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LNG exports drive expansion of North American natural gas market, adding 29 bcfd of production by 2033

17 November 2022

Driven by a surge in LNG exports, the North America natural gas market will support 29 billion cubic feet per day (bcfd) of production from 2022-2033, tripling its current market size, according to a new report from Wood Mackenzie.

News Release

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

06 December 2022

Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said “The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise, given the uncertainty in the market over the impact of the 5 December EU Russia crude oil import ban and the G7 price cap. In addition, the producers group faces downside risk from the potential for weakening global economic growth and China’s zero Covid policy.”

News Release

New mid-caps in Brazil aim to increase mature asset reserves almost 1 billion boe by 2035

06 December 2022

With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining reserves by 980 million barrels of oil equivalent (mmboe) by 2035, according to a report from Wood Mackenzie, a Verisk business.

News Release

Long-duration energy storage projects attract more than US $58 billion investment over last three years

07 December 2022

Long-duration storage energy (LDES) projects around the world have attracted more than US $58 billion in commitments made by governments and companies since 2019. If all these projects went forward, it would lead to the installation of 57 gigawatts (GW) of LDES – the equivalent of three times the global energy-storage capacity deployed in 2022, according to analysis from Wood Mackenzie.

News Release

Trade and supply chain barriers delay impact of historic clean energy law

13 December 2022

The U.S. added 4.6 gigawatts (GW) of new solar capacity in Q3 2022, a 17% decrease from the same quarter last year as trade barriers and ongoing supply chain constraints continue to slow America’s clean energy progress. These disruptions will cause a 23% decline in solar installations this year compared to 2021, according to the U.S. Solar Market Insight Q4 2022 report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, a Verisk business.

News Release

Q3 U.S. grid-scale energy storage market sets new record

15 December 2022

The U.S. energy storage market grid-scale segment installed a record 4,733 megawatt-hours (MWh) in the third quarter of 2022, surpassing the previous quarterly high of 4,598 MWh in Q1 of 2021, according to a new report released today. On a single charge, this amount of battery storage could power over 150,000 U.S. homes for a day.

News Release

Norway to earn over US$200 billion from oil and gas sector in 2023

16 January 2023

Norway’s oil and gas operations in the North Sea will continue to churn out cash as the Scandinavian country maintains high production to help support Europe’s energy crisis according to a report by Wood Mackenzie.

News Release

US climate bill to boost domestic annual renewables investment to nearly US$114 billion by 2031

19 January 2023

The Inflation Reduction Act (IRA), flagship legislation focused on accelerating decarbonisation in the US, will significantly boost annual investment into renewable energy deployment in the region. A rise from US$64 billion in 2022 to nearly US$114 billion is expected by 2031, according to Wood Mackenzie, a Verisk business (Nasdaq: VRSK).

News Release

Veritas Capital completes acquisition of Wood Mackenzie

02 February 2023

Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).

News Release

Wood Mackenzie Launches the Electric Vehicles and Battery Supply Chain Service at Mining Indaba 2023

06 February 2023

Wood Mackenzie, the leading provider of decision intelligence for the world’s natural resources sector, today launched the Electric Vehicles and Battery Supply Chain Service (EVBSC) at the Mining Indaba 2023 conference in Cape Town, South Africa. The EVBSC is a new product that provides end-to-end detailed analysis and forecasts of the electric transportation value chain including quarterly long-term outlooks to 2050 and 10-year forecasts, and monthly short-term reports and data for EV, Li-ion battery and raw materials (lithium, nickel, cobalt, graphite and manganese) markets.

News Release

Renewable power competitiveness in Asia Pacific worsened in 2022

14 February 2023

The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. The trend is expected to reverse in 2023, but volatility risks including geopolitical tensions, trade policy and financing remain according to latest analysis from Wood Mackenzie.

News Release

US community solar growth slowed 16% in 2022; national market expected to double by 2027

15 February 2023

US community solar installed capacity declined 16% in 2022 compared to last year, primarily driven by interconnection delays hindering growth in key state markets such as Massachusetts, Maine, and Maryland. Industry-wide supply chain constraints also pushed project timelines into 2023, according to the latest report released by Wood Mackenzie in collaboration with the Coalition for Community Solar Access (CCSA).

News Release

Global hydrogen pipeline plummets in Q4, with only 1Mtpa of new projects announced

23 February 2023

The total global announced capacity for hydrogen projects reached 71.4 million tonnes per annum (Mtpa), but 2022 falls short of becoming a record year according to latest analysis from Wood Mackenzie.

News Release

China drives global wind turbine orders to new record in 2022

08 March 2023

Global wind turbine order intake hit new highs in 2022, with 44 gigawatts (GW) procured in Q4 and 134.6 GW for the year, both records. Dominated by activity in China, annual investment reached an estimated $74.2 billion, according to new analysis from Wood Mackenzie.

News Release

US energy storage market continues to expand rapidly

15 March 2023

Across all segments of the industry, the U.S. energy storage market installed 4.8 gigawatts (GW) of capacity in 2022, nearly equal to the combined 2020 and 2021 installed capacity of 5 GW, becoming a record year for battery storage. This is according to ACP and Wood Mackenzie’s latest U.S. Energy Storage Monitor report released today.

News Release

Global policy support for nuclear expands to address challenges of reliable, low-carbon energy supplies

22 March 2023

As nations look for more low-carbon energy supplies, many are adjusting energy policies to support new nuclear projects and developing new technologies that will make this energy source more cost-competitive, according to a new report from Wood Mackenzie.

News Release

Wood Mackenzie appoints new Chief Financial Officer

27 March 2023

Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Simon Crowe to its global executive leadership team as Chief Financial Officer (CFO), effective 27th March.

News Release

California dwarfs all other VPP markets in North America

29 March 2023

California dwarfs all virtual power plant (VPP) markets in North America, housing 24% of projects in the region, according to Wood Mackenzie’s ‘North America VPP market: H1 2023’ report.

News Release

Global wind energy to top 1 TW threshold by the end of 2023

11 April 2023

The global wind energy market will pass the one terawatt (TW) threshold for installed capacity by the end of 2023, according to the latest market outlook from Wood Mackenzie.

News Release

Oil and mining companies must adapt new strategies to deliver low-carbon transition

20 April 2023

As companies in the energy and natural resource sector struggle to find the balance between satisfying shareholder returns and meeting stakeholder low-carbon demands, new strategies are emerging that could be the catalyst to drive capital allocation decisions toward growth and closing valuation gaps, according to “Fuelling Change” a new Horizons report from Wood Mackenzie.

News Release

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.”

News Release

Kan discovery in Mexico’s shallow water one of the largest since 2020

02 May 2023

Addressing Wintershall Dea’s Kan-1 discovery, Adrian Lara, Principal Research Analyst Latin America Upstream Oil and Gas, said “With Wintershall Dea’s first operated exploration well drilled in Mexico, the announced expected resource of 200 to 300 million barrels of equivalent of oil and gas in place outperforms the original prospective resource estimated at 196 mmboe. The discovery is one of the largest in Mexico’s shallow-water since Zama, made by Talos in 2017 and Saasken made by Eni in 2020.”

News Release

Middle East gas production to jump by almost 20% by 2030

04 May 2023

The Middle East is set to spend as much as US$120 billion to increase gas production by 14 billion standard cubic feet a day (bcfd) to 86 bcfd by 2030, according to a new report by Wood Mackenzie, the leading provider of decision intelligence for the world’s natural resources sector.

News Release

China’s solar exports booming, up 64% in 2022 despite global trade tensions

23 May 2023

China’s solar exports grew 64% to US$52 billion in 2022 despite global trade tensions, according to latest analysis from Wood Mackenzie.

News Release

Global wind turbine order intake sets Q1 record, increases 27% YOY

30 May 2023

Global wind turbine order intake hit a new Q1 record, with 23.5 gigawatts (GW) of activity, a 27 percent increase year-over-year, according to a new analysis from Wood Mackenzie.

News Release

Implications of OPEC+ meeting for H2 2023

07 June 2023

The decision by OPEC+ to extend current production cuts and an additional voluntary 1 million b/d reduction for July from Saudi Arabia should provide support for prices in the rest of 2023, according to Wood Mackenzie.

News Release

Floating rig utilization rebounds to pre-COVID levels

12 June 2023

Rig utilization has returned to pre-COVID levels, driving rates up 40 percent in the past year as demand is forecast to increase another 20 percent from 2024-2025, according to a recent report from Wood Mackenzie.

News Release

US grid-scale energy storage installations record second-straight quarterly decrease

14 June 2023

Across all segments of the industry, the U.S. energy storage market added 2,145 megawatt hours (MWh) in the first quarter of 2023, a 26% decrease from Q4 2022. The grid-scale segment installed 1,553 MWh in Q1 2023, recording the second-straight quarterly decline and falling 33% below first quarter 2022 installations, according to a new report released today.

News Release

Should gas resource holders target LNG exports or blue ammonia?

15 June 2023

The acceleration of the energy transition means gas resource holders increasingly face a choice: follow the established pathway and develop new LNG export facilities or pivot into developing blue ammonia.

News Release

EV charger installations in the US are poised to grow fourfold by 2027

28 June 2023

Wood Mackenzie estimates the number of charging ports in the US to reach close to 18 million by 2027, with most chargers in the residential category. However, the residential market share will slightly decline in that period as the public and commercial EV charging segments grow.

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Search results: 5133

LNG exports drive expansion of North American natural gas market, adding 29 bcfd of production by 2033

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

New mid-caps in Brazil aim to increase mature asset reserves almost 1 billion boe by 2035

Long-duration energy storage projects attract more than US $58 billion investment over last three years

Trade and supply chain barriers delay impact of historic clean energy law

Q3 U.S. grid-scale energy storage market sets new record

Norway to earn over US$200 billion from oil and gas sector in 2023

US climate bill to boost domestic annual renewables investment to nearly US$114 billion by 2031

Veritas Capital completes acquisition of Wood Mackenzie

Wood Mackenzie Launches the Electric Vehicles and Battery Supply Chain Service at Mining Indaba 2023

Renewable power competitiveness in Asia Pacific worsened in 2022

US community solar growth slowed 16% in 2022; national market expected to double by 2027

Global hydrogen pipeline plummets in Q4, with only 1Mtpa of new projects announced

China drives global wind turbine orders to new record in 2022

US energy storage market continues to expand rapidly

Global policy support for nuclear expands to address challenges of reliable, low-carbon energy supplies

Wood Mackenzie appoints new Chief Financial Officer

California dwarfs all other VPP markets in North America

Global wind energy to top 1 TW threshold by the end of 2023

Oil and mining companies must adapt new strategies to deliver low-carbon transition

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

Kan discovery in Mexico’s shallow water one of the largest since 2020

Middle East gas production to jump by almost 20% by 2030

China’s solar exports booming, up 64% in 2022 despite global trade tensions

Global wind turbine order intake sets Q1 record, increases 27% YOY

Implications of OPEC+ meeting for H2 2023

Floating rig utilization rebounds to pre-COVID levels

US grid-scale energy storage installations record second-straight quarterly decrease

Should gas resource holders target LNG exports or blue ammonia?

EV charger installations in the US are poised to grow fourfold by 2027

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