Here's one of the most important charts we might see in oil and gas this year. New this week from industry watchdog Wood Mackenzie -- showing how many offshore petroleum projects will likely see final investment decisions (FIDs) during 2017.
Wood Mackenzie sees a major surge coming this year in investment decisions on offshore oil and gas projects
There are a few important things to note here. First, approvals of new petroleum projects were running strong between 2007 and 2014 -- with the blue bar on the left showing how FIDs during this period averaged 40 projects per year.