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European gas storage plans for 2023 still stand despite cold snap

14 December 2022

Colder temperatures across Europe have increased month-on-month heating demand by 20% in December, but behavioural change in households and services means the amount of gas used in these sectors is 16% lower than previous average consumption patterns for similar temperatures says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).

Comment

Can the North Sea survive the price rout?

23 March 2020

The North Sea has weathered several storms in its 50-year existence. But the events of the past few weeks mean the sector is entering uncharted waters. The coronavirus pandemic and collapse in OPEC+ production restraint has seen Brent reach its lowest point since 2003.

Featured

The greening of BlackRock: What it means for energy

17 January 2020

Discover how Blackrock’s new focus on sustainability and climate risk is transforming global energy finance and accelerating the shift to low-carbon solutions.

Opinion

How should Cyprus' giant gas discoveries be commercialised?

04 June 2019

Cyprus has been a bright spot for exploration over the last 7 years, with a string of giant gas discoveries. We estimate a total of 11 tcf of recoverable gas resource has been found. Can these be commercialised?

News Release

Russia supply reduction via Nord Stream poses risks to gas storage refill in Europe

17 June 2022

Russia reducing flows via Nord Stream, outages at Freeport and French nuclear downgrades have sent the European natural gas market into an upward spiral with more volatility still to come. And while summer consumption will be covered, analysts at Wood Mackenzie, a Verisk business (Nasdaq: VRSK) say storage refill is at risk unless additional demand and supply measures are taken.

Comment

Petrogas and Hitec Vision snap up Total UK asset package in $635m deal

10 July 2019

French Major Total has sold its stakes in 10 UK North Sea fields to Petrogas NEO, a new joint venture between Petrogas and HitecVision, for US$635 million. The asset package includes operated and non-operated assets, which will produce 25,000 barrels of oil equivalent per day (boe/d) this year. The assets hold over 30 million barrels of oil equivalent in remaining reserves.

Featured

How cities can accelerate the energy transition

02 July 2019

What role do cities play in driving the energy transition? Find out in this complimentary report from Alan Gelder, VP of Refining, Chemicals & Oil Markets.

News Release

World heading for a 3°C warming trajectory, as political headwinds slow the energy transition

02 May 2024

A five-year delay to the energy transition could see the global average temperature rise to 3°C above pre-industrial levels.

News Release

Europe emerges as global LNG price-setter

27 May 2021

Global liquefied natural gas (LNG) markets were set to tighten over the next five years, driven by a slowdown in global LNG supply growth. But Europe’s market dynamics are turbo-charging the price recovery, with TTF currently trading close to US$9 per million British thermal units (/mmbtu), a level not seen since mid-2018. Following the recent winter spot price spike in Asia, the European market has been sustaining global LNG prices, making the region a battleground for global LNG price formation, new research from global natural resources consultancy Wood Mackenzie found.

Opinion

Day 2: The Energy Gang at The Reuters Global Energy Transition Conference 2024

27 June 2024

Check out the second special episode of Wood Mackenzie's The Energy Gang podcast, recorded at the Reuters Global Energy Transition 2024 conference in New York. Listen in as we sit down with leaders from key companies shaping the energy transition.

Comment

Red-letter day for Norway as Johan Sverdrup comes on stream

08 October 2019

First oil from Johan Sverdrup – Norway’s sixth-largest discovery, with reserves of around 2.7 billion barrels – is a red-letter day for the partners and the Norwegian state. The decision to sanction the development was the country's largest final investment decision in more than 30 years.

Opinion

Can the EU and US hit EV targets amid supply chain shake up?

19 June 2024

We examine whether both markets can meet their production and sales targets for electric vehicles while de-risking supply chains

News Release

China leads global renewables race with record-breaking 230 GW installations in 2023

28 November 2023

Currently on target to reach a record-breaking 230 gigawatts (GW) of wind and solar installations this year, China leads the global renewables market. This is more than double the number of US and Europe installations combined.

Comment

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

13 August 2019

Commenting on reports that ExxonMobil is preparing to sell its UK North Sea portfolio, Neivan Boroujerdi, principal analyst, North Sea upstream, at Wood Mackenzie, said: “A proposed UK exit was expected. We value the portfolio at around US$2 billion.

News Release

North Sea to remain global hotspot in 2020

09 January 2020

It will be a noteworthy year for the North Sea – companies will increase production for the first time since 2017 and the outlook for both exploration and investment is looking healthy. The region will remain a global hotspot for deals as the corporate landscape continues to evolve. Crucially, the North Sea will also see major steps towards decarbonisation.

News Release

High quality oil and gas supplies are scarce, threatening emissions targets and a healthy energy transition

16 February 2023

The energy transition will require oil and gas for decades to come, but the supply of lower-cost, lower-carbon “advantaged” barrels remain scarce, threatening emissions targets and causing upstream providers to pivot to new strategies, according to “Scraping the Barrel” a new Horizons analysis from Wood Mackenzie.

Featured

When will Tesla make a profit?

22 January 2020

When will Tesla make a profit? Will Tesla make a small car? Who makes Tesla batteries? Wood Mackenzie answers your frequently asked questions about US car manufacturer Tesla.

Opinion

Germany's ‘traffic light’ coalition greenlights a faster energy transition

09 December 2021

From ambitious renewables targets to accelerated coal phase-out and a power market overhaul, Germany's new new governing coalition looks intent on reinvigorating the Energiewende.

Featured

Shifting tides of global crude oil trade: Six emerging themes

05 December 2018

We've identified six key themes that will influence the global crude and refining markets in the next five years. Read on for a high level overview of these key areas.

News Release

Oil price rout may trigger major industry shake-up

10 March 2020

As global markets reel in the wake of the oil price crash, Wood Mackenzie’ corporate analysis team believes the price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s.

News Release

Stability of Russian gas flows remain uncertain, despite the reopening of Nord Stream

21 July 2022

Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per day (mcm/d) – 40% of the pipeline’s overall capacity. The European gas market has reacted, with prices down by 5%; but the stability of Russian gas flows is by no means a given, according to analysts at Wood Mackenzie.

Comment

Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor

16 November 2020

The commissioning of the Trans Adriatic Pipeline's (TAP) initial 10 bcm per year capacity follows four and a half years of construction, EUR4.5 billion of capex and a variety of obstacles – especially in Italy, where the pipeline ends.

News Release

Steel decarbonisation to redefine supply chains by 2050

19 October 2023

The rise of electric-arc furnace technology, increased use of green feedstock and evolving carbon policies will reshape steel production and global trade patterns.

Opinion

What forces will shape global gas markets over the next two decades?

13 August 2020

Global gas demand has proved resilient despite widespread coronavirus lockdowns - but supply dynamics are more challenging. Will gas and LNG demand continue to recover? And what forces will shape the market over the next two decades?

News Release

Bulks most affected by Russia-Ukraine conflict; rising power prices a key concern

15 February 2022

Trade dislocations due to sanctions, high power prices and disruption to production facilities in the conflict zone are three major threats to the metals and mining industry as result of escalating conflict between Russia and Ukraine, says Wood Mackenzie.

Comment

Total hits the jackpot at Glendronach

24 September 2018

Total has made a major gas discovery in the UK's West of Shetland region, hitting an estimated 1 trillion cubic feet of gas

Editorial

A timeline of major events in Ukraine-Russia gas relations

20 December 2019

The gas transit and supply contracts between Russia and Ukraine expire at 10 am on 1 January 2020 (Moscow time) – the future of Ukraine transit remains the largest uncertainty for global gas markets in 2020. We reflect on major events in Ukraine-Russia gas relations in this timeline, 2000 to 2019.

Opinion

Tech companies accelerate nuclear deployment

18 October 2024

Nuclear power can play an important role in tackling climate change and strengthening energy security. Its big problem has been buyers have not been willing to pay a premium for 24/7 carbon-free power. This week, that started to change.

Webinar

Webinar | Making the connection: meeting the electric T&D supply chain challenge

15 October 2024

This webinar will dive deep into the electric T&D supply chain challenge, examining the underlying drivers of demand, supply constraints and future trends.

Opinion

America’s new gas boom

19 August 2026

America’s gas industry is entering a new era as AI drives power demand and LNG exports expand

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Search results: 576

European gas storage plans for 2023 still stand despite cold snap

Can the North Sea survive the price rout?

The greening of BlackRock: What it means for energy

How should Cyprus' giant gas discoveries be commercialised?

Russia supply reduction via Nord Stream poses risks to gas storage refill in Europe

Petrogas and Hitec Vision snap up Total UK asset package in $635m deal

How cities can accelerate the energy transition

World heading for a 3°C warming trajectory, as political headwinds slow the energy transition

Europe emerges as global LNG price-setter

Day 2: The Energy Gang at The Reuters Global Energy Transition Conference 2024

Red-letter day for Norway as Johan Sverdrup comes on stream

Can the EU and US hit EV targets amid supply chain shake up?

China leads global renewables race with record-breaking 230 GW installations in 2023

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

North Sea to remain global hotspot in 2020

High quality oil and gas supplies are scarce, threatening emissions targets and a healthy energy transition

When will Tesla make a profit?

Germany's ‘traffic light’ coalition greenlights a faster energy transition

Shifting tides of global crude oil trade: Six emerging themes

Oil price rout may trigger major industry shake-up

Stability of Russian gas flows remain uncertain, despite the reopening of Nord Stream

Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor

Steel decarbonisation to redefine supply chains by 2050

What forces will shape global gas markets over the next two decades?

Bulks most affected by Russia-Ukraine conflict; rising power prices a key concern

Total hits the jackpot at Glendronach

A timeline of major events in Ukraine-Russia gas relations

Tech companies accelerate nuclear deployment

Webinar | Making the connection: meeting the electric T&D supply chain challenge

America’s new gas boom

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