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Global installed wind power capacity set to grow by 9% to 2030

15 December 2021

Global wind power capacity is expected to grow at a cumulative annualised growth rate (CAGR) of 9% between 2021 and 2030, according to a new report by Wood Mackenzie.

News Release

High carbon tax could erode up to 60% of Asia’s refining earnings

05 October 2021

A high carbon tax could erode up to 60% of Asia’s total refining earnings by 2027, says Wood Mackenzie, at the Global Energy Summit Focus Week.

News Release

EU’s ‘Fit for 55’ lays out bloc’s green blueprint

14 July 2021

Europe is at the forefront of the shift to net zero, both in ambition, but also in terms of how to make rapid and deep decarbonisation a reality. The world needs to reduce carbon dioxide (CO2) emissions as quickly as possible. Not doing so means we will need to turn to expensive and unproven technologies to withdraw CO2 from the atmosphere later this century.

News Release

UK accelerates plan to cut carbon emissions

20 April 2021

Today's announcement outlining the UK's plan to set a legally binding 78% greenhouse gas emissions reduction target (on 1990 levels) through its Sixth Carbon Budget is another significant milestone on the road to its goal of net-zero emissions by 2050.

Comment

Chrysaor seals North Sea top spot with reverse takeover of Premier Oil

06 October 2020

Privately-held UK Independent Chrysaor is buying London-listed Premier Oil by way of reverse takeover. Premier’s US$2.7 billion of debt and hedging liabilities will be repaid and cancelled via a US$1.232 billion cash payment, plus Chrysaor shares.

News Release

UK can lead world in net zero energy technologies – but investment is critical

16 September 2020

Wood Mackenzie today delivered a comprehensive roadmap for the North Sea’s future to the OGTC, setting out the critical technologies needed to deliver an integrated net zero energy system on the UK Continental Shelf (UKCS), positioning the UK as a world-leader in the move to a low carbon world.

News Release

Asia Pacific’s oil demand to fall in 2020 but could rise 25% by 2040

28 July 2020

According to a new report by Wood Mackenzie, oil products demand in Asia Pacific is expected to fall by 1.8 million barrels per day (b/d) year-on-year in 2020.

Comment

BP sells petrochemicals business to INEOS in US$5bn deal

29 June 2020

Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.

Comment

BP asset write-down 'is significant for sector'

16 June 2020

Speaking after BP announced it was writing down as much as $17.5 billion when it reports its second quarter results, Luke Parker, vice president, corporate analysis, said: “The impairment shouldn’t come as a big surprise, but the implications – near-term and long-term – are significant.”

News Release

Power system flexibility key to Europe's net-zero targets

03 June 2020

The success of Europe’s transition to net-zero emissions by 2050 will hinge on the flexibility of its power system.

News Release

UK gas market faces Covid-19 deadlock

21 May 2020

The UK gas balance has reached a deadlock for the summer. Resilient UK production, Norwegian imports and baseload LNG imports are overwhelming the market with supply. And with lockdown placing huge pressure on electricity and fuel markets, demand will be weak throughout the summer.

News Release

Ukraine may hold key to Europe’s gas storage crunch

16 April 2020

European gas storage is almost full to the brim – and with the mild weather, coronavirus lockdowns hitting demand and an over-supplied market, levels are not likely to drop soon. New analysis from natural resources consultancy Wood Mackenzie suggests October may prove critical for the market – and highlights a potential solution to the storage crunch.

Comment

Shell 'to be net-zero company by 2050'

16 April 2020

Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.

Comment

Jet fuel takes hit as Trump unveils US travel ban

12 March 2020

The travel ban announced by US President Donald Trump today is likely to have an immediate impact on jet fuel demand and prices across Europe and the US.

Comment

French major Total to take 50% stake in Adani solar unit

07 February 2020

Speaking after French major Total announced it planned to buy a 50% stake in Indian company Adani Green Energy’s solar unit, Tom Heggarty, principal analyst with Wood Mackenzie’s Energy Transition Practice, said: “Total has been extremely active in the power and renewables M&A market as it seeks to diversify its activities and grow its exposure to the zero-carbon power sector."

News Release

Renewable electricity to deliver on Europe’s 2030 climate-energy goals

07 November 2019

If European member states deliver their individual National Energy and Climate Plans, renewables will account for around 53% of power supply in 2030. Europe is on track to hit this target, although the performance of individual countries will vary, according to analysis from Wood Mackenzie.

Comment

Total expands partnership with Adani on India's gas market

14 October 2019

Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.

News Release

Has M&A created value in the North Sea?

04 September 2019

Since the turn of the decade, it’s been a frenetic period for M&A in the North Sea. Against a backdrop of oil price volatility and a dramatically changing corporate landscape, activity reached record levels. But have acquisitions created value so far? Wood Mackenzie recently analysed 55 of the largest North Sea deals announced between 2012 and 2018 from today’s vantage point to quantify underlying value creation.

Comment

BP sells Alaska business to Hilcorp in US$5.6bn deal

27 August 2019

Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making progress with their divestment campaigns. This will mean long-held assets and territories will be let go. BP made such a deal today with its sale of all US Alaska assets to privately-owned Hilcorp."

Comment

TechnipFMC demerger 'a bold step to reposition for the long-term'

27 August 2019

In 2017 Technip and FMC Technologies completed one of the hallmark oilfield service company mergers of the cycle. The business plans to split in the first half of 2020 – but not back into Technip and FMC - rather into ‘upstream’ and ‘mid/downstream’.

Comment

ExxonMobil and QP land a giant with Glaucus

28 February 2019

ExxonMobil and partner Qatar Petroleum today announced they made a major gas find with the Glaucus-1 well, drilled offshore Cyprus. “Glaucus is a giant,” Robert Morris, senior research analyst, Europe upstream, at global natural resources consultancy Wood Mackenzie, said. He added: “It will be one of the biggest discoveries of the year."

Comment

Spanish renewables targets undermined by political uncertainty

20 February 2019

Today, Wednesday 20th February 2019, Spanish Prime Minister Pedro Sanchez presented the country’s climate action plan for 2030 to 2050. Commenting on the announcement, Wood Mackenzie Power & Renewables Senior Research Analyst, Brian Gaylord, said:

Comment

Medco Energi's potential takeover of UK-listed Ophir Energy

02 January 2019

On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released, other than Medco has to make a clear binding offer by the 28th of January if a deal is to proceed. Ophir's upstream portfolio includes assets in Thailand, Vietnam, Indonesia, Malaysia, Equatorial Guinea and Tanzania. It also has exploration acreage in Mexico and Bangladesh.

Comment

Hammond raises hopes of decommissioning hub role for Scotland

30 October 2018

In the Autumn Statement, the UK's Chancellor of the Exchequer Philip Hammond did not make any headline changes to oil and gas tax rates, setting out instead plans to make a "call for evidence" on how to establish Scotland as a global hub for decommissioning.

News Release

Will a shifting global market embrace US crude?

05 March 2018

A new study by Wood Mackenzie, examines this shift in the oil market, and assesses the challenges and opportunities facing the market and US producers and midstream operators.

News Release

UK car ban will have "massive impact on markets"

26 July 2017

We took a closer look at the impact of the UK government’s proposal to ban the sale of new petrol and diesel cars by 2040.

News Release

Europe to install 45 million heat pumps in the residential sector by 2030

04 August 2022

Europe is set to achieve 45 million cumulative heat pump installations in the residential sector by 2030, which will support the region’s net zero and energy security goals, according to Wood Mackenzie’s latest insight ‘Europe electrification of heat demand outlook to 2050’.

News Release

Russian refinery products will continue to flow in 2023 despite European price cap

31 January 2023

The European Commission’s announcement that the EU is proposing a US$100 per barrel price cap on Russian oil products such as diesel, jet fuel and gasoline, and a US$45 per barrel cap on discounted products like fuel oil, would not severely impact Russian refiners according to Wood Mackenzie.

News Release

A supercharged China could turn up the heat on global commodities

23 March 2023

The Chinese economy is expected to grow by 5.5% but could grow by as much as 7% in 2023 as the country bounces back from three years of lock-down caused by the Covid pandemic according to a new report by Wood Mackenzie.

News Release

Global floating solar to top 6GW threshold by 2031

24 May 2023

The global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies.

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Search results: 576

Global installed wind power capacity set to grow by 9% to 2030

High carbon tax could erode up to 60% of Asia’s refining earnings

EU’s ‘Fit for 55’ lays out bloc’s green blueprint

UK accelerates plan to cut carbon emissions

Chrysaor seals North Sea top spot with reverse takeover of Premier Oil

UK can lead world in net zero energy technologies – but investment is critical

Asia Pacific’s oil demand to fall in 2020 but could rise 25% by 2040

BP sells petrochemicals business to INEOS in US$5bn deal

BP asset write-down 'is significant for sector'

Power system flexibility key to Europe's net-zero targets

UK gas market faces Covid-19 deadlock

Ukraine may hold key to Europe’s gas storage crunch

Shell 'to be net-zero company by 2050'

Jet fuel takes hit as Trump unveils US travel ban

French major Total to take 50% stake in Adani solar unit

Renewable electricity to deliver on Europe’s 2030 climate-energy goals

Total expands partnership with Adani on India's gas market

Has M&A created value in the North Sea?

BP sells Alaska business to Hilcorp in US$5.6bn deal

TechnipFMC demerger 'a bold step to reposition for the long-term'

ExxonMobil and QP land a giant with Glaucus

Spanish renewables targets undermined by political uncertainty

Medco Energi's potential takeover of UK-listed Ophir Energy

Hammond raises hopes of decommissioning hub role for Scotland

Will a shifting global market embrace US crude?

UK car ban will have "massive impact on markets"

Europe to install 45 million heat pumps in the residential sector by 2030

Russian refinery products will continue to flow in 2023 despite European price cap

A supercharged China could turn up the heat on global commodities

Global floating solar to top 6GW threshold by 2031

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