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Shell takes a hit from the coronavirus downturn

02 July 2020

The company is taking a gloomier view of oil and gas prices over the next few years, prompting a writedown in asset values of up to $22 billion after tax

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.

Comment

What would an EU carbon border adjustment mechanism mean?

14 July 2021

The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”

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.

News Release

Oil price rout: which supply is most at risk of shut-in?

27 March 2020

The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent crude has plunged to less than US$30/bbl. This will have a significant impact on currently producing fields and future supply. How low can the price go before different sources of production become uneconomic? Where are production shut-ins most likely? Can governments influence the result?

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

Comment

OGA gives Alligin and Finlaggan the green light

23 October 2018

UK Oil & Gas Authority gives the Alligin and Finlaggan developments the green light

Opinion

Heating up: 2024 showcased the promise of geothermal energy

19 February 2025

Geothermal energy is gaining momentum - driven by new tech, major investments and big tech partnerships. Is it the next big player in renewables?

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.

Featured

Why Covid-19 is the ultimate energy transition stress test for refiners

20 July 2020

Covid-19 is a threat to global refiners. Who will thrive? Who will merely survive? And what does this tell us about refiners’ resilience and readiness to take on the energy transition?

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 changing global crude trade landscape

28 November 2018

Over the next five to six years global crude trade is expected to significantly change. This will impact the entire chain, from producers to investors. In this three part series, we look at the global story, the six key themes and finally, we focus on the likely impacts for Asia.

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

Opinion

Natural gas: friend or foe in Europe’s 2030 emissions target?

24 July 2020

Green hydrogen has grabbed the limelight in the drive to decarbonise. But is there a role for natural gas in a post-coronavirus Europe?

Webinar

Webinar | Developing a winning IRA strategy: how to navigate uncertainty and maximize benefits from the IRA

30 October 2024

Two years on from the introduction of the IRA, join us to discuss how developers, manufacturers, and EPCs (engineering, procurement and construction companies) are maximising project success and making the most of benefits provided by this landmark bill.

Comment

Industry slashes spending as price rout deepens: Can companies cope?

19 March 2020

Survival mode has returned to the oil and gas sector as the oil price rout deepens. Corporate financials are in better shape than during the 2014/2015 crash, but room for manoeuvre is limited. Can companies cope with prices this low?

The Edge

Can emissions taxes decarbonise the LNG industry?

11 April 2024

The LNG industry is facing growing pressure to decarbonise. But this can't be achieved without major investment, pushing up the price of delivered LNG. Buyers have so far been reluctant to pay a premium for low-carbon volumes. Taxing LNG emissions could change this. Europe is leading the way, with the EU taxing the fuel emissions of LNG vessels from this year. While an important first step, much more is required for the industry to decarbonise at scale.

Opinion

US gas exporters target a changing European market

21 October 2022

Europe is replacing its lost imports from Russia with LNG. The shift is putting its gas infrastructure under strain.

News Release

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

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.

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.

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.

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

CCUS planned capacity nearing 1 billion tonnes per annum

26 August 2022

US Inflation Reduction Act bill set to boost CCUS uptake but more is needed to meet net zero goals by 2050

Featured

Predictions for 2020

19 December 2019

For the last Energy Pulse of 2019, WoodMac experts have given their predictions of what to expect in 2020. Their forecasts include: a slowdown in US oil production growth; further asset sales by the large international oil companies; strong growth in solar power to give another record year for installations; mounting pressure from investors over climate risk and financial strength; rising carbon emissions, and a revival in awareness of the importance of metals to the energy transition. There are also our selections of the Quote of the Year and Chart of the Year.

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 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."

Editorial

It's a wrap – the 2017 PET packaging market

28 September 2018

2017 was a roller coaster year for the PET packaging market in West Europe. Our latest analysis has been based on a wide-ranging programme of interviews and discussions with participants throughout the PET recycling chain, including compliance agencies, reclaimers, traders and end users.

Opinion

COP28: a metals and mining stocktake

04 December 2023

Metals have a crucial role to play in providing materials for low carbon technologies that will reduce fossil fuel use.

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Search results: 585

Shell takes a hit from the coronavirus downturn

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

What would an EU carbon border adjustment mechanism mean?

Steel decarbonisation to redefine supply chains by 2050

Oil price rout: which supply is most at risk of shut-in?

Total hits the jackpot at Glendronach

OGA gives Alligin and Finlaggan the green light

Heating up: 2024 showcased the promise of geothermal energy

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

Why Covid-19 is the ultimate energy transition stress test for refiners

Can the North Sea survive the price rout?

The changing global crude trade landscape

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

Natural gas: friend or foe in Europe’s 2030 emissions target?

Webinar | Developing a winning IRA strategy: how to navigate uncertainty and maximize benefits from the IRA

Industry slashes spending as price rout deepens: Can companies cope?

Can emissions taxes decarbonise the LNG industry?

US gas exporters target a changing European market

European gas storage plans for 2023 still stand despite cold snap

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

A timeline of major events in Ukraine-Russia gas relations

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

North Sea to remain global hotspot in 2020

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

CCUS planned capacity nearing 1 billion tonnes per annum

Predictions for 2020

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

ExxonMobil and QP land a giant with Glaucus

It's a wrap – the 2017 PET packaging market

COP28: a metals and mining stocktake

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