Wood Mackenzie
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Wood Mackenzie analysis projects a full repeal of the Inflation Reduction Act is unlikely, while industry proponents urge permitting overhaul and loosening of burdensome regulations. -
Government grants and tax incentives will drive carbon capture, storage, and/or utilization projects in the next decade as the industry seeks profitable business model.
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With mobilization in China normalizing, new Wood Mackenzie analysis expects the country to account for almost 40% of global growth in oil demand this year.
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Record prices and the need for energy security are driving US LNG market momentum.
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Wood Mackenzie said "advantaged barrels" that are cheap to extract and with low emissions represent less than a third of untapped resources.
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Namibia, Brazil, and Algeria scored major discoveries in 2022 as the industry drilled fewer exploration wells but found better and larger prospects.
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By 2030, deepwater production is expected to rise 60%, but after that, reduced leasing and exploration could limit this small slice of the sector.
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It's not just about how much resource is left in the ground. The world's super basins will also need ample access to renewable energy and carbon storage in order to remain competitive in the upcoming decades.
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Pandemic gridlock, rerouting risk, and net-zero expectations are squeezing oilfield service companies into change.
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Tight gas supplies, and uncertain Russian gas supplies mean sky-high prices for LNG suppliers now and a chance to lock in attractive contracts long term. But this opportunity won’t last forever.
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