Insight
Global Upstream Update: our favourite slides and topics – May 2024
Report summary
The Global Upstream Update is a regular Insight produced for global clients. This edition includes: 1. Decarbonisation and decommissioning: infrastructure-led exploration could extend field life and defer deepwater abex. The UK’s new emissions targets are aggressive and risk a ‘domino effect’ of early cessation at key hubs. Azerbaijan and BP are gearing up for COP29 with emissions reduction initiatives. 2. Gas spend and growth: Canadian gas prices are in focus as LNG Canada starts-up, but Phase 2 is at risk. The outlooks for Malaysia LNG and Brunei LNG are contrasting, the former is filling up, the latter desperately needs gas. African capex is rising again, with a focus on gas spend. 3. Costs and service sector: the red-hot rig market is headed for a cool down; which raises the question of rig owner consolidation. But costs are still rising for Australian projects, to their economic detriment. US tight oil could be on a different trend, threatening to surprise to the upside, again.
Table of contents
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Executive summary
- Catch up on previous editions
- Pick of the slides
Tables and charts
This report includes 1 images and tables including:
- Asia-Pacific: exploration activity rising
What's included
This report contains:
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