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Few oil and gas companies commit to Scope 3 net zero emissions as significant challenges remain

28 October 2022

Scope 3 emissions account for 80-to-95% of total carbon emissions from oil and gas companies. But only a small number of these firms have set Scope 3 net zero ambitions, according to a recent report from Wood Mackenzie.

News Release

Verisk Announces the Sale of Wood Mackenzie to Veritas Capital

31 October 2022

Verisk (Nasdaq: VRSK), a leading global data analytics provider, and Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced the signing of a definitive agreement under which an affiliate of Veritas has agreed to acquire Verisk’s Energy business, Wood Mackenzie, for $3.1 billion in cash consideration payable at closing plus future additional contingent consideration of up to $200 million.

News Release

Offshore CCS projects could breathe new life into Gulf of Mexico

04 November 2022

As the US looks for innovative ways to reduce greenhouse gas emissions, offshore carbon capture storage (CCS) projects in the US Gulf of Mexico (GoM) could play an influential role in meeting future goals, according to analysis from Wood Mackenzie.

News Release

Industry leaders to speak at Wood Mackenzie’s Grid Edge Innovation Summit 2022

10 November 2022

Join executives from Shell Recharge Solutions, Exelon, BMW, and General Motors, as event looks at current trends, challenges and drivers shaping the grid edge

News Release

Solar PV to overtake onshore wind in Latin America from 2023

16 November 2022

Solar PV will become the most cost-competitive technology in Latin America from 2023, according to Wood Mackenzie’s latest research report, ‘Latin America levelized cost of electricity (LCOE)’ which examines the power technology and generation landscape across the region to 2050. Solar will also displace onshore wind, currently the most attractive renewable energy source in Brazil, by 2025.

News Release

Power facilities to potentially use 100 Mt of low-carbon ammonia as feedstock by 2050

17 November 2022

As one of the most-used petrochemicals in the world, ammonia offers a bevy of decarbonization and energy market opportunities, including the potential to provide 100 million tonnes (Mt) into the power sector by 2050 in a high-case scenario. However, without strong policy support, low-carbon ammonia may remain an untapped market, according to “Avoiding Pand-Ammonia” a new report from Wood Mackenzie.

News Release

A better future for energy emerging from crisis

07 December 2022

Wood Mackenzie report offers five key developments for the energy sector over the next 12 months

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).

News Release

Bolivian gas production to decline faster than expected, exports to Brazil and Argentina to cease by 2030

18 January 2023

Bolivian gas production will decline more rapidly than expected, falling from 1,400 million cubic feet per day (mmcfd) in 2022 to as low as 400 mmcfd by 2030, according to a report from Wood Mackenzie, a Verisk business.

News Release

New global oil and gas discoveries in 2022 drive exploration to highest value creation in over a decade

30 January 2023

The global oil and gas exploration sector had its strongest year in 2022 in more than a decade. In its work to improve portfolios by adding lower-carbon, lower-cost advantaged hydrocarbons, the sector created at least $US33 billion of value and achieved full-cycle returns of 22%, at $US60/barrel Brent prices, according to a recent report from Wood Mackenzie, a Verisk business.

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

US microgrid market develops at rapid pace, with capacity reaching 10 GW in 2022

06 February 2023

The US microgrid market reached 10 gigawatts (GW) in the third quarter of 2022, with more than 7 GW in operation and the rest in planning or construction stages, according to latest analysis from Wood Mackenzie’s Grid Edge Service.

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.

News Release

US could see $100B of new LNG projects in the next five years

22 February 2023

High prices and the demand for energy security will drive the US to be the leading exporter of LNG in 2023 and potentially pave the way for $100 billion in new developments to support long-term growth, according to a new report from Wood Mackenzie

News Release

Policy-driven supply constraints cause steep drop in solar installations in 2022

09 March 2023

According to the U.S. Solar Market Insight 2022 Year in Review released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, utility-scale installations fell by 31% year-over-year to 11.8 GW, the sector’s lowest total since before the COVID-19 pandemic.

News Release

Willow project in National Petroleum Reserve-Alaska economically viable with approval from US Interior Department

13 March 2023

The US Interior Department today approved the Willow project in the National Petroleum Reserve-Alaska (NPR-A). The decision is for a three-pad development instead of the originally sought five drill sites and is coupled with ConocoPhillips relinquishing 68,000 acres of existing leases. The new Record of Decision replaces one received in October 2020, which was later vacated following a court case. The three-pad approval will still render the project economically viable, say analysts at Wood Mackenzie.

News Release

Public EV charging market in North America on track for rapid growth

22 March 2023

As electric vehicle (EV) adoption continues to rise, the market for public charging networks in North America is forecast to grow rapidly by 2050, according to Wood Mackenzie’s latest ‘Commercial landscape of EV charging networks in North America’ report.

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

US Gulf of Mexico Lease Sale 259 shows optimism for the region

29 March 2023

The US Gulf of Mexico region-wide Lease Sale 259 held today attracted 353 bids from 32 companies, with high bids totalling US $264 million. The amount of activity surpassed the previous lease sale spend in 2021, demonstrating optimism for the region, according to Wood Mackenzie analysts.

News Release

Tesla Solar Roof deployments miss expectations

30 March 2023

Since the launch of the Tesla Solar Roof (“Solar Roof”) in 2016, Wood Mackenzie estimates that approximately 3,000 Solar Roofs have been installed nationwide, with a total capacity of nearly 30 megawatts direct current (MWdc), missing Tesla’s stated goal of 1,000 installations per week.

News Release

Emissions crackdown could fast-track Australian CCS projects

06 April 2023

A revision to the Safeguard Mechanism, legislation that requires Australia’s largest emitters to cut direct emissions (known as Scope 1 emissions,) could trigger a spike in carbon, capture and storage (CCS) projects in the region, says Wood Mackenzie.

News Release

Wood Mackenzie supports the installation of 252 solar panels in energy impoverished areas of Puerto Rico

11 April 2023

A team of six professionals from global energy consultancy Wood Mackenzie traveled to energy-impoverished areas of Puerto Rico last month to install solar panels and energy storage systems on homes and a women’s shelter as part of an ongoing charitable project with Let’s Share the Sun Foundation.

News Release

Latin America’s natural gas deficit to grow as new resource production remains a challenge

03 May 2023

With several challenges facing new gas developments in Latin America, supply will be unable to keep up with demand, driving the need for expanded imports to the region over the next decade, according to a new report from Wood Mackenzie.

News Release

With $9B BM-C-33 FID in Brazil, Equinor to increase its deepwater production outside of Norway to 400,000 boe/d by end of the decade

09 May 2023

Addressing Equinor’s announced final investment decision (FID) for Brazil’s $9 billion BM-C-33 project, Luiz Hayum, senior research analyst, Latin America and Sub-Saharan Africa Upstream Oil and Gas, said “The BM-C-33 is Equinor’s second FID in a long list of justified for development deepwater projects outside Norway. Once sanctioned, these projects will increase Equinor’s operated deepwater production outside Norway from near zero to 400,000 boe/d by the end of the decade.”

News Release

Industry leaders to speak at Wood Mackenzie’s Solar & Energy Storage Summit 2023

09 May 2023

The solar and energy storage industries in North America continue to be catapulted forward by the Inflation Reduction Act (IRA) and the transition to a clean energy future.

News Release

Australian operators need to collaborate to create super basins

16 May 2023

Australia’s oil and gas industry needs to urgently fast-track the creation of energy “super basins” to provide a pathway to greater sustainability and cut emissions, according to Anne Forbes, Upstream Research Analyst at Wood Mackenzie.

News Release

Brent-linked long-term LNG contracts are back in vogue

17 May 2023

Long-term liquefied natural gas (LNG) contracting activity is off to a strong start in 2023, with around 13 million metric tonnes per annum (mmtpa) of signed in just over four months. Speaking on the sidelines of the Australian Petroleum Production and Exploration Association (APPEA) Conference in Adelaide, Daniel Toleman, Principal Analyst for Global LNG at Wood Mackenzie said that the bullish conditions in the market have continued.

News Release

North American gas market to expand by 25 percent over the next decade, despite headwinds

17 May 2023

Near-term gas market expansion continues to be driven by global demand for US LNG exports, which will largely be supplied through continued growth in Permian associated gas and Haynesville production, according to a recent report from Wood Mackenzie.

News Release

Nuclear needs to be cost competitive with alternative power generation to enable net zero

18 May 2023

Despite policy support and market growth, the biggest economic hurdle to the uptake of the latest nuclear and small modular reactors (SMRs) is cost, according to Wood Mackenzie report.

News Release

Australian E&P companies need resilient and sustainable plans to weather future energy shocks

19 May 2023

Strong commodity prices have improved short-term resilience for Australia’s largest exploration and production (E&P) companies, but long-term uncertainties remain according to Andrew Harwood, Research Director of Corporate and Upstream Research at Wood Mackenzie. Speaking at the Australian Petroleum Production and Exploration Association (APPEA) Conference in Adelaide, Mr Harwood told delegates that operators must adapt their strategies to be robust enough to handle future bumps on the road to decarbonisation.

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Search results: 5130

Few oil and gas companies commit to Scope 3 net zero emissions as significant challenges remain

Verisk Announces the Sale of Wood Mackenzie to Veritas Capital

Offshore CCS projects could breathe new life into Gulf of Mexico

Industry leaders to speak at Wood Mackenzie’s Grid Edge Innovation Summit 2022

Solar PV to overtake onshore wind in Latin America from 2023

Power facilities to potentially use 100 Mt of low-carbon ammonia as feedstock by 2050

A better future for energy emerging from crisis

European gas storage plans for 2023 still stand despite cold snap

Bolivian gas production to decline faster than expected, exports to Brazil and Argentina to cease by 2030

New global oil and gas discoveries in 2022 drive exploration to highest value creation in over a decade

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

US microgrid market develops at rapid pace, with capacity reaching 10 GW in 2022

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

US could see $100B of new LNG projects in the next five years

Policy-driven supply constraints cause steep drop in solar installations in 2022

Willow project in National Petroleum Reserve-Alaska economically viable with approval from US Interior Department

Public EV charging market in North America on track for rapid growth

A supercharged China could turn up the heat on global commodities

US Gulf of Mexico Lease Sale 259 shows optimism for the region

Tesla Solar Roof deployments miss expectations

Emissions crackdown could fast-track Australian CCS projects

Wood Mackenzie supports the installation of 252 solar panels in energy impoverished areas of Puerto Rico

Latin America’s natural gas deficit to grow as new resource production remains a challenge

With $9B BM-C-33 FID in Brazil, Equinor to increase its deepwater production outside of Norway to 400,000 boe/d by end of the decade

Industry leaders to speak at Wood Mackenzie’s Solar & Energy Storage Summit 2023

Australian operators need to collaborate to create super basins

Brent-linked long-term LNG contracts are back in vogue

North American gas market to expand by 25 percent over the next decade, despite headwinds

Nuclear needs to be cost competitive with alternative power generation to enable net zero

Australian E&P companies need resilient and sustainable plans to weather future energy shocks

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