Insight
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10 Pages

Could renewables be the Majors' next big thing?


Could renewables be the Majors' next big thing?

Report summary

Wind and solar are poised to radically reshape energy markets. Though the timing of the energy transition is highly uncertain, oil and gas companies need to build expertise, balance and optionality to hedge against any future erosion of the upstream value proposition. The Majors are leading the way in shaping strategies as they look to capture a piece of the action in this fast growing market.


What's included?

This report includes 2 file(s)

  • Could renewables be the Majors' next big thing? PDF - 346.34 KB 10 Pages, 1 Tables, 9 Figures
  • Could renewables be the Majors' next big thing.xls XLS - 162.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Executive summary
  • The Majors need a piece of the action in renewables
  • Large-scale investment needed to grow a meaningful position
    • Renewables value proposition is competitive
    • Returns versus upstream options
    • Cash flow visibility is a key attraction
  • Scale is a challenge – offshore wind is one answer
  • Renewables strategies will be polarised but increasingly prominent
  • Five key factors that will influence strategies
  • Early adopters will have structurally different portfolios by 2035
  • Appendix

In this report there are 10 tables or charts, including:

  • Executive summary
  • The Majors need a piece of the action in renewables
    • Total primary energy demand growth from 2015 to 2035
    • Renewables power market growth, 2015 to 2035
    • Evolution of real revenues from renewables and global oil and gas (base case and carbon constrained scenario)
  • Large-scale investment needed to grow a meaningful position
    • Production profile for Majors if renewables' market share matches oil and gas by 2035
    • Capex needed for renewables' market share to match oil and gas by 2035
    • Comparison of wind, solar and upstream IRRs*
    • Cash flow from base-case wind and solar projects
  • Scale is a challenge – offshore wind is one answer
    • Cash flow from scaled-up offshore wind vs large upstream growth projects
    • Cash flow from scaled-up solar PV and onshore wind vs medium-sized upstream growth projects
  • Renewables strategies will be polarised but increasingly prominent
  • Five key factors that will influence strategies
  • Early adopters will have structurally different portfolios by 2035
  • Appendix
    • Main assumptions by project
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