US$210bn of new spend in firing line as players target cost cuts

• 02 April 2020

The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.

How coronavirus is affecting power demand in the Midwest

• 08 April 2020

The arrival of the COVID-19 pandemic has derailed power demand patterns and expectations in the Midcontinent ISO (MISO).

Wind turbine technology evolution is diverging quickly between China and the rest of the world

• 07 February 2024

Western OEMs reduce the pace of NPI and focus on product standardisation while Chinese peers continue the frenetic pace of new turbine introduction

Power purchase agreements: how will they support renewables growth?

• 15 December 2020

Power purchase agreements are attractive for investors entering the renewable energy space, but the market is still relatively small. We take a look at key market trends.

Renewables and nascent low-carbon technologies most exposed to high interest rates

• 18 April 2024

If high interest rates persist, transitioning to a net zero global economy will be even harder and more costly. The higher cost of borrowing negatively affects renewables and nascent technologies, compared to more established oil and gas, and metals and mining sectors, which remain somewhat insulated.

The US oil Majors set the pace in the Permian Basin

• 04 February 2022

ExxonMobil and Chevron's oil and gas production plans in Texas and New Mexico, Georgia Power look to exit coal and the surging interest in CCUS and hydrogen.

Are PPAs still playing their part in the expansion of solar? | Podcast

• 15 September 2023

David Banmiller and Harald Overholm discuss Alight's remarkable journey from a small player to a major force in solar energy. Plus, the key role of power-purchase agreements (PPAs).

How worried should Asia be about conflict in Ukraine?

• 17 February 2022

Combined with existing market tightness, concerns over disruption to Russian energy supplies in the event of conflict in Ukraine have pushed spot prices towards record levels. Across virtually all energy and natural resources, backwardation is back with a bang.

The blockade on Libya’s oil exports

• 24 January 2020

Libya’s crude production has slumped, oil CEOs have been debating emissions cuts, and surging LNG supplies has driven down world gas prices. This and more from Ed Crooks.

Winners and losers in the energy transition

• 15 October 2021

Moving to net zero emissions would transform the allocation of resource wealth around the world. Policymakers are starting to assess the potential economic impact.

Sakarya Phase One kick-starts Turkey’s upstream sector transformation, making nation less reliant on gas imports

• 20 April 2023

Addressing Turkish Petroleum Corporation’s (TPAO) launch of Sakarya Phase One, Ashley Sherman, Research Director, Caspian & Europe Upstream Oil and Gas for Wood Mackenzie said “Sakarya Phase One redefines the scale of Turkey’s upstream sector, bringing its first deepwater output and a fundamental shift in domestic energy security. To date, Turkey has relied almost entirely on gas imports to meet its demand. Sakarya Phase One will put a sizeable dent into the country’s energy import bill, which reached an eye-watering US$97 billion in 2022. But Phase Two would be the real gamechanger, enabling Sakarya to cover almost 30% of Turkey’s gas consumption by 2030.”

Transocean’s $2.7bn Ocean Rig deal ‘a winner’

• 03 September 2018

Rig provider Transocean is set to merge with Ocean Rig in a $2.7 billion deal, a move Wood Mackenzie says is a winning one for the rig market.

Webinar | Europe Upstream Outlook 2025

• 27 February 2025

Join us on the 27th February as we discuss the outlook for Europe Upstream oil and gas

European Energy Service

Stay on top of key fundamentals and get to the bottom of Europe's dynamic energy markets with our European Energy Service.

Solar and wind uptake to reach 5.4 TWac from 2024 to 2033

• 08 July 2024

From 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, increasing the cumulative global total to 8 TWac, as the world endeavours to electrify economies and meet decarbonisation targets.

OPEC stays the course with production deal

• 01 December 2017

OPEC and non-OPEC producers agree to extend production curbs through 2018

Can upstream cost savings stick?

• 15 December 2017

The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.

Cutting dependence on China’s renewables supply chain

• 01 June 2023

The US takes a lead by incentivising equipment manufacturers.

China's renewables boom year poses major challenges to western markets

• 17 February 2022

China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political as well as environmental challenge, says Wood Mackenzie.

OPEC producers key to world supply through to 2040

• 16 July 2018

Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.

Metals and mining: will 2020 be a milestone year?

• 28 January 2020

With the energy transition taking centre stage, 2020 looks likely to be a year of change for the energy industry. And the metals and mining industry is at the heart of the action.

Walking on hot coal

• 24 September 2021

Thermal coal prices have been hitting record highs in recent months, driven by the same forces that have stoked many other commodity markets this year

Total brings Culzean on stream, ahead of time and under budget

• 11 June 2019

French major Total today brought the high-pressure/high-temperature (HP/HT) Culzean field, in the UK central North Sea, on stream, ahead of schedule and under budget.

ExxonMobil farewells Norway with US$4.5bn Vår Energi deal

• 27 September 2019

ExxonMobil is selling its Norwegian business to Eni/HitecVision-owned Vår Energi for US$4.5 billion, Norway’s biggest deal since the Statoil-Norsk Hydro merger in 2006.

Goldwind captures the top spot for global wind turbine supply

• 09 May 2023

Three different OEMs realised double-digit GW installations in 2022, despite multiple supply chain complications

OPEC’s battle for control of the oil market

• 18 June 2019

Persistent non-OPEC volume growth poses a challenge. Get our latest OPEC and non-OPEC supply forecasts.

China leads global wind turbine manufacturers’ market share in 2023

• 01 May 2024

China accounted for 65% of global wind capacity in 2023, which pushed four Chinese wind turbine original equipment manufacturers (OEM) into the top five global rankings, a first for the sector. With a record of 16.3 gigawatts (GW) capacity installed, Goldwind maintained the leading position for the second consecutive year.

China to hold over 80% of global solar manufacturing capacity from 2023-26

• 07 November 2023

After investing over US$130 billion into the solar industry in 2023, China will hold more than 80% of the world’s polysilicon, wafer, cell, and module manufacturing capacity from 2023 to 2026.

Ban on inverters from high-risk countries, led by China, to affect 14% of EU solar demand through 2030

• 08 July 2026

The recent European Commission decision to ban PV inverters and power-conversion systems (PCS) from China and other countries the Commission considers high risk, from all European Union (EU)-funded clean energy projects may affect around 14% of forecasted European solar PV demand from 2026 to 2030, totalling over 28 GWdc of PV inverter demand.

Top 10 solar PV inverter vendors account for 86% of global market share

• 14 August 2023

The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.