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What does the US-China trade deal mean for refiners - and for the market?
- 20 January 2020
After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by US$52.4 billion above 2017 levels over the next two years. What could it mean for the oil market?
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2020 could mark start of downcycle for China’s petrochemical industry
- 15 January 2020
In a recently published report, Wood Mackenzie predicts the start of a downcycle in China’s petrochemical industry. A supply overhang has already hit the country’s paraxylene (PX) market, with olefins and polyolefins markets almost certain to face the same.
News Release
Cheaper electric cars could help Tesla hit targets by mid-2020s
- 09 January 2020
In Q3 2019, Tesla announced its plans to capture 1% of all car sales globally. With its current portfolio of luxury cars, the company is unlikely to meet that target by the end of the decade. However, if it launches an entry-level car priced at $25,000, Wood Mackenzie projects that Tesla will meet the 1% target as early as 2024.
News Release
Increased uncertainty to colour upstream sector’s decision-making in 2020
- 09 January 2020
The level of uncertainty and anxiety among upstream producers and supply chain has rarely been higher. In 2020, decision-making will be more heavily influenced by sentiment surrounding the energy transition, political upheaval and trade disputes than in previous years. This adds to the ever-present risks of unexpected supply-demand imbalance, niche cost inflation or a global economic downturn. What are the biggest trends to watch in the upstream oil and gas business in 2020? Fraser McKay, head of upstream analysis at Wood Mackenzie, sees five key themes.
News Release
China to dent global polyester growth in 2020
- 09 January 2020
Chinese polyester market growth is expected to sit at just below 3% in 2020, a marked decline from the strong growth seen between 2018 and 2019. This dip in performance is mainly due to slashed growth for bottle-grade PET, according to Wood Mackenzie.
News Release
Can Europe cope if Russia shuts off Ukraine gas transit?
- 19 December 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."
News Release
Asia Pacific upstream - 5 themes to watch in 2020
- 19 December 2019
Wood Mackenzie has identified five themes related to project sanctions, exploration, M&A, energy transition and IMO 2020 that will impact Asia Pacific’s upstream industry in 2020.
News Release
China’s wind repowering market to boom from 2023
- 17 December 2019
According to a new report by Wood Mackenzie, China’s wind repowering market is expected to take off from 2023. More than 21 gigawatts (GW) (cumulative capacity) of China’s wind turbine fleet is expected to be repowered over the next 10 years (2019-2028).
News Release
Project delays and cancellations to dampen US microgrid growth through 2021
- 16 December 2019
Project cancellations and delays connecting planned projects to the electric grid will lead the US microgrid market to contract 17% from its 2018 peak by the end of this year, according to new research from Wood Mackenzie.
News Release
Anchor's aweigh as Chevron gives nod to US Gulf of Mexico development
- 12 December 2019
Chevron has given the green light to the Anchor development in deepwater US Gulf of Mexico. This is Chevron’s first greenfield final investment decision as an operator since its sanction of Big Foot and Jack/St Malo in 2010.
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Talos shells out US$640m for Gulf of Mexico assets
- 12 December 2019
Talos Energy, in its pursuit of growth in the US Gulf of Mexico, has announced a series of purchases, worth $640 million assets in the region
News Release
Was 2019 the year of recycled PET?
- 10 December 2019
2019 has been a year of successes within the recycled PET (RPET) industry.
News Release
US storage industry to build on strong third quarter with response to power shutoffs
- 03 December 2019
Installers have already shared anecdotes about growing residential storage volumes in California, and Wood Mackenzie expects a large uptick early next year as marketing efforts for solar-plus-storage started earlier this year bear fruit.
News Release
Australia’s east coast gas prices to bottom out over next two years
- 20 November 2019
In the latest Australia east coast gas market research, Wood Mackenzie projects that the LNG netback price for Australia’s east coast could bottom out to A$6.50 – A$9 per gigajoule (GJ) over the next two years.
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European Investment Bank to cease funding fossil fuel projects
- 15 November 2019
The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.
News Release
Top three western wind turbine OEMs to control 60% of market by 2028
- 11 November 2019
After a decade of fragmentation, the top five global turbine OEMs are strengthening their hold on the industry. By 2028, they are expected to control three quarters of the sector.
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Majors cautious as Petrobras takes prize in Brazil’s TOR round
- 06 November 2019
Brazil’s largest-ever auction of oil licences – the Transfer of Rights round – saw state-controlled Petrobras walk away with the biggest prizes, the Búzios and Itapu blocks.
News Release
Advanced lithium-ion technologies on track for record annual investment
- 01 November 2019
More than $350 million was invested in advanced lithium-ion technologies during the first half of 2019.
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Alpek acquires UK PET facility from Lotte Chemical
- 30 October 2019
ALFA Mexico has announced that its subsidiary, Alpek, has signed an agreement with Lotte Chemical Corporation to acquire its 100% stake in Lotte Chemical UK Limited. The deal includes a PET asset, with an installed capacity of 350 ktpa, in Wilton, England.
News Release
Packaging industry’s sustainability drive good news for BOPP film
- 23 October 2019
The global Biaxially Oriented Polypropylene (BOPP) film market has seen demand grow by just under 5% per annum over the last five years. The main driver of growth has been the demand for flexible packaging, particularly in China and South East Asia, according to Wood Mackenzie’s latest ‘BOPP Film Global Supply Demand Report’.
News Release
Renewables growth may close green hydrogen cost gap by 2030
- 22 October 2019
Green hydrogen production can compete with fossil fuel-based hydrogen by 2030 in Australia, Germany and Japan, should renewable power prices reach US$30 per megawatt hour (MWh), new research from global natural resources consultancy Wood Mackenzie indicates.
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Brazil licensing round sets record as Majors eye November's prizes
- 10 October 2019
Brazil's Licensing Round 16 set a record – the BRL 8.9 billion (US$2.2 billion) in signature bonuses is the highest yet for a Brazilian round. Of the 36 blocks on offer, 12 were awarded, all in the prolific offshore Campos and Santos basins. Malaysia’s Petronas, Qatar’s QPI, Spanish producer Repsol and the US’ Chevron all bid high. QPI and Petronas were the biggest spenders of the day, as well as Petrobras. Only Campos and Santos basin blocks were awarded, with frontier acreage failing to attract interest.
News Release
China’s pipeline reform: expect higher gas prices in the short-term
- 09 October 2019
New research from Wood Mackenzie indicates that the creation of a national pipeline company in China is a step in the right direction but will result in higher end-user prices in the short-term as the country tries to balance institutional reform with implementation risks.
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Total begins construction of third solar power plant in Japan
- 08 October 2019
Total Solar International has begun construction of Miyagi Osato Solar Park, a large-scale solar plant in Japan.
News Release
Global top 10 solar asset owners now hold 22 GW of capacity
- 04 October 2019
According to Wood Mackenzie’s inaugural global solar photovoltaic (PV) asset ownership ranking (excluding China)*, the world’s top 10 solar PV asset owners now hold over 22 gigawatts (GW) of cumulative solar capacity. Collectively, the top 10 added around 2.5 GW of new capacity in 2018.
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ExxonMobil farewells Norway with US$4.5bn Vår Energi deal
- 27 September 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.
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Japan to invest additional $10 billion in global LNG infrastructure projects
- 26 September 2019
Japan is planning to invest an additional $10 billion to develop infrastructure mainly in new and developing markets in the India sub continent and Southeast Asia, reflecting a shift in priorities.
News Release
Wind power outlook in Eastern Europe and Russia upgraded by 17% QoQ over next decade
- 25 September 2019
An auction-triggered awakening in Poland and a growing confidence in developers' ability to comply with local content requirements in Russia led to a 17% wind power capacity increase QoQ in Eastern Europe and Russia, according to new research from Wood Mackenzie.
News Release
Global automotive industry to drive industrial textile demand
- 23 September 2019
Airbags are a core and growing part of the industrial textile portfolio. Current global airbag yarn demand sits at 164 ktpa and is expected to reach 237 ktpa by 2025, according to a new report from Wood Mackenzie.
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ExxonMobil to sell upstream assets in Gippsland Basin
- 18 September 2019
ExxonMobil putting its entire Gippsland Basin upstream portfolio up for sale represents big news for the Australian upstream and gas market.

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