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The global energy storage market will expand 13-fold by 2024, according to new research from Wood Mackenzie Power & Renewables.
Saudi Aramco’s decision to issue a $10 billion bond underscores how serious the company is about transforming itself into an international powerhouse across the oil and gas value chain, from upstream to petrochemicals.
The European Union's (EU) proposal to introduce a 90% collection target for PET beverage bottles by 2029 is unlikely to be met without significant investment in infrastructure and waste management collection, according to Wood Mackenzie Chemicals.
The U.S. petrochemicals industry is experiencing an investment renaissance, Steve Zinger, Wood Mackenzie Chemicals Senior Vice President, said during his appearance at AFPM's 2019 International Petrochemical Conference.
Amazon’s decision to move towards lightweight flexible plastic mailers over its traditional cardboard boxes will likely set a trend for the rest of the industry, according to Wood Mackenzie Chemicals’ recent ‘Q1 2019 Flexible Packaging Global Market Overview’.
When President Mauricio Macri took power in Argentina in 2015, one of his flagship energy policy programmes was to “normalise” the country’s gas and power markets. Macri set in train moves to gradually reduce government intervention, restoring free market dynamics and pricing driven by competition. The progress the Macri administration has achieved in reshaping the gas market environment has remarkable, helped in no small part by the prolific shale gas resources of the Vaca Muerta.
Following the announcement by Indonesia's upstream regulator SKK Migas on a gas discovery in the country, Wood Mackenzie's research director Andrew Harwood provides a commentary.
Today, Friday 15th February 2019, Vale announced there was a fire affecting a conveyor belt system at its distribution centre in Malaysia. Vale anticipated that this would result in a 10 to 15 day halt in operations and noted that a planned 10 day shut down for maintenance was already scheduled for this period.
The Lower 48 E&P sector is under pressure from investors demanding greater capital discipline, positive free cash flow and increasing returns. There’s a tug-of-war between value and volume, and value has emerged as the winner. The Lower 48’s independents, who traditionally pursued growth at all costs, must now rein in their impulses and focus on delivering returns to their shareholders. How does this affect their 2019 spending plans, and how do they manage volatile oil prices?
Developers in the US purchased sufficient equipment to qualify 6.6GW of new wind power capacity in 2018 for 60% production tax credits (PTC) under the Internal Revenue Service’s (IRS) safe harbor provision law, according to recent analysis carried out by Wood Mackenzie Power & Renewables. Accordi...
After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.
The Oil & Gas Authority's (OGA) decision to launch the 31st supplementary offshore licensing round, focusing on the Greater Buchan Area offers a material opportunity for players active in the UK North Sea
By the end of 2017, offshore wind had only been deployed commercially across seven markets, with UK and Germany accounting for 68 percent of the grid-connected capacity. However, according to a recent report from Wood Mackenzie Power and Renewables, global offshore wind power demand will increase...
Following Ascend Performance Materials' decision to declare a force majeure on hexamethylene diamine (HMD), Wood Mackenzie Chemicals Head of Thermoplastics, Quentin de Carvalho, commented:
Sanctioning the Tortue FLNG project, offshore Mauritania/Senegal is a 'major milestone' for BP and its partners
More than 680GW of new wind power capacity will come online globally over the 10-year outlook, according to new research by Wood Mackenzie Power & Renewables. Wood Mackenzie recently upgraded its Global Wind Power Market Outlook Update: Q4 2018 by 2% compared to the outlook published in the third...
Wind turbines are set to become even bigger and better in an effort to maintain consistent downward trends of Levelized Cost of Electricity (LCOE), according to new research by Wood Mackenzie Power & Renewables. “Rapid technology developments have been a large driver of elevating wind to a compet...
Commenting on the news that Chevron Phillips Chemical will cease paraxylene production in the U.S at the end of this year, Gordon Haire, Wood Mackenzie Chemicals Research Director, said:
On 3 December 2018, Qatar announced it will withdraw from OPEC on 1 January 2019, putting an end to its 57-year membership of the producers’ cartel. Qatar, which said it intends to focus on its gas production, made the announcement ahead of the 6 December OPEC meeting.
In a newly published report, Wood Mackenzie notes that the deepwater industry appears in good health, following a sustained cost reduction through the downturn. However this hard work is in danger of being undone, as impending cyclical cost inflation could raise break-even costs once again.
According to a new report from Wood Mackenzie Power & Renewables, an increasing number of major utilities have made strategic plays by investing in a relatively new European energy storage market over the past two years
Upstream oil and gas companies are accelerating the implementation of big data applications and digital technologies to help transform their businesses. But how close is industry to achieving this? Where does the US Lower 48 stand in this transformation? A new study drills down into digitalisation in the upstream sector and identifies the technologies and applications being employed today and evaluates their potential impact.
In the past 10 years, explorers in sub-Saharan Africa have turned up more giant discoveries than any other region. But converting volume into value is undoubtedly sub-Saharan Africa’s Achilles heel.
What next for the oil market as the US reimposes sanctions on Iran?
Commenting on UK Chancellor Philip Hammond's Budget announcement of a new tax on the manufacture and import of plastic packaging that contains less than 30% recycled plastic, Wood Mackenzie Head of PET, Philip Marshall, said:
Wood Mackenzie forecasts that global oil and gas development spend needs to increase by around 20% to meet future demand growth and ensure companies sustain production next decade.
New research from global natural resources consultancy Wood Mackenzie indicates Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027.
After a decade of stellar growth, Wood Mackenzie forecasts that solar demand in the Asia-Pacific will decline for the first time this year. Compared to 2017, the region's solar demand will dip 18% to 59 GW in 2018 due to declining installations in China, India and Japan.
Onshore wind energy in Eastern Europe, Russia and the Caspian will experience a compound annual growth rate of 9% from 2018 to 2027, according to new research by Wood Mackenzie Power & Renewables.
Chinese operators remain the leaders of the global wind asset market, according to new research from Wood Mackenzie Power & Renewables.
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