Companies are deciding to invest again, but can the other projects compete with US tight oil?
Despite an increase in new projects sanctioned this year, shale still poses a threat
During the comparative boom years between 2007 and 2013, oil and gas firms made about 40 final investment decisions on big projects every year. Then came the price crash. In 2015, the number of FIDs was just 10. Now things seem to be picking up. Wood MacKenzie, a consultancy, expects companies to pull the trigger on 20-25 projects this year—evidence that they're starting to think about growth again. "There are some positive signs in what is a challenging outlook for new project investment," says analyst Norman Valentine. Why? Wood Mac sees a few reasons. "Costs have been coming down, there has been supply-chain deflation, meaning companies pay lower rates for drilling, equipment and installa
Also in this section
9 January 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
