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News Release
Global offshore wind capacity will increase nearly sixfold over the next decade
- 28 January 2019
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...
Comment
Ascend Performance Materials declares force majeure on HMD
- 08 January 2019
Following Ascend Performance Materials' decision to declare a force majeure on hexamethylene diamine (HMD), Wood Mackenzie Chemicals Head of Thermoplastics, Quentin de Carvalho, commented:
Comment
Full steam ahead for Tortue FLNG
- 21 December 2018
Sanctioning the Tortue FLNG project, offshore Mauritania/Senegal is a 'major milestone' for BP and its partners
Comment
Chevron loses second major production asset in South East Asia
- 13 December 2018
Following today's announcement by Thailand's Department of Mineral Fuels (DMF) that PTTEP has won the auction round for both G1/61 (Erawan) and G2/61 (Bongkot) PSCs after putting an aggressive bid on the gas price and the profit share, Wood Mackenzie's research analyst Jean-Baptiste Berchoteau shares some insights.
News Release
More than 680GW of new wind power to come online over next decade
- 11 December 2018
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...
News Release
New technology investments to boost growing global wind market
- 06 December 2018
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...
Comment
Chevron Phillips Chemical to cease US paraxylene production
- 06 December 2018
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:
Comment
Qatar quits OPEC
- 03 December 2018
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.
News Release
Is deepwater ready for cost inflation?
- 27 November 2018
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.
News Release
European energy storage markets heating up with total deployments nearing global highs
- 20 November 2018
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
News Release
How digitalisation transformed the US Lower 48
- 12 November 2018
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.
Comment
Explorers hit the jackpot in sub-Saharan Africa
- 06 November 2018
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.
Comment
Plastics recycling tax likely to increase cost of plastics packaging in short-to medium term
- 29 October 2018
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:
News Release
Upstream players need to boost spending to meet future demand
- 24 October 2018
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.
News Release
Asia-Pacific offshore wind capacity to rise 20-fold in next decade
- 24 October 2018
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.
News Release
Asia-Pacific solar demand to decline first time this year
- 24 October 2018
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.
News Release
Years of growth ahead for Eastern European onshore wind
- 23 October 2018
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.
News Release
Chinese wind asset owners keep their grip on global top 25
- 19 October 2018
Chinese operators remain the leaders of the global wind asset market, according to new research from Wood Mackenzie Power & Renewables.
News Release
Is the end of the global energy transition closer than we think?
- 17 October 2018
Is the Global Energy Transition on track? A new report by Wood Mackenzie, Thinking global energy transitions: the what, if, how and when, explores the forces shaping the energy transition, and pinpoints the sustainability tipping point – when the world shifts from the age of oil and gas to the age of power and renewables – will arrive by 2035.
Comment
New wave of growth on the horizon for Asia-Pacific's oil and gas sector
- 15 October 2018
Asia-Pacific's oil and gas sector looks set to rebound over the next 12 months as rising demand, stronger commodity prices and an uptick in M&A activity bring greater confidence to the region. Wood Mackenzie predicts rising Asian LNG demand, the return of China's NOCs to growth mode and new appetite for upstream investment to be key factors influencing the sector, not only Asia-Pacific, but also globally into 2019.
Comment
India's renewables to contribute 13% of power generation mix in five years, double the amount today
- 15 October 2018
India’s renewables target of 175 GW capacity (100 GW of solar and 75 GW of wind) by 2022 is an ambitious endeavour. Even with significant cost declines, Wood Mackenzie expects about 76% of the target to be met by 2022 and this would still be a noteworthy achievement. Wood Mackenzie's solar analyst Rishab Shrestha explains why.
Comment
Rosebank deal 'cements Equinor's commitment to the UK'
- 01 October 2018
Norway's Equinor set to buy Chevron's 40% operating stake in the Rosebank field, offshore West of Shetland
News Release
West Europe PET bottle recovery grows, but challenges for RPET supply chain remain
- 01 October 2018
The total volume of PET bottles collected in West Europe during 2017 was near 2 Mt, compared to an estimated 3.2 Mt of bottles placed in the market, according to Wood Mackenzie Chemicals' latest report on the RPET market in West Europe.
Comment
Merger does the business for Wintershall and DEA
- 28 September 2018
Wintershall and DEA set to merge to create independent exploration and production company
Comment
Qatar Petroleum's LNG plans get even bigger
- 27 September 2018
Qatar Petroleum announces plans for a fourth LNG megatrain
Comment
Chevron in talks to sell Rosebank stake
- 27 September 2018
US major Chevron has confirmed it is in talks to sell its 40% operating stake in the Rosebank field, offshore West of Shetland
News Release
Private equity's future in US Gulf of Mexico deepwater
- 19 September 2018
With many Independents and Majors chasing onshore shale and white hot Brazil and Mexico, the US Gulf of Mexico, once the coveted jewel of the oil industry, has become a lower investment priority in recent years. This has opened the space for private equity-backed companies who have stepped up to the plate, turned pennies into dollars and shown they have what it takes to compete.
Comment
China's retaliatory tariff on US LNG
- 19 September 2018
In the 12 months up until June 2018, China was the second largest buyer of US LNG, accounting for approximately 3 mmtpa of US LNG, with Shell being the largest seller. However as the US-China trade dispute escalated, Chinese buyers have gradually reduced purchases of US LNG.
News Release
Permian producers hedge their bets against pipeline delays
- 11 September 2018
Permian producers increased their 2020 oil-basis hedge positions by 431% during Q2. Such a sharp rise suggests producers perceive a higher risk that key pipeline projects fail to start up by 2019 target dates, according Wood Mackenzie's latest analysis of oil and gas activity.
Comment
Transocean’s $2.7bn Ocean Rig deal ‘a winner’
- 03 September 2018
Rig provider Transocean is set to merge with Ocean Rig in a $2.7 billion deal, a move Wood Mackenzie says is a winning one for the rig market.

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