production decline Archives

Wood Mackenzie says Big Oil’s strategy has snapped back to upstream

February 20, 2026

(Oil Price) – If there was any lingering doubt about what’s keeping Big Oil executives up at night, the fourth-quarter results cleared it up. It’s not slogans. It’s not transition optics. It’s whether they have enough high-quality barrels to avoid production decline in the 2030s. The majors are refocusing hard on upstream portfolio renewal for the next decade, according to WoodMac,

Equinor forecasts 10%–20% production decline at Johan Sverdrup field in 2026

February 4, 2026

(World Oil) – Equinor expects oil output from its Johan Sverdrup oil field, the largest source of European supply growth in the last decade, to fall this year. Production will decline by somewhere between 10% and 20%, Chief Executive Officer Anders Opedal said at a media briefing on Wednesday. Exports from the field averaged 712,000 bpd last year, according to loading programs compiled by

production decline

Wood Mackenzie says Big Oil’s strategy has snapped back to upstream

Equinor forecasts 10%–20% production decline at Johan Sverdrup field in 2026

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