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Offshore wind sector doubled down on tangible opportunities in 2023

31 January 2024

Despite supply chain headwinds and price pressures, the global offshore wind sector saw significant growth in its mature pipeline, as late-stage pipeline mergers & acquisitions, turbine orders, and project financial investment decisions (FIDs) saw record activity in 2023. This has boosted the sector’s momentum into 2024.

News Release

Power demand growth remains strong in Asia Pacific

31 January 2024

India, China and Southeast Asia will continue to be the three most important growth engines of power demand across the planet, says Alex Whitworth, Vice President, Head of Asia Pacific Power Research at Wood Mackenzie. With the Asia Pacific region seeing its share of global power demand surpass the 50% mark in 2023.

News Release

Lithium market faces a transition as demand growth slows

31 January 2024

Key things to watch in 2024 for lithium

News Release

Energy storage’s meteoric rise breaks another record

19 March 2025

The U.S. energy storage market set a new record in 2024 with 12.3 gigawatts (GW) of installations across all segments, according to the latest U.S. Energy Storage Monitor report released today by the American Clean Power Association (ACP) and Wood Mackenzie. The report shows a total of 12,314 megawatts (MW) and 37,143 megawatt hours (MWh) deployed, representing increases of 33% and 34% respectively over 2023 numbers.

News Release

Oil prices likely to be lower in 2025 than last year

18 March 2025

Brent crude oil prices are projected to average $73 per barrel in 2025, down $7 per barrel per barrel from 2024, according to Wood Mackenzie’s latest monthly oil market outlook. The $73 per barrel forecast for this year is revised down $0.40 per barrel from the early February monthly report.

News Release

Solar adds more new capacity to the grid in 2024 than any energy technology in the past two decades

11 March 2025

The United States installed a record-breaking 50 gigawatts (GW) of new solar capacity in 2024, the largest single year of new capacity added to the grid by any energy technology in over two decades. According to the U.S. Solar Market Insight 2024 Year in Review report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, solar and storage account for 84% of all new electric generating capacity added to the grid last year.

News Release

Wood Mackenzie donates solar power system to domestic violence shelter in Puerto Rico

06 March 2025

To honor the upcoming International Women’s Day, Wood Mackenzie, in partnership with Let’s Share the Sun and other third parties, recently donated 24 solar panels and 2 batteries of storage to a shelter for victims of domestic violence in Puerto Rico. The fully installed 10.8 kW-DC system and 27.2 kWh battery will provide a significant portion of the shelter’s power needs.

News Release

South America to add 160 GW of solar PV capacity by 2034

05 March 2025

Wood Mackenzie's latest report on the South American solar PV market reveals that the region will add 160 GWdc of solar capacity between 2025 and 2034, driven by diversification efforts, growing power demand, and favourable system economics. The report "South America Solar PV Market Outlook 2025" provides a comprehensive analysis of the region's solar energy landscape, power sector dynamics, 10-year solar PV installation outlook, and policy impacts across key markets.

News Release

Wood Mackenzie launches Lens Power & Renewables

04 March 2025

Wood Mackenzie, the global insight business for renewables, energy, and natural resources, has launched Lens Power & Renewables, a new suite of products with interconnected data, analytics, and insights to navigate the energy transition.

News Release

Oil market uncertainty could significantly affect prices

24 February 2025

Wood Mackenzie projects that Brent crude oil prices will average $73.00 per barrel (bbl) in 2025, according to its latest market outlook. The forecast considers various geopolitical and economic factors, including potential peace talks between Russia and the US regarding the Ukraine conflict, ongoing tariffs, and sanctions against Iran.

News Release

Natural gas remains the crucial bridge in the energy transition, yet challenges persist

20 February 2025

Natural gas will play a vital role in the energy transition, supporting the expansion of renewables and accelerating the shift away from coal, according to the latest Horizons report from Wood Mackenzie. The report, titled "The bridge: Natural gas's crucial role as a transitional energy source," emphasizes that while the world is increasingly turning to renewable energy, natural gas remains fundamental to meeting global energy needs and reducing emissions in the medium term.

News Release

Proposed US tariffs could increase onshore wind costs by up to 7%, says Wood Mackenzie

11 February 2025

New trade tariffs and increased import restrictions in the US onshore wind power sector could lead to higher overall costs, threatening project viability and potentially slowing growth in the industry, according to a recent report from Wood Mackenzie.

News Release

Wood Mackenzie recognised on Financial Times' - UK’s Leading Management Consultants 2025

10 February 2025

Wood Mackenzie made the Financial Times’ 2025 list of the UK’s Leading Management Consultants –presented by the Financial Times in cooperation with leading statistics and industry ranking portal Statista Inc. The list was announced on February 5, 2025, and can be viewed on the FT website.

News Release

US oil tariffs on Canada and Mexico would significantly impact North American crude flows

06 February 2025

US oil tariffs on Canada and Mexico would initiate a significant shift in crude flows in North America as higher prices would push a portion of US imports into overseas markets, according to a recent report from Wood Mackenzie.

News Release

North Sea decommissioning faces challenges on several fronts, says Wood Mackenzie

16 December 2024

The likelihood of a “dash to decom” in the North Sea remains limited due to a number of speed bumps that are slowing the widespread shut down of offshore assets, Wood Mackenzie reports.

News Release

Shell and Equinor combination creates a new UK superpower, says Wood Mackenzie

06 December 2024

Addressing the announcement of Equinor and Shell combining UK offshore oil and gas assets in a newly incorporated joint venture, Gail Anderson, research director at Wood Mackenzie said, “This new venture will create the biggest producer on the UKCS and demonstrates the long-term attractiveness of the region.”

News Release

U.S. solar cell production resumes for first time since 2019, as solar module manufacturing sets record in Q3

04 December 2024

The United States added a record-breaking 9.3 gigawatts (GW) of new solar module manufacturing capacity in Q3 2024. At full capacity, U.S. solar module factories can produce enough to meet nearly all demand for solar in the United States.

News Release

Republican control will shift US energy policy away from net zero, but sweeping agenda faces roadblocks

18 November 2024

Republican control in the US will move energy policy away from net zero targets, but President-elect Trump’s full agenda will face political and market opposition according to Wood Mackenzie analysis.

News Release

Guyana and Suriname could provide 12 mmtpa of cost-competitive LNG in the 2030s

04 November 2024

Several gas developments are underway in Guyana and Suriname that could offer new competitive LNG supply sources early next decade, according to a new report from Wood Mackenzie.

News Release

An additional £10 billion of North Sea value could be extracted from existing assets if the right fiscal and regulatory regime is established

23 October 2024

Up to £10 billion of North Sea oil and gas pre-tax value could be unlocked from existing assets if the UK government was to implement a fiscal system that encourages investment – and restores trust with the industry – according to new analysis by Wood Mackenzie.

News Release

Increased protectionist measures in US solar market could expand domestic manufacturing, but increase overall costs

22 October 2024

New trade tariffs and increased import restrictions in the US solar supply chain would expand domestic manufacturing, but create a more expensive market, potentially slowing down the growing sector, according to a recent report from Wood Mackenzie.

News Release

Global competitiveness of renewable LCOE continues to accelerate

21 October 2024

In 2024, the global landscape for Levelised Cost of Electricity (LCOE) continues to reflect significant advances in renewable energy technologies, with wind and solar power leading the way, according to the latest LCOE reports from Wood Mackenzie.

News Release

Chevron moves closer to Canadian divestment target with $6.5B asset sale to CNRL

08 October 2024

Addressing Chevron’s announcement to sell Canadian assets to Canadian Natural Resources (CNRL) for US$6.5 billion Mark Oberstoetter, Upstream Research Director in Calgary, said “Chevron has shown commitment to its divestment target with two sale announcements in two weeks. Offloading Alaska assets to ConocoPhillips (COP) last week for US$300 million was a small step and made strategic sense given their lack of materiality in the Supermajor’s portfolio. Today’s announcement moves the company much closer to its US$10-15 billion divestment target.”

News Release

US Grid-Scale Energy Storage Installations Surge, Setting New Q2 Record

01 October 2024

The U.S. energy storage market experienced significant growth in the second quarter, with the grid-scale segment leading the way at 2,773 MW and 9,982 MWh deployed.

News Release

H1 global wind turbine orders hit 91.2 GW, a 23% increase from year-ago levels

16 September 2024

H1 global wind turbine orders hit 91.2 GW, a 23% increase from year-ago levels

News Release

Iraq aims to ramp up oil and gas output

16 August 2024

Iraq’s upstream sector is undergoing rapid change, with an increasingly diverse corporate ecosystem, and significant investment being funneled into boosting oil and gas production. That said, crucial infrastructure issues still need to be overcome, and a lack of exploration activity remain a challenge. Iraq’s gas output could more than double by 2030 to reach 4.4 bcfd and oil output could hit 5.5 million b/d, in that same time frame, according to the report “Iraq’s upstream opportunities: a review” from Wood Mackenzie.

News Release

Golden Pass LNG project delay to impact global gas markets with removal of new supply, according to Wood Mackenzie

02 August 2024

The new six-month delay to the Golden Pass LNG Terminal LLC planned start-up in Texas will remove a fair amount of new supply from the market in a period of intense growth, shifting the surge from 2026 to 2027 and impacting both the global and North American gas markets, according to analysis from Wood Mackenzie.

News Release

US energy storage market sets Q1 capacity installation record

18 June 2024

The U.S. energy storage market set a first-quarter record for capacity installed in Q1 2024, with 1,265 megawatts (MW) deployed across all segments. This marks the highest storage capacity ever installed in a first quarter in the U.S., representing an 84% increase from Q1 2023.

News Release

American solar panel manufacturing capacity increases 71% in Q1 2024 as industry reaches 200-gigawatt milestone

06 June 2024

A record-setting 11 gigawatts of new solar module manufacturing capacity came online in the United States during Q1 2024, the largest quarter of solar manufacturing growth in American history.

News Release

ConocoPhillips acquisition of Marathon Oil creates third largest producer in the US Lower 48, says Wood Mackenzie

30 May 2024

Addressing ConocoPhillips (COP) acquisition of Marathon Oil (MRO) in an all-stock transaction valued at US$22.5B, Alex Beeker, research director, corporate research for Wood Mackenzie said, “The addition of Marathon further solidifies ConocoPhillips in a league of its own, with few true peers. For ConocoPhillips, this is a diversified and balanced move across multiple geographies.”

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Search results: 5332

Offshore wind sector doubled down on tangible opportunities in 2023

Power demand growth remains strong in Asia Pacific

Lithium market faces a transition as demand growth slows

Energy storage’s meteoric rise breaks another record

Oil prices likely to be lower in 2025 than last year

Solar adds more new capacity to the grid in 2024 than any energy technology in the past two decades

Wood Mackenzie donates solar power system to domestic violence shelter in Puerto Rico

South America to add 160 GW of solar PV capacity by 2034

Wood Mackenzie launches Lens Power & Renewables

Oil market uncertainty could significantly affect prices

Natural gas remains the crucial bridge in the energy transition, yet challenges persist

Proposed US tariffs could increase onshore wind costs by up to 7%, says Wood Mackenzie

Wood Mackenzie recognised on Financial Times' - UK’s Leading Management Consultants 2025

US oil tariffs on Canada and Mexico would significantly impact North American crude flows

North Sea decommissioning faces challenges on several fronts, says Wood Mackenzie

Shell and Equinor combination creates a new UK superpower, says Wood Mackenzie

U.S. solar cell production resumes for first time since 2019, as solar module manufacturing sets record in Q3

Republican control will shift US energy policy away from net zero, but sweeping agenda faces roadblocks

Guyana and Suriname could provide 12 mmtpa of cost-competitive LNG in the 2030s

An additional £10 billion of North Sea value could be extracted from existing assets if the right fiscal and regulatory regime is established

Increased protectionist measures in US solar market could expand domestic manufacturing, but increase overall costs

Global competitiveness of renewable LCOE continues to accelerate

Chevron moves closer to Canadian divestment target with $6.5B asset sale to CNRL

US Grid-Scale Energy Storage Installations Surge, Setting New Q2 Record

H1 global wind turbine orders hit 91.2 GW, a 23% increase from year-ago levels

Iraq aims to ramp up oil and gas output

Golden Pass LNG project delay to impact global gas markets with removal of new supply, according to Wood Mackenzie

US energy storage market sets Q1 capacity installation record

American solar panel manufacturing capacity increases 71% in Q1 2024 as industry reaches 200-gigawatt milestone

ConocoPhillips acquisition of Marathon Oil creates third largest producer in the US Lower 48, says Wood Mackenzie

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