Wood Mackenzie: Twice as many new oil projects this year

The investment level in oil and gas projects will increase this year for the first time since 2014, and the number of new oil projects looks set to double this year compared to last, projects Wood Mackenzie.

Photo: Wintershall

"2017 will demonstrate how efficient the oil and gas industry has become."

This is Wood Mackenzie's conclusion in a new report in which the analyst firm points to a series of key factors shaping developments in the sector in 2017 – a year which expects the number of final investment decisions (FIDs) in new oil projects to more than double compared to last year's total of nine FIDs.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

WindEurope warns against negative auction bids

If more countries introduce negative bids, where firms pay to establish wind projects, it could lead to higher electricity bills or more pressure on the supply chain, says the industry association.

BW Offshore halved bottom line in Q1

The Norwegian firm reports decline in several items compared to the same quarter of 2021 but predicts fine advancement in the rest of 2022, for which both floating wind projects and high energy prices show promise.

Equinor exits Russia

Norwegian oil company Equinor has taken its final step out of the Russian market by transferring joint venture assets to Rosneft.

Further reading

Related articles

Latest News

See all jobs