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

• 16 1月 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.

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

• 23 2月 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.

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

• 11 4月 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.

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

• 20 4月 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.”

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

• 23 5月 2023

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

Should gas resource holders target LNG exports or blue ammonia?

• 15 6月 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.

US$500 billion (2023 terms) investment in global oil and gas asset development enough to meet peak demand in 2030s

• 20 7月 2023

Despite concerns about underinvestment in upstream, peak oil and gas demand can be met in the 2030s without a substantial increase to current annual asset development investment levels of US$500 billion in 2023 terms, according to a new Horizons report from Wood Mackenzie.

Top 10 solar PV inverter vendors account for 86% of global market share

• 14 8月 2023

The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.

China to hold over 80% of global solar manufacturing capacity from 2023-26

• 07 11月 2023

After investing over US$130 billion into the solar industry in 2023, China will hold more than 80% of the world’s polysilicon, wafer, cell, and module manufacturing capacity from 2023 to 2026.

Emissions-free supply expected to rise to 85% by 2030 in Europe

• 29 11月 2023

The European power market will see its carbon intensity plummet as the region pursues ambitious climate-energy policies but flexibility is key to enable this change, according to Peter Osbaldstone, Research Director, Europe Power & Renewables at Wood Mackenzie.

Europe can satisfy gas demand for now – but longer-term outlook is uncertain

• 23 2月 2022

Despite fears that Europe may face a gas crunch following the cancellation of Nord Stream 2, analysts at global energy consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) say Europe is currently in a better situation than it was at the start of the 2021/22 winter.

Coal prices spike as Russia-Ukraine crisis escalates

• 03 3月 2022

The Russia-Ukraine crisis has shocked the coal and the broader energy markets, with spikes in Newcastle prices observed in recent days, says Wood Mackenzie.

Chrysaor snaps up ConocoPhillips' North Sea assets in US$2.7bn deal

• 18 4月 2019

Chrysaor on 18 April 2019 agreed to buy ConocoPhillips’ North Sea assets in a US$2.7 billion deal. The purchase will make Chrysaor the top producer in the UK in 2019 and keep it among the UK's largest producers for the next few years.

Delek in US$2bn swoop on Chevron’s North Sea assets

• 30 5月 2019

Israel’s Delek Group confirmed today that it will buy US major Chevron’s North Sea assets in a US$2 billion deal.

Total brings Culzean on stream, ahead of time and under budget

• 11 6月 2019

French major Total today brought the high-pressure/high-temperature (HP/HT) Culzean field, in the UK central North Sea, on stream, ahead of schedule and under budget.

Turkey nets largest-ever find with Tuna-1 gas discovery

• 21 8月 2020

A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural gas imports has also continued to grow.

Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply

• 01 4月 2020

In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year.

US$210bn of new spend in firing line as players target cost cuts

• 02 4月 2020

The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.

No-Deal Brexit won’t sound death knell for UK refiners

• 23 8月 2019

Despite speculation that a No-Deal Brexit would have a severe impact on the UK refining industry, Wood Mackenzie’s analysis indicates that while the sector’s dynamics would shift and margins will narrow, it would not be crippled.

ExxonMobil farewells Norway with US$4.5bn Vår Energi deal

• 27 9月 2019

ExxonMobil is selling its Norwegian business to Eni/HitecVision-owned Vår Energi for US$4.5 billion, Norway’s biggest deal since the Statoil-Norsk Hydro merger in 2006.

Shell dividend cut frees up US$10bn

• 30 4月 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.

Lift off as Sputnik partners hit oil

• 20 8月 2019

Commenting on Equinor, OMV and Petoro’s Sputnik discovery, Jamie Thompson, an analyst with Wood Mackenzie’s North Sea upstream team, said: “Despite being small and remote – it lies more than 300 kilometres from shore in the northern Hoop area of the Barents Sea - Sputnik has a high chance of commerciality. The aptly-named field could be a satellite of the pre-FID 440 million-barrel Wisting development, which is just 30 kilometres from Sputnik.

Can Europe cope if Russia shuts off Ukraine gas transit?

• 19 12月 2019

The gas transit and supply contracts between Russia and Ukraine expire at 10 am on 1 January 2020 (Moscow time) – the future of Ukraine transit remains the largest uncertainty for global gas markets in 2020. Murray Douglas, director, European gas at global natural resources consultancy Wood Mackenzie, said: “Ukraine remains the major transit route for Russian gas into Europe – over 76 billion cubic metres (cm) will be transported via Ukraine this year."

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

• 30 6月 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.

Long-term LNG set to remain a buyers’ market

• 15 6月 2021

The liquefied natural gas (LNG) long term contract market and LNG spot market are travelling in opposite directions. The long-term buyers’ market is only likely to end when it becomes clear that demand will outstrip new supply available from Qatar and Russia, global energy consultancy Wood Mackenzie said.

Avoiding pand-ammonia: how to kick-start a global low-carbon ammonia industry

• 17 11月 2022

Ammonia shapes modern life in every way imaginable. As the basis for all nitrogen fertilisers, industrial ammonia has truly changed the world.

European Energy Service

Stay on top of key fundamentals and get to the bottom of Europe's dynamic energy markets with our European Energy Service.

European Natural Gas Outlook

• 25 6月 2025

Six key themes from the London Power & Renewables Briefing

• 10 7月 2023

From the implications of nodal pricing to offshore wind supply chain trends: key themes from the London event.

Could an expansion of Western sanctions derail Yamal LNG?

• 28 8月 2024

The implications of the EU's ban on the transshipment of Russian LNG and what could come next