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UKCS GEOLOGICAL POTENTIAL REMAINS BUT SENTIMENT SHIFT IS NEEDED
The geology has not changed – just the mindset. While political rhetoric paints UK prod...
NEW REPORT REVEALS £165BN CHOICE FACING NORTH SEA FUTURE
New analysis shows the UK could meet more of its energy needs from home – which could help ...
WESTWOOD INSIGHT – THE STATE OF EXPLORATION 2025
Since 2015, the exploration industry has roughly halved the number of high impact exploration wel...
RGU REPORT ISSUES UK OFFSHORE ENERGY INDUSTRY JOBS WARNING
A major new report from Robert Gordon University has warned that the UK risks losing tens of thou...
UNLOCKING THE POTENTIAL OF FLOATING OFFSHORE WIND
Following on from our 2024 Floating Wind Survey, Westwood sought to learn if the industry view re...
TRADING CASES: TARIFF SCENARIOS FOR TAXING TIMES
Authors: Peter Martin, Ann-Louise Hittle, Massimo Di Odoardo, Robin Griffin, and Ryan Sweezey ...
RISING BUSINESS ENERGY DEMAND CREATES NEW CHALLENGES
Over 70% of businesses plan to increase focus on electrification, emissions, and energy costs ...
RIG RETIREMENTS SET TO RISE AS UTILISATION FALLS TO LOWEST LEVEL SINCE 2021
The offshore rig market recovery appears to have taken a pause, with demand tapering off and mark...
TOUGH AT THE TOP - THE THREATS TO US ENERGY DOMINANCE
Authors: Robert Clarke, Ed Crooks President Donald Trump's announcement of steep increases...
ANALYSIS: OPPORTUNITIES AND CHALLENGES IN THE GULF COAST BASIN
TGS analyzes two prolific formations in the Gulf Coast Basin, the Frio and Lower Cotton Valley ...
THE GLOBAL SANCTIONS SLUMP, GRAPPLING WITH GAS AND POTENTIAL US TAILWINDS
The oil and gas industry is cautiously emboldened heading into 2025. Many operators will target g...
US GULF DRILLSHIP FLEET HEADING INTO ROUGH WATERS
The US Gulf drillship sector is facing a lull in activity not seen since 2018. With marketed util...
DEFERRED WELL P&A COULD ADD $5.5 BILLION TO UK DECOMMISSIONING BILL
Westwood’s new Atlas Decommissioning module provides critical insight into the timing, ...
KEY WELLS TO WATCH IN 2025
High impact exploration in 2025 is expected to remain stable, with QatarEnergy being the most...
$150 BILLION IN GLOBAL UPSTREAM OPPORTUNITIES AHEAD
Upstream merger and acquisition (M&A) activity is expected to slow significantly in 2025 foll...
WHAT SHOULD WE EXPECT FOR EUROPEAN HYDROGEN IN 2025?
We began 2024 with optimism, calling it the “year for action” for the European hy...
UK AND NORWAY EXPLORATION AND PRODUCTION OUTLOOK FOR 2025
The UK and Norway oil and gas sectors experienced very different years in 2024, and these dif...
IEA: GLOBAL GAS BALANCE SET TO REMAIN FRAGILE IN 2025
While halt of Russian piped gas transit via Ukraine does not pose imminent supply risk for Europe...
HOW UPSTREAM COULD MEET THE DEMANDS OF A DELAYED ENERGY TRANSITION
Barring a radical shift in policy and investment, the world is edging towards a slow-paced transi...
OFFSHORE EPC CONTRACTING ACTIVITY TO REMAIN BUOYANT IN 2025
In 2024, engineering, procurement and construction (EPC) contracting activities related to of...
OFFSHORE DRILLING UPCYCLE CONTINUES, BUT 2025 WILL BE A YEAR OF MARKET CORREC...
2024 has been another strong year for the offshore drilling rig market with high utilisation and ...
A MIXED DRILLING OUTLOOK FOR THE AMERICAS BUT OPPORTUNITIES ABOUND
Higher oil prices in 2021 led to a healthy rebound in global drilling activity the following year...
TRUMP’S ISOLATIONISM COULD GIVE ITALY A LARGER ROLE IN LIBYA
Donald Trump’s presidential election victory has prompted speculation about what it will me...
COP29 KEY TAKEAWAYS
Progress on finance and carbon, but still much to do in Belém Simon Flowers Chairma...
GLOBAL OSV FLEET UTILISATION PROJECTED TO REACH 78% BY 2027
In view of attractive oil prices, an uptick in E&P investments and robust drilling activi...
GLOBAL ENERGY SCENARIOS 2024: THE TRANSITION IS ACCELERATING
Jon Ødegård Hansen, Lars Nitter Havro, Elliot Busby The energy transition is gain...
THE EVOLUTION OF NORTH SEA OIL AND GAS RECEIPTS
Between 2022-23 and 2027-28, North Sea oil and gas receipts are forecast to average £8.6 bi...
NEW REPORT HIGHLIGHTS THE NEED FOR HYBRID HEAT PUMP SOLUTIONS
By Kathryn Porter, Watt-Logic Today I have published a new report into the heat pumps mark...
BROKEN RETAIL PRICES CAP INCREASES AGAIN
By Kathryn Porter, Watt-Logic With the start of October, the new retail price cap for Brit...
NOD ANALYSIS OF EXPLORATION ACTIVITY OVER THE LAST 20 YEARS
A Norwegian Offshore Directorate analysis of exploration activity over the last 20 years (2004-20...
THE NORWEGIAN EMISSIONS DILEMMA
What is the real impact of curtailing production from Norway on the broader European energy lands...
UPSTREAM INVESTMENT IN AFRICA
Upstream investment in Africa: what does the future hold as new investment hotspots replace l...
SPAIN SETS SIGHTS ON DOMINATING REGIONAL HYDROGEN MARKET
Spain is an established green energy leader in Europe, with its significant wind and solar genera...
‘KNOWN UNKNOWNS’ – FUGITIVE EMISSIONS FROM THE EU AND U.K. GAS GRIDS
In their latest blog Finding Petroleum highlights an urgent issue: vast amounts of fugitive m...
HOW THE ENERGY SUPPLY CHAIN IS ADAPTING TO OFFSHORE WIND
Previous oil price downturns and shareholder expectations to reduce carbon footprints has res...
M&A MIDYEAR REPORT 2024: DEALMAKERS MINE MULTIPLE SOURCES OF VALUE
At a Glance Companies are getting adept at adapting dealmaking to the economic environment....
NAMIBIA: THE NEWEST MOST PROMISING DEEPWATER RIG DEMAND HOTSPOT
Over the past few years, the Namibian Orange Basin has emerged as an exciting new oil provinc...
INTERNATIONAL NOCS’ GROWING PRESENCE IN SUB-SAHARAN AFRICA
Asian and Middle Eastern national oil companies have doubled down on their investment and resourc...
GLOBAL OFFSHORE WIND INSTALLATIONS TO SURPASS 520 GW BY 2040
Global offshore wind projects have faced significant headwinds due to recent inflationary pressur...
WESTWOOD INSIGHT: EAST AFRICAN RUVUMA-RUFIJI GAS BASIN
According to BP’s 2024 Energy Outlook, global liquefied natural gas (LNG) traded volumes ar...
NORWAY HIGHLIGHTS NEED FOR CONTINUED EXPLORATION
According to the Norwegian Offshore Directorate's projected scenarios leading up to 2050, the...
US COMMUNITY SOLAR MARKET TO BREAK 14 GWDC OF CUMULATIVE CAPACITY BY 2029
7.3 gigawatts direct current (GWdc) of total new community solar installations are expected to co...
NORWAY STATE OF EXPLORATION 2014-2023
The Norway State of Exploration report analyses exploration activity and performance of wells tha...
THE WORLD'S GROWING NEED FOR ELECTRICITY
Global electricity demand is set to rise strongly as its role in energy systems expands ...
BIDEN EXIT SHAKES UP US PRESIDENTIAL RACE
The election in November will have significant consequences for US energy. Uncertainty is already...
RESERVES REPLACEMENT...HOW ARE SUPERMAJORS DOING?
How are supermajors replacing reserves? The combined proved reserves for the five supermajors ...
SAUDI ARAMCO JACKUP SUSPENSIONS AND THE STORY SO FAR
This article was originally published in Offshore Engineer on 25 June 2024 and updated ...
CCUS: THE US$196 BILLION INVESTMENT OPPORTUNITY
Exploring the ten-year forecast for carbon capture and storage capacity build-out and investment ...
RESOLVING CO-LOCATION CONFLICTS BETWEEN OFFSHORE WIND, OIL & GAS, AND CARBON ...
On the 3 May 2024, the North Sea Transition Authority (NSTA) offered 31 licences in the 3rd T...
MORE REALISM IN FLOATING WIND, AS UK SET TO MISS 2030 TARGET BY 90%
A look at the current status of global floating offshore wind targets and key takeaways from West...
HIGH IMPACT EXPLORATION DISCOVERY SIZE DECLINES AND FINDING COSTS INCREASE
High Impact Exploration Has Seen Average Discovery Sizes Decline Year On Year From Nearly 500mmbo...
FLARING AND VENTING FROM UK ONSHORE OIL SITES 2016-2023
By David Bamford The recent history of flaring and methane emissions onshore U.K. is a...
INSIGHT: UNLOCKING CCS POTENTIAL IN THE BLACK SEA REGION
Ole B. Rygg, PhD, Group Managing Director Wells at ABL Group The Black Sea region faces si...
RYSTAD ANALYSIS: OIL DEMAND TO GROW IN THE MID-TERM
Oil demand will rise further in the medium term, according to Rystad Energy research and modeling...
CAN OFFSHORE WIND MAKE THE SHIFT FROM PORTFOLIO GROWTH TO VALUE CREATION?
The poor financial performance of several offshore wind companies in recent months has been n...
THE COST OF INVESTING IN THE ENERGY TRANSITION IN A HIGH INTEREST-RATE ERA
The ‘zero era’ for interest rates has come to an end. In the past two years, rate...
ROCK PHYSICS FOR CCS WORKFLOWS: USES AND PITFALLS
WORKING WITH 4D SEISMIC AND INVERSION Introduction Rock physics has its origins in the 1980...
ROCK PHYSICS FOR CCS WORKFLOWS: USES AND PITFALLS
PART 1: ROCK CHARACTERISATION INTRODUCTION Rock physics has its origins in the 1980s with t...
WHY UNDERSTANDING YOUR SEDIMENTOLOGY IS KEY FOR CCS
Understanding reservoirs, whether they contain water, hydrocarbons or carbon dioxide (CO2), is vi...
UK AND NORWAY EXPLORATION AND PRODUCTION OUTLOOK FOR 2024
2023 was a year of recovery in the wake of the Ukraine conflict and subsequent impact on ener...
MAGNETIC DATA: AN ESSENTIAL TOOL FOR THE EXPLORATION OF CRITICAL MINERALS IN ...
With the ever-increasing demand for access to critical minerals vital to support the global energ...
AFRICA AND LATIN AMERICA SET TO LEAD HIGH-IMPACT WELL DRILLING IN 2024
The upstream industry hopes 2024 can be a bounce-back year for high-impact oil and gas drilling a...
SIX THEMES IN 2024 THAT WILL SHAPE THE HYDROGEN AND CCUS INDUSTRIES IN NORTHW...
Despite leadership in its hydrogen strategies and goals, the European low-carbon hydrogen and car...
AFTER OFFSHORE WIND’S YEAR OF TACTICAL RETREATS, WHO WILL SEIZE THE INITIATIV...
Westwood Insight Last year, the narrative of offshore wind shifted once more. After a deca...
INDONESIA - COMPANY LANDSCAPE
Robert Chambers In this article focusing on Indonesia, Robert Chambers takes a look at the...
UNION JACK OIL ACHIEVES US$18,000,000 NET REVENUES AT WRESSLE
Union Jack Oil, a UK focused onshore hydrocarbon production, development and exploration company,...
TACKLING THE OIL AND GAS INDUSTRY'S METHANE CHALLENGE
Methane is responsible for almost a third of the emissions-induced increase in global temperature...
RECORD YEAR IN GLOBAL OFFSHORE WIND
Offshore wind specialist TGS - 4C Offshore, a part of TGS, the leading global provider of energy ...
SUBSURFACE ASSESSMENT: THE CRITICAL DIFFERENCE BETWEEN EVIDENCE AND ASSUMPTIONS
The foundation of any assessment rests on two elements: quality evidence, and a quality under...
AFRICA WILL OVERTAKE EUROPE IN GEOTHERMAL CAPACITY BY 2030
Africa’s geothermal sector will attract at least $35 billion in investments by 2050, showin...
OPERATORS OFFERING 15-YEAR RIG DEALS AS AVAILABILITY DRIES UP
As offshore drilling rig utilisation increases and availability continues to tighten, Westwood ha...
EIA PROJECTIONS INDICATE GLOBAL ENERGY CONSUMPTION INCREASES THROUGH 2050
The U.S. Energy Information Administration (EIA) projects that global energy consumption and asso...
LIQUIDS AND GAS PRODUCTION SET TO REACH 173MMBOEPD BY 2030
Westwood Global Energy Group, the specialist market research and consultancy firm, has reported t...
OPEC SEES GLOBAL OIL DEMAND AT 116 MB/D IN 2045
The 2023 OPEC World Oil Outlook (WOO) was launched today at the King Abdullah Petroleum Studies a...
RYSTAD: NEW NATURAL GAS PRODUCTION IS NEEDED TO MEET DEMAND
Global gas demand is projected to rise in the next decade, thus influencing a 12.5% surge in prod...
WESTWOOD INSIGHT: ROSEBANK DEVELOPMENT FINALLY SANCTIONED
Equinor and partner Ithaca Energy have taken the final investment decision for Phase 1 of the Ros...
HYDROGEN: FIVE MARKET DEVELOPMENTS UTILITIES NEED TO WATCH
Murray Douglas, Head of Hydrogen Research, Wood Mackenzie As momentum continues to build, a ra...
HOW THE CBAM WILL CHANGE THE WORLD
Elena Belletti, Global Head of Carbon Research, Wood Mackenzie Nuomin Han, Head of Carbon Market...
CHINA’S SOLAR CAPACITY SURGES; EXPECTED TO TOP 1 TW BY 2026
China’s solar sector is set to break records in the coming years . When installed capacity ...
NIGERIA’S OIL AND GAS SECTOR SET TO DRILL 140 NEW WELLS DRILLED YEAR-ON-YEAR ...
Nigeria, traditionally Africa’s largest oil producer, has seen its oil and gas (O&G) pr...
OIL AND GAS EXPLORATION SPENDING SET TO RECOVER FROM HISTORIC LOWS
Exploration spend (excluding appraisal) will recover from historic lows to average US$22 billion ...
UK'S 1ST CARBON STORAGE ROUND RESULTS ANALYSED
The UK's first carbon storage licence round results were announced recently, without naming a...
THE GROWING SIGNIFICANCE OF CPPAS IN THE OFFSHORE WIND SECTOR
This insight is excerpted from the executive summary of the latest in a series of thematic report...
HARSH ENVIRONMENT SEMISUB MARKET SELLS OUT; DAYRATES APPROACH $500K
Teresa Wilkie, Research Director – RigLogix In just six months, committed utilisatio...
DEMAND FOR OFFSHORE WIND TOWERS TO SURPASS MANUFACTURING CAPACITY BY 2028
Offshore wind developments are a critical component of Europe’s energy transition plans, bu...
PRESERVATION OF LIGHT-END HYDROCARBONS IN CORE SAMPLES: A COMPREHENSIVE ANALYSIS
Investigating LHC Preservation in Core Samples In the field of reservoir geochemistry, the...
LATIN AMERICA REMAINS A KEY FOCUS OF CHINA’S BELT AND ROAD INITIATIVE
China’s trade with Latin America and the Caribbean reached a record $495bn in 2022 ...
ENERGY TRANSITION THEMES IN THE UK AND NORWAY
In recent years, the energy trilemma in the UK and Norway – that is security, affordability...
A REALISTIC PATH TO NET-ZERO EMISSIONS FOR COMMERCIAL AVIATION
The quest to decarbonize the industry by 2050 will sharply increase costs and depress air traffic...
ASIA PACIFIC OFFSHORE RIG SUPPLY SHRINKING AND DAYRATES SURGING
Since Westwood’s last Asia Pacific (APAC) offshore drilling rig insight, the market &n...
DRILLING DOWN INTO THE UAE’S EXPLORATION RENAISSANCE
ADNOC has aggressive decarbonisation targets under a strategy that includes, somewhat counterintu...
GCC ONSHORE DRILLING RIG DEMAND FORECAST FOR 25% GROWTH BY 2027
Westwood has released the MENA Onshore Drilling Rig Market Forecast, the first in a series of new...
BUNTER SANDSTONE STORAGE COMPLEX THEMATIC RESEARCH
Mike Curtis, Managing Director, CASP The Lower to Middle Triassic Bunter Sandstone Formati...
WESTWOOD INSIGHT – ‘WIDER BENEFIT’ IN OFFSHORE WIND DECISION-MAKING
This insight is excerpted from the executive summary of the second in a series of thematic report...
THE FUTURE OF CCUS: FIVE KEY QUESTIONS
Carbon capture capacity could increase more than sevenfold in the next decade – but there a...
HOW TECH CAN UNLOCK GEOTHERMAL ENERGY IN EMERGING MARKETS
Emerging markets have ambitious plans to scale up geothermal capacity New technologies could...
AFRICAN GAS SUPPLIERS LOOK TO MEET EUROPE’S FUTURE LNG DEMAND
The EU is looking to sign gas deals as a bloc in bid to limit imports from Russia Establishe...
WHALES PROVOKE EMOTIONAL RESPONSES TO OFFSHORE WIND
There is no evidence that wind development is causing whale deaths in the US. It has become a pol...
WESTWOOD INSIGHT – ASIAN TURBINE OEMS: TO BE OR NOT TO BE?
The importance of Asian turbine OEMs is on the rise and much of this can be attributed to the rap...
M&A BOOM IN SE ASIA TO SEE $5 BILLION OF UPSTREAM ASSETS FOR SALE
Southeast Asia will be a hotbed for upstream mergers and acquisitions (M&A) in the next two y...
BUYER BEWARE WHEN IT COMES TO EXPLORATION FARM-OUTS
Since 2017 high impact (HI) exploration wells drilled outside USA and Canada, where equity was fa...
EV SALES COLLAPSE AS SUBSIDIES AND TAX CREDITS COME TO AN ABRUPT HALT
The global electric vehicle (EV) market is reeling from one of the most dramatic collapses in mon...
UK AND NORWAY EXPLORATION AND PRODUCTION OUTLOOK FOR 2023
Emma Cruickshank Head of NW Europe, Westwood Global Energy 2022 was a turbulent year for ...
WESTWOOD INSIGHT: SUPERMAJOR CASHFLOW AND THE CAPEX CONUNDRUM
The five supermajor oil companies have become incredibly efficient in generating cash from oil an...
WESTWOOD INSIGHT – PACIFIC WIND: CALIFORNIA DREAMING?
In December 2022 California held its first offshore wind leasing round – Pacific Wind. This...
ENERGY SERVICES SECTOR SET TO GROW TO $1 TRILLION IN 2025
Rystad Energy expects the global market for oil and gas contractors to rise to a peak of $1 trill...
BP ENERGY OUTLOOK 2023
This year’s bp Energy Outlook explores the key trends and uncertainties surrounding the...
GLOBAL MARKETED OFFSHORE RIG UTILISATION TO AVERAGE 95% IN 2023
Rig activity stood out in several regions in 2022 and there is no reason to expect anything diffe...
WESTWOOD INSIGHT: SIX KEY OFFSHORE WIND THEMES TO WATCH IN 2023
The offshore wind sector witnessed another year of high growth despite global financial uncertain...
NORWAY TO EARN OVER US$200 BILLION FROM O&G SECTOR IN 2023
Supporting European energy crisis means huge tax revenues for the continent’s largest oil a...
2022 HIGH IMPACT EXPLORATION DRILLING STABLE WITH IMPROVED PERFORMANCE
In a tumultuous year of change in the world, high impact drilling in 2022 remained at a similar l...
ASIA: YEAR IN REVIEW 2022
Regional rollback of pandemic restrictions fuelled growth in early 2022 External demand rema...
RECORD LEVELS OF FPS THROUGHPUT CAPACITY TO BE SANCTIONED
As we enter the final month of 2022, a review of the floating production system (FPS) market reve...
THE CHANGING LANDSCAPE OF OFFSHORE WIND SUBSIDIES
This insight is excerpted from the executive summary in the first of a series of thematic reports...
WESTWOOD INSIGHT – INTOG: RIGHT IDEA, WRONG PROCESS?
On the 18th of November the competitive leasing period for the INTOG offshore wind process came t...
GLOBAL DEEPWATER PRODUCTION TO INCREASE 60%
Fraser McKay, Vice President, Head of Upstream Analysis Angus Rodger, Research Director, Asia ...
NORTH SEA SEMISUB FUNDAMENTALS IMPROVING BUT MORE RIGS LEAVING REGION
Westwood Insight Teresa Wilkie Utilisation of North Sea semisubmersibles (semis) as wel...
IS OFFSHORE WIND DEVELOPMENT IN MAINLAND CHINA SUSTAINABLE WITHOUT SUBSIDY?
Mainland China’s offshore wind market experienced phenomenal capacity growth in 2021, addin...
WHAT DOES THE GLOBAL ENERGY CRISIS MEAN FOR THE ENERGY TRANSITION?
The global energy crisis has been brewing since the last quarter of 2021, caused by a mix of fact...
FINLAND, DENMARK AND SWEDEN LEADING ON THE GREEN REVOLUTION
Long considered pioneers in renewables, the Nordic region is preparing to further grow its renewa...
EIA: EASTERN MEDITERRANEAN REGIONAL ANALYSIS BRIEF
Eastern Mediterranean in context Natural gas production grew significantly in the Eastern M...
HEALTHY DEMAND AND PREMIUM DAYRATES FOR LOW-EMISSION RIGS TO 2026
The energy crisis that has arisen during 2022 and the mounting importance of energy security has ...
ENERGY CRISIS: THE BEGINNING OF THE END FOR GAS-FIRED POWER IN EUROPE
Carlos Torres Diaz, Head of Power, Rystad Energy Gas-fired power generation, which is currentl...
ONSHORE O&G PIPELINE CAPEX TO TOTAL $369 BILLION 2022-2028 AS WORLD CRIES OUT...
Initial findings from Westwood Global Energy’s upcoming onshore pipeline market forecast, i...
HOW WILL OIL AND GAS COMPANIES GET TO SCOPE 3 NET ZERO?
Only ten major oil and gas companies have set Scope 3 net zero ambitions – so far three bro...
CAN NORWAY MOVE FROM OIL AND GAS SUPPLIER OF CHOICE TO ENERGY SUPER BASIN?
Neivan Boroujerdi, Director, Research, Upstream Oil and Gas Fraser McKay, Vice President, Head o...
EUROPE’S RENEWABLE ENERGY SUPPLY CHAIN UNDER THREAT
Record-breaking electricity prices across Europe are damaging the continent’s attempts to b...
WESTWOOD INSIGHT: THE NEED FOR COLLABORATION IN NEW ENERGIES PROJECTS
Net Zero targets and emission reduction initiatives in Northwest Europe (NWE) have created huge o...
BANKS ASSESS THE IMPACT OF CLIMATE COMMITMENTS
Lenders can still finance new oil and gas development, but emissions goals mean the balance of th...
FULL STEAM AHEAD: EUROPE TO SPEND $7.4 BILLION ON GEOTHERMAL HEATING
The European geothermal heating market, at one time dominated by only a handful of countries, is ...
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD?
Gas and LNG have an important role to play in realising a 1.5-degree scenario by 2050 – but...
EU REVENUE CAP MAY END UP CAPPING EUROPE’S RENEWABLE ENERGY AMBITIONS
The European Union’s emergency measures to tackle the region’s energy crisis may fall...
EIA EXPECTS HIGH PRICES FOR NATURAL GAS THIS WINTER
The U.S. Energy Information Administration (EIA) expects higher-than-average natural gas prices g...
SOCIAL MEDIA: TOP 10 MOST MENTIONED OIL & GAS COMPANIES IN 1H, 2020
Analysis by GlobalData Energy of social media posts for the first half of 2022 revealed the Top 1...
LNG: SEISMIC SHIFTS AS RUSSIA/UKRAINE CONFLICT MAKES WAVES
LNG is plugging the Russian gas supply gap. Prices are volatile; buyers are rushing to secure lon...
WESTWOOD INSIGHT: MAINLAND CHINA ADVANCES FLOATING WIND CAPACITY
About a year ago in the second quarter of 2021, Mainland China became the world’s largest o...
GLOBAL ONSHORE RIG DEMAND FORECAST FOR 24% GROWTH BY 2026
The outlook for onshore rig demand is improving with elevated commodity prices spurring increased...
GLOBAL LNG INVESTMENTS SET TO PEAK AT $42 BILLION IN 2024
As the global energy crisis deepens and countries scramble to secure reliable energy sources, inv...
RUSSIAN CRUDE OUTPUT REBOUNDS STRONGLY, BUT HARD TIMES LIE AHEAD
Russia has so far demonstrated high resilience to the unprecedented pressure imposed by Europe an...
HIGH-IMPACT WELL ACTIVITY SET TO REBOUND THIS YEAR AFTER 2021 SLUMP
Drilling of high-impact oil and gas prospects is set to rebound this year after a disappointing 2...
US SHALE HEDGING LOSSES COULD TOP $10 BILLION THIS YEAR
US shale oil producers are in line to suffer more than $10 billion in derivative hedging losses t...
BIG OIL SET TO CASH IN ON THE TRILLION-DOLLAR OFFSHORE WIND PRIZE
Akif Chaudhry, Principal Analyst, Corporate Research No longer in its infancy, offshore wi...
WESTWOOD INSIGHT: FLEXIBILITY IS KEY IN A ZERO-CARBON ENERGY WORLD
As the oil and gas sector’s biggest markets are set to shrink over the long term, because o...
WESTWOOD INSIGHT – UK CFD AUCTION: 7 GW SUPPORTED, BUT PRICE DROP SLOWS
The UK’s Contracts for Difference (CfD) scheme has played a key role in developing the coun...
ALBERTA, ON TRACK TO BECOME RENEWABLES LEADER
The Canadian province of Alberta, home of the country’s oil and gas sector for decades, is ...
HIGH IMPACT EXPLORATION SHOWS SIGNS OF RECOVERY
Eight of the wells tested frontier plays, with significant basin-opening discoveries at Venus and...
ADDRESSING THE HIGH REAL COST OF RENEWABLE GENERATION
By Kathryn Porter, Watt-Logic Over the past few months we have been inundated with claims ...
E&P'S UNDERWHELMING FLARING & EMISSIONS REPORTING AND PLANNING
David Bamford, Director at Future Energy Partners/Publishing This is about a study into flarin...
NG ESO EXPECTS TO RELY ON INTERCONNECTORS THIS WINTER: THIS LOOKS LIKE WISHFU...
By Kathryn Porter, Watt-Logic National Grid ESO has published its early view of the W...
BEIS SELECT COMMITTEE SEEKS RETAIL ENERGY MARKET REFORM
By Kathryn Porter, Watt-Logic Following on from my previous post describing the BEIS Selec...
EU TAXONOMY WILL LEAD TO NEW NUCLEAR PROJECTS AND MORE EXPENSIVE GAS
The impact of the new EU taxonomy – the system that classifies which investments are sustai...
CAPACITY MARKET NOTICES IN SUMMER ARE A WAKE-UP CALL FOR THE WINTER
By Kathryn Porter, Watt-Logic On Monday 18 July, National Grid ESO issued two Capacity Mar...
CONTRACTORS IN BUOYANT MOOD AS FIVE-YEAR OFFSHORE EPC SPEND TO TOTAL $276 BIL...
Mark Adeosun, Manager – Offshore Energy Services, Westwood Global Energy A review of...
EUROPE’S POWER PAIN ARRIVES EARLIER THAN EXPECTED
Europe is heading into a predicted power crunch earlier than expected despite recent moves to cur...
UPSTREAM M&A FALLS TO $12 BILLION IN A VOLATILE MARKET
Enverus Intelligence Research (EIR), a subsidiary of Enverus, the leading energy data analytics a...
RUSSIA COULD LOSE $85 BILLION IN TAX INCOME OVER URALS CRUDE PRICE DISCOUNTS
Russia’s government could lose as much as $85 billion in oil and gas tax income this year d...
APAC JACKUP UTILISATION RAMPS UP, BUT MAYBE NOT FOR THE RIGHT REASONS
Rig activity in the Asia Pacific (APAC) region, which comprises Southeast Asia and Australia, has...
WESTWOOD GLOBAL INSIGHT: GLOBAL LAND RIGS 2Q 2022 REVIEW
As we reach the second half of 2022 oil and gas (O&G) prices remain at high levels. Russia&rs...
WESTWOOD INSIGHT – WILL ONSHORE PIPELINE DEMAND TAKE OFF WITH ROCKETING OIL P...
Onshore pipeline installations have dropped dramatically in recent years, with the industry badly...
GLOBAL OFFSHORE WIND CAPITAL EXPENDITURE TO MORE THAN DOUBLE IN 2030
Installations and investments in the global offshore wind industry are set to surge this decade a...
WESTWOOD INSIGHT: NEAR 15GW OF FLOATING WIND CAPACITY EXPECTED ONLINE BY 2030
The global floating wind market is a rapidly developing one with a very strong portfolio of p...
METHANE EMISSIONS - MEASUREMENT CHANGES EVERYTHING!
David Bamford Director at Future Energy Partners/Publishing This really useful graphi...
WESTWOOD INSIGHT: NORWAY STATE OF EXPLORATION 2012-2021
Exploration activity over the last decade has been impacted by two major oil price crashes and a ...
SSE’S RESULTS SUGGEST IT IS ON THE RIGHT TRACK
By Julian Singer, GreenBarrel On 25 May Scottish and Southern Electricity (SSE) reported preli...
US GASOLINE PRICES HIT RECORD HIGHS
Refining capacity constraints, OPEC+ strategy and investor demands have driven up fuel prices wor...
GLOBAL ACTIVE OSV FLEET BOOSTED BY SIGNIFICANT REACTIVATIONS
Higher oil prices in the first half of 2022 and its impact on oil market fundamentals is already ...
CORE US BASIN’S OIL PRODUCTION GROWTH TO OUTPACE RIVALS THIS YEAR AND NEXT
Permian oil production growth is set to outpace OPEC heavyweight Iraq this year and next as deman...
WESTWOOD INSIGHT – THE STATE OF EXPLORATION 2022
Oil and gas exploration in 2021 was remarkably resilient despite the COVID-19 pandemic and accele...
WESTWOOD INSIGHT: SAUDI ARAMCO SAVES THE DAY FOR THE JACKUP FLEET
Saudi Aramco’s initial push to nearly double its jackup fleet by the end of 2024 will resul...
REPOWEREU: EUROPE’S BIG BUDGET AND BOLD ENERGY PLAN MAY FALL SHORT OF OBJECTIVES
The European Union’s REPowerEU seeks to reduce the European Union’s dependency on Rus...
PERMIAN DELAWARE OUTPUT TO HIT RECORD IN 2022
Total hydrocarbon production in the Permian Delaware Basin, the top-producing play in the Permian...
WESTWOOD INSIGHT: OFFSHORE RIG UTILISATION UP TO 18% HIGHER THAN TYPICALLY RE...
Teresa Wilkie, Research Director of RigLogix Utilisation is one of the key barometers on t...
GAS STARVED EUROPE LOOKS TO AFRICA FOR NEW SUPPLIES
Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) ...
WESTWOOD INSIGHT – ASIA PACIFIC SET FOR SUBSTANTIAL 123% GROWTH IN OFFSHORE W...
Mainland China grabbed the headlines in 2021 after expanding its installed capacity base by an en...
LNG SUPPLY CRISIS WILL MAKE LANDFALL IN WINTER 2022
A liquified natural gas (LNG) crisis is brewing for European countries dealing with energy insecu...
VIDEO: 1ST SUBSURFACE HIGHLIGHTS SÃO TOMÉ & PRÍNCIPE'S LONG AWAITED WELL
Jaca-1 is the first well to be drilled of São Tomé & Príncipe. The well ...
BLOCKBUSTER YEAR FOR PUBLIC E&PS AS PROFITS SET TO SOAR TO $834 BILLION IN 2022
Public exploration and production (E&P) companies are on track to shatter previous record pro...
PEAK REVENUE: USD 2.5 TRILLION IN CASH TO FLOW FROM OIL AND GAS SECTOR TO GOV...
Sustained high commodity prices and increasing oil and gas supply are set to push upstream sector...
WESTWOOD INSIGHT – KEY OFFSHORE THEMES FROM 1Q 2022
Westwood Global Energy Group has released its latest tranche of comprehensive quarterly offshore ...
GLOBAL INVESTMENT IN LOW-CARBON ENERGY TRANSITION HIT $755 BILLION IN 2021
BloombergNEF’s annual investment report records a 27% rise from 2020 to 2021, with almost h...
OFFSHORE WIND CAPACITY ADDITIONS IN EUROPE TO BREAK RECORDS IN 2022
New offshore wind capacity additions in Europe are poised to hit a record high this year, topping...
PERMIAN DRILLING PERMITS HIT ALL-TIME MONTHLY HIGH IN MARCH
Horizontal drilling permits for new wells in the Permian Basin hit an all-time high in March,...
WHAT SHOULD BE DONE IF RUSSIA CUTS ITS GAS SUPPLY?
By Julian Singer, Green Barrel Europe, including the UK, Norway and other non-EU countries, im...
WAR IN UKRAINE COULD WIPE OUT 1 MILLION BPD OF REGIONAL OIL DEMAND
War in Ukraine could result in as much as 1 million barrels per day (bpd) of oil demand being rem...
OIL AT $100 COULD TRIGGER AN ADDITIONAL 2.2 MILLION BPD OF US TIGHT OIL OUTPU...
Up to 2.2 million barrels per day (bpd) of US tight oil could be unleashed in the event of a supe...
OIL, GAS AND NUCLEAR: THE GOOD, THE BAD AND THE UGLY
Westwood Global Energy Transition Insight Some things are certain in the quest for a low-c...
THE COMING CARBON CAPTURE AND STORAGE BOOM – WE HAVE LIFT OFF
Policy and carbon pricing are critical to incentivising investment Simon Flowers Chairman...
ESGIAN’S TOP 5 EXPECTATIONS FOR THE OCEAN INDUSTRIES IN 2022
Graeme Johannessen, Esgian What does the new year hold for offshore wind, shipping, drilli...
UPSTREAM: SHORT-TERM SPEND AND LONG-TERM TREND
Upstream capital requirements depend on expected demand and achievable capital efficiency ...
200% UPLIFT IN OFFSHORE INVESTMENT ENCOURAGING FOR THE DRILLING MARKET
Westwood Insight – RigLogix Advanced: Launch of the Global Offshore Rig Market Report ...
WESTWOOD INSIGHT: SIX KEY OFFSHORE WIND THEMES TO WATCH IN 2022
The offshore wind sector had another record-breaking year in 2021. Some 18.6 GW of capacity w...
KEY THINGS TO WATCH IN THE EUROPEAN GAS MARKET FOR 2022
Risk of a cold winter, uncertainty around pipeline imports and low gas inventories have set the s...
GLOBAL OIL AND GAS INVESTMENTS TO HIT $628 BILLION IN 2022
Global oil and gas investments will expand by $26 billion this year as the industry continues its...
EIA EXPECTS ANNUAL U.S. CRUDE OIL PRODUCTION TO SURPASS PRE-PANDEMIC LEVELS I...
The U.S. Energy Information Administration (EIA) forecasts that U.S. oil production will average ...
FPSO CONTRACTS SURGED TO PRE-COVID LEVELS IN 2021
The market for floating production, storage, and offloading (FPSO) units almost brushed off the p...
HOW INSTITUTIONAL INVESTORS SEE THE FUTURE OF OIL AND GAS
By Maurice Berns, Rebecca Fitz, Lars Holm, Jamie Webster, and Betsy Winnike - Boston Consult...
2021 GLOBAL OIL AND GAS DISCOVERIES PROJECTED TO SINK TO LOWEST LEVEL IN 75 Y...
Global oil and gas discoveries in 2021 are on track to hit their lowest full-year level in 75 yea...
ESG TRENDS 2021: RISE OF GREEN FINANCE
Green bond issuance is expected to reach an all-time high of $500bn this year Demand for...
BACK TO THE FUTURE: THE HORIZONS YEAR IN REVIEW
COP26 may not have ended with a bang, but the series of announcements made at the global climate ...
ENERGY TRANSITION - FRAMING A BUSINESS CASE FOR HYDROGEN IN NORTHWEST EUROPE
Hydrogen has both enormous potential but also an uncertain future. As we noted earlier this y...
BIDEN ADMINISTRATION STRUGGLES TO GET A GRIP ON FUEL PRICES
Rising prices at the pump have become a political problem for President Biden, and nothing he is ...
AS FALLING COSTS MAKE NEW OIL CHEAPER TO PRODUCE, CLIMATE POLICIES MAY FAIL U...
Rystad Energy’s annual cost of supply analysis has revealed that costs within the upst...
WHAT DOES THE FUTURE HOLD FOR ISLAMIC FINANCE?
Islamic finance industry is tipped to grow by 10-12% over 2021 and 2022 Sharia-compliant...
ESGIAN: RIG ANALYTICS WEEKLY RIG ROUND-UP
Hans Jacob Bassoe, Esgian BP has now officially declared the two-year option on its contra...
TRANSACTION ANALYSIS – MAERSK AND NOBLE MERGER
By Hans Jacob Bassoe & Teresa Wilkie, Esgian On conclusion of the transaction, the new...
TRADE BECOMES A NEW TACTIC FOR CURBING EMISSIONS
The US and EU have agreed to draw up the world’s first carbon-based trade arrangement, cove...
OFFSHORE DRILLERS START RESUSCITATING IDLE DRILLSHIPS
Teresa Wilkie, Esgian Offshore drilling rig reactivations have begun as utilisation and da...
FLARING & GHG EMISSIONS REPORTING BY 6 EUROPEAN MAJORS AND 7 E&PS
David Bamford, Future Energy Partners Ltd There is increasing suggestion that ESG performa...
BORIS JOHNSON’S RENEWABLES FANTASIES ARE A NATIONAL SECURITY PROBLEM
Dr John Constable, GWPF Energy Editor There is a clear danger that the growing reliance on int...
EIA PROJECTS INCREASES IN GLOBAL ENERGY CONSUMPTION AND EMISSIONS THROUGH 2050
The U.S. Energy Information Administration (EIA) projects that, absent significant changes in pol...
GLOBAL OFFSHORE WIND PROJECT PIPELINE EXCEEDS 400 GIGAWATTS
New research by RenewableUK’s Project Intelligence team shows that the total pipeline of of...
RECORD YEAR OF OVER £900 MILLION INVESTMENT IN UK OFFSHORE WIND MANUFACTURING
Analysis published today by RenewableUK shows that major investment announcements totalling over ...
SEISMIC VESSEL UTILIZATION RECOVERS TO PRE-COVID-19 LEVEL
The Covid-19 pandemic has been devastating for the seismic industry for several quarters, keeping...
GLOBAL FLOATING WIND PIPELINE REACHES 54 GIGAWATTS - WITH UK LEADING THE WORLD
Research by RenewableUK into the total size of the pipeline of floating offshore wind projects wo...
WESTWOOD INSIGHT: GLOBAL LAND RIGS DEMAND ON A PATH TO 30% INCREASE BY 2025
Demand for Land Rigs expected to be c. 30% higher in 2025, from the lows of 2020, driven primaril...
HOW CAN EMERGING MARKETS CAPITALISE ON GEOTHERMAL ENERGY’S POTENTIAL?
Various countries are turning towards geothermal energy Kenya hopes to double capa...
ONSHORE PIPELINE PROJECT COSTS ARE SET TO INCREASE BY 4%-6% GLOBALLY BY THE E...
The costs associated with onshore pipeline projects are likely to increase by between 4% and 6% g...
CAN THE US OFFSHORE WIND INDUSTRY REACH BIDEN’S 30 GW TARGET?
Lucas Stavole, Senior Analyst – North America Wind, Wood Mackenzie State-level manda...
WORLD’S RECOVERABLE OIL NOW SEEN 9% SLIMMER
Every year and following the publication of the BP Statistical Review, Rystad Energy releases its...
ALGERIA: CALLS FOR ‘SEPARATISM’ AND ‘AUTONOMY’ ARE EXTREMELY DANGEROUS SIGNALS
Deadly forest fires - especially in the eastern Khenchela region - and the growing water shortage...
EXPECTED SURGE IN FPSO AWARDS IN 2021 AND 2022 IS SET TO DOUBLE FABRICATORS’ ...
Τhe FPSO market is booming this year, with more contracts awarded in the second quarter of 20...
NEW INDEX HIGHLIGHTS THE NEED FOR SHARED RESPONSIBILITY TO END GAS FLARING
Photo: Ed Kashi/World Bank Gas flaring, the burning of natural gas associated with oil ext...
CAN THE CASPIAN REGION STILL COMPETE FOR UPSTREAM CAPITAL?
To avoid an investment cliff edge, future projects must be made lower risk, lower cost, higher re...
CANADIAN OIL SANDS PRODUCTION EXCEEDS PRE-PANDEMIC LEVELS
Canadian oil sands production has fully recovered from last year's 'COVID-19 Shock...
ALERTS SEND WARNINGS ABOUT THE FUTURE OF POWER
Ed Crooks, Vice-Chair, Americas Grids in Texas and California last week urged customers to...
PIPELINE INSTALLATIONS SPEND TO INCREASE BY C. 10% TO $45 BN IN 2021
The Covid-19 pandemic and collapse in oil prices saw global pipeline installations fall from high...
NET ZERO BY 2050 – IMPLICATIONS FOR THE UPSTREAM OIL AND GAS SECTOR OF THE IE...
The release of the IEA’s Roadmap to Net Zero by 2050 report on 20 May is a potential bo...
GLOBAL PETROSTATES CAN FORGET TRILLION-DOLLAR OIL AND GAS TAX REVENUES AS ENE...
The global government income from oil and gas taxation fell to a multi-year low in 2020 of around...
HOW WILL NET ZERO 2050 PLANS AFFECT EMERGING MARKETS?
Energy majors face public challenges to improve carbon neutrality efforts G7 governments...
WESTWOOD INSIGHT: THE STATE OF EXPLORATION 2021
The State of Exploration report is published at a time which may come to be seen as a watershed m...
ENERGY TRANSITION REPRESENTS A US$14 TRILLION UNCERTAINTY FOR UPSTREAM OIL AN...
The energy transition represents US$14 trillion worth of uncertainty for upstream oil and gas, ac...
UPSTREAM SPENDING, CUT BY $285 BILLION IN TWO YEARS
The toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn ...
WESTWOOD: OFFSHORE WIND FIDS TO SKYROCKET 57% OUTSIDE CHINA BY 2022
New analysis from Westwood Global Energy Group (Westwood), the specialist energy market research ...
A GAS BOOM IS COMING IN THE US
Natural gas production in the US is set to grow to a new record in 2022, at 93.3 billion cubic fe...
WESTWOOD INSIGHT: FARM-OUT LEVELS DROP TO A RECORD LOW IN 2020
Oil companies are constantly seeking to access new exploration opportunities or to share the risk...
ELECTRIFICATION IN TRANSPORT AND OTHER OIL-DEPENDENT SECTORS IS ACCELERATING
The adoption of electrification in transport and other oil-dependent sectors is accelerating and ...
AUTOMATION – KEY DRIVER FOR PREMIUM MIDDLE EAST ONSHORE RIG DAY RATES
The Middle East is a significant contributor to onshore rig demand, accounting for c.10% of t...
SAKARYA GAS DISCOVERY: PRODUCTION TESTING COULD PROVE TRANSFORMATIONAL
Ciaran Nolan Director, Nolan Geoscience Limited Location of the Sakarya gas discovery...
US E&PS TO FOCUS ON COMPLETIONS AND FINISH DRILLED UNCOMPLETED WELLS
E&Ps, oilfield service, and supply companies made significant cuts during 2020 in order to su...
OFFSHORE WINDFARM DEVELOPMENTS TAKE HOLD IN THE US
For a country with such a significant hydrocarbon industry, is it any wonder that other sources o...
ROBOTS COULD REPLACE HUNDREDS OF THOUSANDS OF OIL AND GAS JOBS
Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new...
WESTWOOD INSIGHT: DRILLSHIP UTILIZATION SURPASSES PRE-PANDEMIC LEVELS
Terry Childs - Head of RigLogix - reviews historic and future drillship rig utilization and share...
RENEWABLES TAKE CENTRE STAGE – BUT COULD BECOME A VICTIM OF THEIR OWN SUCCESS
Rory McCarthy Senior Research Manager, European Power, Wood Mackenzie The current decade ...
DRILLING ACTIVITY IS SET FOR TWO CONSECUTIVE YEARS OF GROWTH
After a challenging 2020, oil and gas demand recovery – supported by vaccination efforts an...
VACCINATION HICCUPS COULD PREVENT THE RECOVERY OF UP TO 1 MILLION BPD OF OIL ...
The vaccine distribution cycle was not expected to be perfect, but the recent spike in cases in E...
TECTONIC SHIFT: CHINA’S WORLD-CHANGING PUSH FOR ENERGY INDEPENDENCE
China’s phenomenal growth has been fuelled by hydrocarbons and built with metals. China rel...
RENEWABLES SPENDING SET FOR NEW RECORD IN 2021
Capital expenditure for renewable energy projects is set for a new record in 2021, a Rystad Energ...
WHY EXPLORERS ARE NOT TARGETING MORE GAS IN RESPONSE TO THE ENERGY TRANSITION
There has been much talk about natural gas as a transition fuel, primarily in helping to lower em...
EXPLORATION ACTIVITY IN GUYANA TO SPEED UP
Guyana has started the year with an exploration disappointment as a partner in the ExxonMobil-ope...
WILDCAT SAFARI RUNNING DRY: ONSHORE SUCCESS RATE DIPS TO LOWEST ON RECORD
The success rate of global conventional oil and gas exploration has declined in recent years, but...
OFFSHORE PROJECT COMMITMENTS COUNT SET FOR RECORD IN COMING YEARS
Offshore project commitments are expected to not only recover going forward, but their number is ...
COULD 2021 BE A TIPPING POINT FOR ENERGY TRANSITION INITIATIVES IN EUROPE?
TGS insights provide the stories behind Energy data. These regular short 3-5 minute reads feature...
MCKINSEY & COMPANY: GLOBAL OIL SUPPLY-AND-DEMAND OUTLOOK TO 2040
COVID-19 sent shocks through global oil markets, with oil demand and supply still struggling ...
2021 AND ENERGY TRANSITION - THE OUTLOOK FOR ENERGY PORTFOLIOS AND M&A
The Energy Transition towards the post-hydrocarbon age is happening now and will involve energy s...
HIRING WAVE COMING: OFFSHORE WIND STAFF DEMAND TO TRIPLE BY 2030
The Covid-19 downturn has once again caused employment rates to plummet in the oil and gas indust...
BIG OIL INCURRED RECORD LOSS IN 2020, JOINT OUTPUT FELL BY 0.9 MILLION BOEPD
The downturn brought by the Covid-19 pandemic and the accelerating energy transition has created ...
TOTAL TO OUTPACE IBERDROLA AND ØRSTED ON RENEWABLE POWER CAPACITY BY 2030
New analysis from Westwood Global Energy Group (Westwood), the specialist energy market research ...
MORE THAN 200 OIL PROJECTS CAN HIKE OUTPUT, AND PROFITS, FROM SUBSEA BOOSTING
The saying has it that in every crisis there is opportunity, and the oil industry is no exception...
RYSTAD ENERGY: AUSTRALASIA IN REVIEW
Even though 2020 was the year oil and gas producers reduced output to balance the pandemic-hit de...
AFRICA AND THE AMERICAS HOST MOST OF THE TOP 30 HIGH-IMPACT WELLS FOR 2021
Drilling of high-impact oil and gas prospects in 2020 suffered at the hands of the global pandemi...
GLOBAL INSTALLED OFFSHORE WIND CAPACITY TO SEE 37% GROWTH IN 2021, FUELED BY ...
Despite the Covid-19 pandemic, the world’s installed offshore wind capacity rose by 15% in ...
SAKARYA GAS DISCOVERY UPDATE - TÜRKALI-1 AND 2 APPRAISAL WELLS
Ciaran Nolan Director, Nolan Geoscience Limited Black Sea Deepwater Wells: 1999-2021,...
ARGENTINA’S VACA MUERTA TIGHT OIL DEPOSIT IS NOW PRODUCING AT RECORD LEVELS
The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta fo...
OFFSHORE EPC INVESTMENT PRIMED FOR A RAPID BOUNCE-BACK IN 2021
Offshore EPC investment is primed for a rapid bounce-back in 2021, boosted by projects deferred f...
TOTAL OUTPERFORMED PEERS IN 2020, A YEAR OF COST REDUCTIONS AND POOR DISCOVERIES
Despite the devastating downturn of 2020, most global majors held up quite well during the market...
US DRILLED BUT UNCOMPLETED WELLS ALREADY AT PRE-COVID-19 LEVELS
The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic...
US OIL PRODUCTS DEMAND SET FOR AN ADDITIONAL 350,000 BPD ‘BIDEN BOOST’ IN 2021
After a devastating 2020, Rystad Energy projected demand for oil products in the US to grow by 1....
THE UK OFFERS OPERATORS BEST PROFIT CONDITIONS TO DEVELOP BIG OFFSHORE FIELDS
This year marks the beginning of a recovery after a disappointing 2020, when the Covid-19 pandemi...
SHARE OF GAS FLARED IN THE PERMIAN FALLS TO ITS LOWEST LEVEL OF THE SHALE ERA
The share of gross gas output that is flared at the wellhead in the US’ prolific Permian Ba...
ENGIE CHOOSES A DIVERSIFIED AND COMPLEMENTARY RENEWABLE ENERGY MIX
Solar or wind? Biomethane or green hydrogen? For ENGIE, a pioneer in the development of renewable...
2020 HIGH IMPACT EXPLORATION AND 2021 KEY WELLS TO WATCH
High impact exploration has weathered a perfect storm of a pandemic, an oil price crash and an ac...
WHAT DO THE GEORGIA SENATE RACES MEAN FOR OIL & GAS?
Analysis from PESA Vice President Government Affairs Tim Tarpley With 98% of votes current...
AFRICA: ECONOMIC YEAR IN REVIEW 2020
Efforts to address structural vulnerabilities to the economic and health effects of Covid-19 ...
E&P CAPITAL EXPENDITURE - WHAT IS THE OUTLOOK FOR 2021?
Westwood’s analysis of 3 E&P peer groups – the five Supermajors, four selected Na...
NORWAY IS 2020’S GLOBAL LEADER IN AWARDED ACREAGE IN CENTURY’S POOREST LICENS...
The end of this year is set to make 2020 the year with the fewest concluded licensing rounds of t...
WESTWOOD GLOBAL: UK AND NORWAY EXPLORATION AND PRODUCTION OUTLOOK FOR 2021
After a turbulent 2020 for the oil and gas industry, 2021 is expected to see a modest rise in...
CHINA TO BE TOP MARKET FOR ONSHORE SEISMIC IN THE NEXT TWO YEARS; GLOBAL RECO...
The global onshore seismic market has had a devastating 2020 with a 27% slump in purchase value. ...
THE WORLD WILL NOT HAVE ENOUGH OIL TO MEET DEMAND THROUGH 2050 UNLESS EXPLORA...
The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despi...
OILFIELD SERVICE PURCHASES SET TO LOSE $340 BILLION UNTIL 2028 AS PEAK OIL IS...
The oilfield service (OFS) market is projected to lose a cumulative $340 billion in purchases val...
RYSTAD ENERGY: IF OPEC+ INCREASES OUTPUT IN JANUARY, A 200 MILLION-BARREL GLU...
As the world is aching to put an end to a devastating 2020, oil producers are now assessing the l...
THE WORLD MAY NOT HAVE ENOUGH HEAVY LIFT VESSELS TO SERVICE THE OFFSHORE WIND...
Offshore wind is booming, and as turbine and project sizes grow, demand for specialized insta...
GLOBAL E&P PLAYERS MAY INVEST $380 BILLION IN 2021, BUT ABOUT 20% IS AT RISK
Investments from global exploration and production companies (E&P) in 2021 are projected to r...
RYSTAD ENERGY: HYDROGEN OPENS A PROLIFIC SERVICE INDUSTRY
A wave of green and blue hydrogen projects that are poised to be developed in coming years could ...
US SHALE OIL OUTPUT SET TO STABILIZE IN 2021
US’ shale oil output is set to decline this year thanks to the ravages of COVID-19, and as ...
THE COVID-19 DOWNTURN SLASHED AUSTRALIA’S OIL AND GAS WORKFORCE BY A QUARTER
The Covid-19 pandemic hit Australia’s already declining oil and gas workforce hard, causing...
GLOBAL DISCOVERED OIL AND GAS RESOURCES SET TO REACH 10 BILLION BOE IN 2020, ...
Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in deca...
WESTWOOD INSIGHT: OPPORTUNITIES FOR COLLABORATION AND SYNERGY BETWEEN OFFSHOR...
The UK’s path to reaching net-zero by 2050 will result in a structural shift in the ene...
GERMANY'S GAS DEMAND TO TOP 110 BCM BY 2034 AND NORD STREAM 2 IS THE CHEAPEST...
Germany’s gas demand, which is currently just above 90 billion cubic meters (Bcm) per year,...
WESTWOOD INSIGHT: DRILLSHIP ATTRITION – LIFETIME REVENUE VS CONSTRUCTION COST
Drillship Attrition – Lifetime Revenue vs Construction Cost A Different Way to View Potenti...
COVID-19 AND ENERGY TRANSITION WILL EXPEDITE PEAK OIL DEMAND TO 2028 AND CUT ...
The Covid-19 pandemic and the acceleration of the energy transition have led Rystad Energy to sig...
WESTWOOD INSIGHT - STALLED RESOURCES, HOW BIG AN OPPORTUNITY IS IT?
A new study by Westwood Global Energy Group shows that 11 billion barrels of oil and 36 billion b...
WOODMAC INSIGHT: WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY?
Ed Crooks, Vice-Chair, Americas The 2020 elections present American voters with a choice b...
OIL PRODUCTION COSTS REACH NEW LOWS, MAKING DEEPWATER ONE OF THE CHEAPEST SOU...
A comprehensive Rystad Energy analysis of oil production costs has revealed that the average brea...
GREEN HYDROGEN PLANS ALREADY TOP 60 GW, BUT LESS THAN HALF IS LIKELY TO OPERA...
Proposed green hydrogen projects are surging across the globe as governments seize opportunities ...
BP FLESHES OUT WHAT NET ZERO IN 2050 MEANS FOR ITS UPSTREAM BUSINESS – IS IT ...
BP followed up the release of its Energy Outlook with a ‘BP Week’ of strategy present...
GLOBAL OFFSHORE OIL AND GAS PIPELINE DEMAND SET FOR 26% DROP IN 2020, BUT REC...
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is...
WHY DECOMMISSIONING A PLATFORM IN NORTHWEST EUROPE COSTS SO MUCH MORE THAN IN...
Platforms may be similar in characteristics and configuration, but the cost of decommissioning th...
TURKEY’S HOOKED TUNA GAS DISCOVERY COULD SAVE UP TO $21 BILLION IN IMPORT COSTS
The future development of Turkey’s giant Tuna-1 gas discovery could save the country up to ...
DIVERGENT ECONOMIC OUTLOOKS FOR NORTH AND SOUTH AMERICAS’ OIL AND GAS PRODUCI...
Operators in the Americas region have had to manage projects and mitigate the effects of COVID-19...
RYSTAD ENERGY: CHAPTER 11 AND M&A OUTLOOK IN US SHALE
Several large and small independent US oil and gas producers have filed for bankruptcy this year ...
US PERMITS FOR NEW HORIZONTAL DRILLING DIP TO 10-YEAR LOW, HINTING NO STRONG ...
US horizontal drilling activity in oil basins, which has plummeted due to the Covid-19 pandemic, ...
COVID-19 PUSHES OFS HEADCOUNT TO LOWEST LEVEL IN OVER A DECADE, REVENUE PER E...
The oil market turmoil brought on by Covid-19 has led to lower-than-anticipated activity and dela...
LIBYA’S OIL BLOCKADE IS EXPECTED TO PERSIST FURTHER, SHRINKING UPCOMING GLOBA...
Libya’s oil blockade is now entering its seventh month and the war-torn country’s oil...
MORE OPEC+ OIL PRODUCTION FROM AUGUST AND COVID-19 SECOND WAVE TO CREATE A 4-...
The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new ...
FRAC IS BACK: US FRACKING SET FOR FIRST MONTHLY RISE THIS YEAR, THE PERMIAN I...
The Covid-19 downturn has caused a shocking decline in new fracking operations in the US, with mo...
THE OIL MARKET CONTINUES ITS CAUTIOUS RALLY BUT MORE UNCERTAINTY LIES AHEAD
For the oil markets, the first half of the year saw extraordinary swings in supply and demand...
RYSTAD ENERGY: OIL AND GAS DRILLING SET FOR AT LEAST A 20-YEAR LOW IN 2020
The COVID-19 pandemic has stymied oil and gas activity, a phenomena which has now affected the dr...
AFTER A POOR 2020, FPSO AWARDS ARE SET TO RECOVER TO SEVEN VESSELS NEXT YEAR
Hit by the second industry downturn in five years, global awards for floating production, storage...
RUSSIAN ECONOMY FACES DEEP RECESSION AMID GLOBAL PANDEMIC AND OIL CRISIS, SAY...
Fueled by a COVID-19 triggered deep global recession, Russia's 2020 GDP growth is projected t...
LOWEST OF THE CENTURY - HALF-YEAR DISCOVERIES TOTAL 4.9 BILLION BOE, HIT BY T...
Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equiv...
COVID-19 DAMPENS LONG-TERM ENERGY DEMAND AND HIGHLIGHTS SCALE OF CLIMATE EMER...
The economic and behavioural ramifications of COVID-19 will significantly reduce global long-term...
AXIOM PUBLISHES ANALYSIS ON OFFSHORE FLOATING PRODUCTION MARKET AND ITS FUTURE
Axiom EMI have said that as a result of Covid-19 and low oil prices, the oil and gas floating pro...
WESTWOOD INSIGHT: NORTH SEA EXPLORATION PERFORMANCE
Sustaining production from existing infrastructure remains the key driver for North Sea explo...
PIPELINE OPTION FAR CHEAPER THAN LNG ALTERNATIVE FOR MOVING NORWAY’S ARCTIC G...
A Rystad Energy cost analysis of the Norwegian pipeline operator Gassco’s proposed options ...
HOW THE WORST OIL PRICE CRASH IN HISTORY CHANGED THE UPSTREAM INDUSTRY
The oil price crash has wiped US$1.6 trillion off Wood Mackenzie's valuation of the global up...
NEW AXIOM STUDY HIGHLIGHTS THE IMPACT OF COVID-19 AND LOW OIL PRICE ON THE SU...
Supply chain over-correction to subsea project delays will result in a weaker service sector, fur...
GLOBAL OFS DEMAND IS SET FOR A 25% DECLINE IN 2020
Global demand for oilfield services (OFS), measured in the total value of exploration and product...
RECOVERABLE OIL LOSES 282 BILLION BARRELS AS COVID-19 HASTENS PEAK OIL
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 ...
WESTWOOD INSIGHT: BP’S EXPLORATION ASSET WRITE DOWN HIGHLIGHTS DIVERGING VIEW...
The divergence in how oil companies are seeing the future is exemplified by BP’s write ...
THE PANDEMIC AND A MILD WINTER HAVE DELIVERED A HISTORIC SHOCK TO THE GLOBAL ...
Global gas demand in 2020 is set to fall by twice the amount lost after the 2008 financial crisis...
COVID-19 DRIVES RESERVES OF GLOBAL OIL AND GAS ASSETS FOR SALE TO ABOVE 12.5 ...
Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 bil...
APT STUDY IDENTIFIES NEW OIL PRESENCE OFFSHORE EAST CANADA
Applied Petroleum Technology (APT) has conducted a detailed evaluation of the Southern Grand Bank...
THE STATE OF EXPLORATION 2020
Confidence had returned to global exploration with improved performance and the emergence of ...
MAGNORA SIGNS LOI TO INVEST IN A UK ONSHORE WIND DEVELOPMENT PROJECT COMPANY
MAGNORA ASA, a leading Norwegian renewable energy investment company releases its fourth investme...
UK MAINTENANCE SPENDING TO REACH LOWEST ON RECORD, NORWAY’S TO HIT 18-YEAR LO...
Western Europe’s maintenance, modification and operations (MMO) market will likely take a m...
VIDEO: THE IMPACT OF COVID-19 ON AFRICAN ECONOMIES
Souhir Mzali Africa Regional Editor With Covid-19 slowly gathering pace in Africa, Oxford...
GLOBAL INVESTMENT SLOWDOWN SET TO HIKE OIL PRICES AND CAUSE UNDERSUPPLY OF 5 ...
The Covid-19 pandemic will leave not only short-term, but also long-term scars on the oil market....
E&P REVENUES WILL FALL BY A TRILLION DOLLARS IN 2020 DUE TO COVID-19
The devastating effect of the Covid-19 pandemic on global oil and gas exploration and production ...
US FRACKING SET FOR THE BIGGEST MONTHLY DECLINE IN HISTORY AS OIL PRICES COLL...
The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price lev...
DOWN BUT NOT OUT – HIGH IMPACT EXPLORATION TO FALL UP TO 35% IN 2020
Following the double whammy of the collapse in the oil price and the Covid-19 pandemic, explo...
USD20 OIL WILL NOT DEVASTATE UK PRODUCTION, BUT IT IS NOT A PRETTY PICTURE
With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-i...
COVID-19 AND LOW OIL PRICES COULD CANCEL MORE THAN HALF OF 2020’S LICENSING R...
More than half of the world’s planned licensing rounds are likely to be cancelled this year...
TARGETED BILLION-BARREL OIL RESOURCES AT RISK
At least nine of the world’s top planned exploration wells for 2020 are at risk of being su...
SUB-$30/BBL WTI DRASTICALLY ALTERS THE US UNCONVENTIONAL SUPPLY CHAIN
Independents and small public E&Ps active in US shale cut $17 billion with each ...
THE CURRENT CHALLENGES FOR THE UK AND NORWAY IN THE FACE OF COVID-19
The world has been transformed in the past month since the Covid-19 pandemic took hold. The d...
GLOBAL E&P CAPEX WILL REACH AT LEAST A 13-YEAR LOW IN 2020 AS COVID-19 AND PR...
Global capital expenditure (capex) for exploration and production firms (E&Ps) is expected to...
ABOVE A MILLION OFS JOBS WILL LIKELY BE CUT IN 2020 AS COVID-19 AND LOW OIL P...
More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due ...
WESTWOOD GLOBAL INSIGHT: THE OFFSHORE RIG MARKET – AT $30 OIL OFFSHORE DRILLE...
COVID-19 and low oil prices are already having an impact on the offshore rig market ...
BAHRAIN STRENGTHENS INDUSTRIAL TIES WITH EUROPE
Simultaneously strengthening its industrial potential and its foreign commercial ties, Bahrain ha...
WHAT SHARJAH’S NEW GAS FINDS MEAN FOR THE ECONOMY
Following the discovery of significant gas deposits, the first such onshore find in 37 years, Sha...
CORONAVIRUS TO DELAY MOST OF 2020’S FPSO DELIVERIES AND POSTPONE USD30 BILLIO...
Out of a global total of 28 floating production, storage and offloading (FPSO) vessels that are u...
XODUS GROUP REVEALS NEW ANALYSIS SHOWING NEED FOR RAPID PIVOT TO GAS
International energy consultancy Xodus Group has launched new analysis showing that a rapid p...
WHY EXCELLING IN STRATIGRAPHIC TRAP EXPLORATION IS NOW THE KEY TO TOP QUARTIL...
More oil and gas were discovered in stratigraphic traps than any other trap type in the last ...
CLASTIC STRATIGRAPHIC TRAPS – WHAT HAS DRIVEN EXPLORATION PERFORMANCE?
More oil and gas was discovered in stratigraphic traps than any other trap type in the last d...
INDONESIA’S 2020 OIL AND GAS OUTPUT LIKELY TO FALL, DESPITE OFFICIAL FORECAST...
Indonesia’s production of both oil and gas will most likely fall in 2020, a Rystad Energy a...
2020: MORE OFFSHORE EPC SPENDING BUT COMPETITIVE PRICING REMAINS THE NORM?
Significant cost reductions have improved E&P cashflows and should drive increased offsho...
DELOITTE OIL AND GAS M&A OUTLOOK: SHIFTING STRATEGIES RESHAPING GLOBAL TRANSA...
Key takeaways While total oil and gas deal count declined in 2019, total deal value held up...
GLOBAL OIL DEMAND GROWTH EVAPORATES AS CORONAVIRUS KEEPS PLANES GROUNDED
The coronavirus epidemic in China has triggered restrictions in the country’s public transp...
HOW WILL GEOPOLITICS INFLUENCE GLOBAL OIL SUPPLY IN 2020?
After a turbulent start to the year for the oil market, geopolitical factors around the world cou...
KENYA: YEAR IN REVIEW 2019
Ongoing expansion in key sectors fuelled solid growth in Kenya in 2019, although rising debt cont...
PERMIAN TRAFFIC INCIDENTS REMAIN AT HIGH LEVELS, BUT ‘DEATH HIGHWAY’ SAFER IN...
Since 2017, the Permian Basin has been the largest supplier of in-basin, or “local sand...
WHERE DO CÔTE D’IVOIRE’S CEOS SEE SKILLED LABOUR GAPS, GIVEN THE CURRENT ECON...
Souhir Mzali Africa Regional Editor, Oxford Business Group Côte d’Ivoire has ...
WESTWOOD GLOBAL: IMPROVED EXPLORATION SUCCESS RATES FOR DHI SUPPORTED WELLS
Geophysical Direct Hydrocarbon Indicators (DHIs) have long been the holy grail for explorers, pro...
WESTWOOD INSIGHT - EXPLORATION IN 2020 – TRANSITION, WHAT TRANSITION?
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated...
GLOBAL OIL AND GAS DISCOVERIES REACH FOUR-YEAR HIGH IN 2019
The world’s oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil ...
RYSTAD ENERGY REPORT HIGHLIGHTS FALL IN PRODUCTION COSTS GLOBALLY, LED BY THE UK
Operational production costs in the oil and gas industry have fallen across the globe, with the U...
U.S. OIL & GAS M&A POISED FOR RECOVERY AFTER CHALLENGING 2019
Enverus, the leading oil & gas SaaS and data analytics company, has released its summary of 2...
RENEWABLE ENERGY COUNTRY ATTRACTIVENESS INDEX (RECAI)
Ben Warren, EY Global Power & Utilities Corporate Finance Leader The latest and 54th editi...
WOOD MACKENZIE’S NEW DATA TECHNOLOGY TRANSFORMS OIL & GAS UPSTREAM VALUATIONS
Natural resources research and consultancy Wood Mackenzie launches the world’s first Global...
BP AND SHELL ON OPPOSITE ENDS OF M&A RANKING
European supermajors BP and Shell occupy the top spots on opposite sides of Rystad Energy’s...
WOOD MACKENZIE: HAS M&A CREATED VALUE IN THE NORTH SEA?
Wood Mackenzie runs rule over 55 largest deals Since the turn of the decade, it’s be...
CAN KUWAIT AND SAUDI ARABIA UNLOCK OIL PRODUCTION IN THE NEUTRAL ZONE?
On July 24 Prince Abdulaziz bin Salman, Saudi Arabia’s minister of state for energy aff...
WORLD LAND DRILLING RIG MARKET FORECAST 2019-2023
International fleet conditions improve with onshore rig utilisation to tick past 50%, despite wea...
WHAT ARE THE LIKELY OUTCOMES OF SAUDI ARABIA’S OVERSEAS INVESTMENT DRIVE?
Saudi Arabia has rapidly been increasing its business footprint overseas, last year tripling its ...
WESTOOD RELEASES THE US FRAC SAND OUTLOOK WHITE PAPER
US Frac Sand Outlook – White Paper A new white paper from Westwood investigates demand f...
ENERGY MARKET REVIEW TOP TRENDS SO FAR
Across all Energy markets the trend towards hardening market conditions and increasing ...
WESTWOOD INSIGHT: WEST AFRICAN RIG MARKET - A SLOW-BURN RECOVERY
The West African offshore rig market has been one of the hardest hit during the oil price dow...
WESTWOOD INSIGHT: FLOATING PRODUCTION
The offshore market is set for a bumper year with 83 greenfield FIDs expected, totalling $115...
HOW CONCERNED ARE ASEAN CEOS ABOUT A SLOWDOWN IN CHINA?
Patrick Cooke Asia Regional Editor, Oxford Business Group In an era marked by rapid techn...
WESTWOOD INSIGHT: OFFSHORE RIG SUPPLY – REBALANCING THE MARKET
Consolidation and Rig ‘Recycling’ are at the Forefront of a Supply-Chain Response...
ROMANIA UPSTREAM FISCAL AND REGULATORY REPORT 2019
The "Romania Upstream Fiscal and Regulatory Report - Frequent Legislative Changes Create Unc...
NW BORNEO EXPLORATION – IN SEARCH OF NEW FRONTIERS
Since the start of 2008, 153 exploration wells have been drilled in the SE Asia exp...
CRUSHING THE MARKET WITH 225 MILLION TONS OF FRAC SAND SUPPLY
Westwood’s Todd Bush, Head of US Unconventionals (Energent) looks at supply, pricing an...
WESTWOOD INSIGHT: US DRILLING AND COMPLETIONS SET TO EXCEED 20,000 WELLS IN 2019
The US Unconventional industry continues to see increasing completion intensity per well. Thi...
THE HYDROCARBON E&P INDUSTRY IN 2019: ARE WE NEARLY THERE YET?
According to analysts Rystad Energy, 2018 was the best year for hydrocarbon discoveries since 201...
HOW WELL FOUNDED IS THE POSITIVE OUTLOOK OF ALGERIAN CEOS?
Souhir Mzali Africa Regional Editor, Oxford Business Group With the i...
OUTLOOK FOR THE OIL AND GAS INDUSTRY IN 2019
5 new trends are highlighted in a new report published today by DNV GL 1: Resilient, confi...
REBOUND IN SPENDING KEEPS OFFSHORE AHEAD OF SHALE
A recent surge in final investment decisions (FIDs) on offshore oil and gas projects has set the ...
NVENTURES AFRICA E&P NEWS UPDATE
Exploration Drilling Industry attention is very much focused on Namibia this month, with t...
WESTWOOD GLOBAL ENERGY: MIDDLE EAST – A HOTBED OF ACTIVITY FOR RIG CONTRACTOR...
The onshore land rig market is now just over two years into the current cycle. North American act...
WESTWOOD ENERGY 2018 STATE OF EXPLORATION REPORT
Westwood Global Energy Group has released its ninth annual State of Exploration Report, the d...