Technology

Wood Mackenzie’s annual review of global upstream M&A suggests that peak levels of deal activity in 2010, particularly at the end of the year, bode well for another big year in 2011. The independent researchers identify four key prevailing themes that underpinned total spend of US$183 billion in 2010 as: Unconventional oil and gas, weak US gas prices, restructuring among the International Oil Companies (IOCs) and aggressive spending by the Asian National Oil Companies (NOCs).

Following a year of slow economic recovery, unstable price fluctuations and damaging incidents in the Gulf of Mexico and China, the oil and gas industry is predicting a healthy investment in new exploration and market opportunities in the Middle East over the next 12 months, a new report on the future of the sector reveals.

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