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.

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