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Wood Mackenzie believes in high returns from oil and gas again

Oil and gas exploration will in 2017 create double-digit returns once again, says analyst firm Wood Mackenzie in a new report. "Lower costs are already paying off," says the firm.

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For five years, returns on oil and gas exploration has only been of the single-digit variety. But this will change in 2017, says analyst firm Wood Mackenzie in a new report.

"The industry has a good chance of achieving double digit returns in 2017. Smarter portfolio choices and lower costs are already paying off," says Dr Andrew Latham, vice president of exploration at the analyst firm.

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