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Energy transition represents a US$14 trillion uncertainty for upstream oil and gas

20 May 2021

The energy transition represents US$14 trillion worth of uncertainty for upstream oil and gas, according to a new report by Wood Mackenzie.

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Australia's pathway to net-zero emissions by 2050

20 April 2021

On 19 April, Australian PM Scott Morrison's commented on the country's road to net-zero emissions.

News Release

Action to achieve Paris climate goals will upend oil and gas prices

15 April 2021

If the world acts decisively to limit global warming to 2°C by 2050, the scale of change will revolutionise the energy industry. Progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets. Oil demand will shrink, and with it, so will the power of major oil producers. Gas demand will remain resilient, but business models will need to evolve.

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Santos announces Barossa project FID

30 March 2021

Santos has sanctioned the Barossa project, which extends the life of Darwin LNG (DLNG) beyond 2040.

News Release

Global offshore wind O&M market to grow 16% annually to US$12 billion by 2029

09 March 2021

Wood Mackenzie’s latest report shows that the global offshore wind operations and maintenance (O&M) market is expected to grow 16% annually to reach US$12 billion (€10 billion) by 2029.

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OPEC+ surprises market as it extends output curbs

04 March 2021

OPEC+ took the market by surprise when it decided to roll over its quota, saying that rather than anticipate a demand recovery, the group would wait to see it actually recover. The market was expecting a substantial increase in production because a tightening in the supply and demand balance is already evident.

News Release

Significant increase in carbon pricing is key in 1.5-degree world

04 March 2021

Wood Mackenzie’s latest scenario report reveals that a significant increase in carbon pricing is needed to achieve the goals of limiting the rise in global temperatures to within 1.5 degrees Celsius.

Comment

Qatar Petroleum takes FID on North Field East

09 February 2021

Qatar Petroleum announced that it has taken final investment decision (FID) on the North Field East project.

Comment

Myanmar coup and impact on oil and gas industry

04 February 2021

Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.

News Release

Resilience and sustainability to be core oil and gas themes of 2021

19 January 2021

Wood Mackenzie’s latest analysis reveals that sustainability and resilience will be at the heart of the oil and gas industry story in 2021.

News Release

Future of gas in energy transition to be defined in 2021

14 January 2021

2021 will be a defining year for the gas and LNG industry, says Wood Mackenzie in its latest outlook report.

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China’s trucked LNG spot prices hit three-year high

12 January 2021

Spot prices of trucked LNG in China were highly volatile last month.

News Release

Over three quarters of new LNG supply could be impacted in 2-degree world

09 December 2020

Wood Mackenzie’s latest report shows that over three quarters or 77% of new LNG supply are at risk under a 2-degree scenario.

Comment

OPEC+ agrees to increase output after tense negotiations

07 December 2020

Tense negotiations and rumours of a rift between Saudi Arabia and UAE ended with a compromise deal for OPEC+ on 3 December 2020. Despite concerns on oversupply for Q1 2021, the group agreed to increase output by 500,000 b/d in January. Production restraint is set at minus 7.2 million b/d instead of the Q4 2020 level of minus 7.7 million b/d.

News Release

Scrap metals to remain underutilised despite availability and rising demand

26 November 2020

Scrap metals demand growth is expected to outpace primary metals over the next two decades. However, it will remain underutilised compared to its overall availability, says Wood Mackenzie.

News Release

Consolidation to become major theme in E&P’s transition

17 November 2020

Consolidation among the Independents will accelerate in the face of energy transition, says Wood Mackenzie.

Comment

South Korea announces carbon neutrality pledge

29 October 2020

South Korea becomes the latest Asian economy to announce its net-zero carbon emissions pledge.

News Release

ConocoPhillips swoops on Concho in $9.7bn all-stock deal

19 October 2020

Speaking after ConocoPhillips announced it will take over Concho Resources in a $9.7 billion all-stock deal, Robert Clarke, vice president, Lower 48 upstream, at Wood Mackenzie, said: “The combination is remarkable. Just in scale, ConocoPhillips is adding enough Permian production to nip at the heels of ExxonMobil’s massive programme."

News Release

PV module innovations to help drive down solar costs in coming decade

19 October 2020

The global solar industry has experienced tremendous growth in the past decade as the annual demand for solar rose year after year while the cost of solar declined significantly. In the 2020s, solar module costs will continue to fall, albeit at a much slower rate. Instead, improvement in module efficiency and power class will propel the declining capex trend forward and ultimately lower the solar levelised cost of energy (LCOE), new research from Wood Mackenzie found.

News Release

China’s carbon neutrality bill could hit over US$5 trillion

08 October 2020

Wood Mackenzie’s latest analysis shows over US$5 trillion of investments would be needed for China to reach its pathway for carbon-neutrality by 2060.

News Release

China’s gas power plants bleed under pressure from lower tariffs and trade war

15 September 2020

China’s gas power plants are struggling to stay afloat as they face mounting pressure from lower tariffs and the ongoing trade war, says Wood Mackenzie.

News Release

Up to 7 mmtpa of spare capacity available at North West Shelf by 2027

07 September 2020

Wood Mackenzie’s latest report shows that the North West Shelf (NWS) LNG project could have up to 7 million tonnes per annum (mmpta) of spare capacity available by 2027. This equates to 40% of the project’s nominal capacity.

News Release

Global regas capacity under construction hits 10-year high at 144 mmtpa

02 September 2020

Global regasification (regas) capacity under construction is expected to hit a 10-year high at 144 million tonnes per annum (mmtpa) in 2020, says Wood Mackenzie.

News Release

China’s PTA producers look to futures to weather market volatility

16 July 2020

China’s purified terephthalic acid (PTA) producers have been using the futures market to price PTA in the spot market, hedge against risks and manage inventory. This has allowed many to stay profitable, despite market uncertainty and disruption brought by the coronavirus pandemic, says Wood Mackenzie.

News Release

Total named industry’s most-admired explorer in WoodMac survey

06 July 2020

French major Total has been named the upstream industry’s most-admired explorer, an accolade awarded in conjunction with Wood Mackenzie’s industry-leading annual Exploration Survey.

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Shell's US$22bn write down 'signals fundamental change'

30 June 2020

Royal Dutch Shell said on 20 June it would write off assets worth up to $22 billion on the back of weakening oil and gas demand due to the coronavirus pandemic and a weaker energy price outlook.

News Release

NOCs to slash over a quarter of exploration budgets on average in 2020

20 May 2020

National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.

Comment

Shell dividend cut frees up US$10bn

30 April 2020

Anglo-Dutch supermajor Shell today slashed its dividend by 66%, the first time the company has cut cash distributions to shareholders since World War II. The annual pay-out will fall from US$14.9 billion to US$5.1 billion, freeing up US$10 billion of capital.

Comment

Arrow Energy sanctions Surat Gas Project

17 April 2020

Arrow Energy sanctions Surat Gas Project

News Release

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

16 April 2020

Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.

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Search results: 2454

Energy transition represents a US$14 trillion uncertainty for upstream oil and gas

Australia's pathway to net-zero emissions by 2050

Action to achieve Paris climate goals will upend oil and gas prices

Santos announces Barossa project FID

Global offshore wind O&M market to grow 16% annually to US$12 billion by 2029

OPEC+ surprises market as it extends output curbs

Significant increase in carbon pricing is key in 1.5-degree world

Qatar Petroleum takes FID on North Field East

Myanmar coup and impact on oil and gas industry

Resilience and sustainability to be core oil and gas themes of 2021

Future of gas in energy transition to be defined in 2021

China’s trucked LNG spot prices hit three-year high

Over three quarters of new LNG supply could be impacted in 2-degree world

OPEC+ agrees to increase output after tense negotiations

Scrap metals to remain underutilised despite availability and rising demand

Consolidation to become major theme in E&P’s transition

South Korea announces carbon neutrality pledge

ConocoPhillips swoops on Concho in $9.7bn all-stock deal

PV module innovations to help drive down solar costs in coming decade

China’s carbon neutrality bill could hit over US$5 trillion

China’s gas power plants bleed under pressure from lower tariffs and trade war

Up to 7 mmtpa of spare capacity available at North West Shelf by 2027

Global regas capacity under construction hits 10-year high at 144 mmtpa

China’s PTA producers look to futures to weather market volatility

Total named industry’s most-admired explorer in WoodMac survey

Shell's US$22bn write down 'signals fundamental change'

NOCs to slash over a quarter of exploration budgets on average in 2020

Shell dividend cut frees up US$10bn

Arrow Energy sanctions Surat Gas Project

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

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