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Implications of OPEC+ meeting for H2 2023

07 June 2023

The decision by OPEC+ to extend current production cuts and an additional voluntary 1 million b/d reduction for July from Saudi Arabia should provide support for prices in the rest of 2023, according to Wood Mackenzie.

News Release

Floating rig utilization rebounds to pre-COVID levels

12 June 2023

Rig utilization has returned to pre-COVID levels, driving rates up 40 percent in the past year as demand is forecast to increase another 20 percent from 2024-2025, according to a recent report from Wood Mackenzie.

News Release

US grid-scale energy storage installations record second-straight quarterly decrease

14 June 2023

Across all segments of the industry, the U.S. energy storage market added 2,145 megawatt hours (MWh) in the first quarter of 2023, a 26% decrease from Q4 2022. The grid-scale segment installed 1,553 MWh in Q1 2023, recording the second-straight quarterly decline and falling 33% below first quarter 2022 installations, according to a new report released today.

News Release

Should gas resource holders target LNG exports or blue ammonia?

15 June 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.

News Release

TotalEnergies named most-admired upstream explorer in Wood Mackenzie’s 15th annual Exploration Survey

27 June 2023

French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey.

News Release

EV charger installations in the US are poised to grow fourfold by 2027

28 June 2023

Wood Mackenzie estimates the number of charging ports in the US to reach close to 18 million by 2027, with most chargers in the residential category. However, the residential market share will slightly decline in that period as the public and commercial EV charging segments grow.

News Release

Australia’s emissions-intensive mines face unforeseen future under new Safeguard Mechanism Scheme Reforms

07 July 2023

The adoption of the single "industry average" as presented in the revised Safeguard Mechanism Scheme, will see some clear winners and losers in the Australian mining sector.

News Release

Canadian LNG has potential to meet growing Asian demand

10 July 2023

Speaking at the LNG2023 conference in Vancouver, Dulles Wang, Director, Americas Gas & LNG at Wood Mackenzie said that with the alignment of several market dynamics, Canada could be positioned to play a much bigger role in global LNG exports.

News Release

Norway’s 800km Barents Sea gas pipeline back on agenda

11 July 2023

A proposed US $5 billion export route linking gas fields in the Barents Sea in Northern Norway to European markets could help alleviate the continent’s dependence on liquified natural gas (LNG) imports according to a new report by Wood Mackenzie, a global insight business for renewables, energy and natural resources.

News Release

South American onshore wind power to expand 122% through 2032

12 July 2023

Free market expansion will be one of the main drivers of onshore wind growth in the next 10 years in South America. The total wind market is set to add 41.2 gigawatts (GW) of onshore projects through 2032, based on a new analysis from Wood Mackenzie.

News Release

North American renewable natural gas market could expand tenfold by 2050 to reach 4 bcfd

17 July 2023

Driven by new government incentives for the transportation sector, renewable natural gas (RNG), or biomethane, saw tremendous growth in 2022, with 60 million cubic feet per day (mmcfd) of new production capacity added, according to a new report from Wood Mackenzie.

News Release

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

20 July 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.

News Release

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

14 August 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.

News Release

US$ 27 billion investment required to mobilise global offshore wind supply chain

17 August 2023

The global offshore wind supply chain will require US$ 27 billion of secured investment by 2026 if it is to meet a fivefold growth in annual installations (excluding China) by 2030, according to latest Horizons report by Wood Mackenzie, a global insight business for renewables, energy and natural resources.

News Release

FLNG sector thriving amid projects boom

31 August 2023

The right economic and geo-political conditions mean that the outlook for the global floating liquified natural gas (FLNG) project sector is bullish according to a new report by Wood Mackenzie, a global insight business for renewables, energy and natural resources.

News Release

H1 global wind turbine orders hit new high at 69.5 GW

31 August 2023

Global wind turbine order intake reached new highs in H1, with 69.5 gigawatts (GW) of activity, a 12 percent increase year-over-year, according to a new analysis from Wood Mackenzie.

News Release

New Wood Mackenzie analysis warns world heading for 2.5C global warming without immediate action

14 September 2023

The world is currently on a 2.5-degree Celsius warming trajectory according to Wood Mackenzie’s ‘Energy Transition Outlook’ report, a milestone assessment of the global journey towards a lower carbon future. If transformative action is not taken now, the Paris Agreement goal to limit the average temperature increase to below 1.5-degrees Celsius will likely be missed.

News Release

Low demand could see 20% European gas price fall in summer 2024 compared to current projections

20 September 2023

European gas prices are set to fall 20% by mid-2024, compared to the current forward price curve, despite the market recent tightening due to the extensions of gas field maintenance schedules in Norway and strikes at key Australian liquefied natural gas (LNG) fields according to a new report by Wood Mackenzie.

News Release

Global wind power cumulative installed capacity to hit 2.38TW in 2032

20 September 2023

Increased activity in Western markets and Africa will drive a ten-year compound annual growth rate of 10.1% for grid-connected wind power, leading to 2.38 terawatts (TW) of cumulative installed capacity at the end of 2032, according to Wood Mackenzie.

News Release

Europe’s Carbon Border Adjustment Mechanism to establish new rules of global trade

21 September 2023

The Carbon Border Adjustment Mechanism (CBAM), a policy that will require producers of goods imported into the European Union (EU) to pay an emissions levy, should fast-track decarbonisation efforts, but also result in prices rising across several sectors sharply - according to the latest Wood Mackenzie Horizons report.

News Release

U.S. grid-scale energy storage installations set new record in Q2 2023

25 September 2023

Across all segments of the industry, the U.S. energy storage market added 5,597 megawatt hours (MWh) in the second quarter of 2023, a new quarterly record. The grid-scale segment led the way with a record-breaking 5,109 MWh in Q2, beating the previous record in Q4 2021 by 5%, according to a new report released today.

News Release

Top 15 Global PV O&M firms commanded 115GWdc of monitored solar capacity in 2022

02 October 2023

The top 15 global PV O&M providers expanded their overall portfolio for a total volume of 115 gigawatts direct current (GWdc) in 2022, an annualized growth of 13%, according to Wood Mackenzie.

News Release

ADNOC’s gas self-sufficiency could cost over $40 billion

10 October 2023

The Abu Dhabi National Oil Company (ADNOC) will need to invest more than $40 billion in order for the United Arab Emirates (UAE) to attain gas self-sufficiency due to the complex nature of the country’s gas resources according to a Wood Mackenzie report.

News Release

US Department of Energy to invest US$7 billion into seven regional hydrogen hubs

17 October 2023

The announcement by the U.S. Department of Energy (DOE) to invest US$7 billion across seven Regional Clean Hydrogen Hubs (H2Hubs) signifies a significant step towards creating a low-carbon hydrogen economy, according to Wood Mackenzie.

News Release

Global energy storage integrator market grows increasingly competitive in 2022

30 October 2023

The global Battery Energy Storage Systems integrator market has grown increasingly competitive in 2022, with the top five global system integrators accounting for 62% of overall BESS shipments.

News Release

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

07 November 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.

News Release

Australia sees record volume of upstream M&A deals, despite regulatory turmoil

16 November 2023

Australia sees record volume of upstream M&A deals, despite regulatory turmoil

News Release

President Elect Milei set to shake up Argentina’s oil industry

28 November 2023

Addressing the election of Javier Milei as President of Argentina, Adrian Lara, principal analyst, said “Elected President Javier Milei and his advisors are signalling the importance the oil and gas sector has in their plans for the overall Argentinian economy, however, their success in deregulating the sector and attracting more investment is still predicated on an effective and timely correction of the macroeconomic imbalances of the country.”

News Release

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

29 November 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.

News Release

Southern cone gas and power market to invest US$46 billion in gas production and US$94 billion in new power supply through 2033

30 November 2023

Driven by advances in batteries and lower costs, solar will outpace wind growth rates and become the leading technology for expansion over the next ten years in Argentina, Brazil, and Chile. The total solar market is set to add 48 gigawatts (GW) of utility and distributed projects, while wind will add 31 GW of onshore projects through 2033, with the total investment in new power supply leading to a cumulative capacity of 400 GW by 2033, based on a new analysis from Wood Mackenzie.

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Search results: 5319

Implications of OPEC+ meeting for H2 2023

Floating rig utilization rebounds to pre-COVID levels

US grid-scale energy storage installations record second-straight quarterly decrease

Should gas resource holders target LNG exports or blue ammonia?

TotalEnergies named most-admired upstream explorer in Wood Mackenzie’s 15th annual Exploration Survey

EV charger installations in the US are poised to grow fourfold by 2027

Australia’s emissions-intensive mines face unforeseen future under new Safeguard Mechanism Scheme Reforms

Canadian LNG has potential to meet growing Asian demand

Norway’s 800km Barents Sea gas pipeline back on agenda

South American onshore wind power to expand 122% through 2032

North American renewable natural gas market could expand tenfold by 2050 to reach 4 bcfd

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

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

US$ 27 billion investment required to mobilise global offshore wind supply chain

FLNG sector thriving amid projects boom

H1 global wind turbine orders hit new high at 69.5 GW

New Wood Mackenzie analysis warns world heading for 2.5C global warming without immediate action

Low demand could see 20% European gas price fall in summer 2024 compared to current projections

Global wind power cumulative installed capacity to hit 2.38TW in 2032

Europe’s Carbon Border Adjustment Mechanism to establish new rules of global trade

U.S. grid-scale energy storage installations set new record in Q2 2023

Top 15 Global PV O&M firms commanded 115GWdc of monitored solar capacity in 2022

ADNOC’s gas self-sufficiency could cost over $40 billion

US Department of Energy to invest US$7 billion into seven regional hydrogen hubs

Global energy storage integrator market grows increasingly competitive in 2022

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

Australia sees record volume of upstream M&A deals, despite regulatory turmoil

President Elect Milei set to shake up Argentina’s oil industry

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

Southern cone gas and power market to invest US$46 billion in gas production and US$94 billion in new power supply through 2033

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