Oil and gas exploration spending to recover from historic lows, average $22B per annum through 2027

• 16 August 2023

Exploration spend (excluding appraisal) will recover from historic lows to average US$22 billion per annum in real terms over the next five years, according to a new report from Wood Mackenzie.

South America to add 160 GW of solar PV capacity by 2034

• 05 March 2025

Wood Mackenzie's latest report on the South American solar PV market reveals that the region will add 160 GWdc of solar capacity between 2025 and 2034, driven by diversification efforts, growing power demand, and favourable system economics. The report "South America Solar PV Market Outlook 2025" provides a comprehensive analysis of the region's solar energy landscape, power sector dynamics, 10-year solar PV installation outlook, and policy impacts across key markets.

Energy Pulse: in brief (11th August)

• 11 August 2023

Standout oil well performance in New Mexico, Saudi Aramco confirms its new dividend plan, the EU backs CCUS projects, the latest on superconductivity hopes, and more

Our top takeaways from the Solar & Energy Storage Summit 2024

• 01 July 2024

Analyst highlights from our annual conference

How are global NOCs tackling the energy transition?

• 29 March 2022

The energy transition strategies of most NOCs lag the Majors. High prices and rising intergovernmental pressure create a golden opportunity to switch gears.

European power and renewables: what to look for in 2025

• 21 January 2025

This year will be one of contradictions in European power and renewables markets.

Sub-Saharan Africa upstream: 5 things to look for in 2025

• 07 January 2025

From exploration in the deepwater Atlantic margin to LNG momentum and licensing rounds, a look at key themes this year.

US PET and aromatics markets face major restructuring if plastics recycling goals met by 2030

• 10 September 2019

Meeting current US recycled plastics content goals by 2030 would significantly alter the region's PET resin and upstream aromatics markets, according to a recent analysis from Wood Mackenzie.

2020 to be year of transition for global olefins industry

• 20 January 2020

Wood Mackenzie expects the combined capacity expansion of base olefins - ethylene, propylene and butadiene - to hit unprecedented levels of around 20 million tonnes in 2020. This represents an increase of 6% on 2019 levels.

Powering down: lithium battery supply exceeds demand

• 12 September 2023

With ongoing oversupply issues, the battery market is in flux. As lithium-ion production continues to grow around the world, can demand keep up?

Asia-Pacific battery costs keep hitting record lows through 2029, according to Wood Mackenzie

• 14 October 2025

Annual project cost reduction pace will slow from current 14% decline to 6% in coming years, then to just 1% by 2029, as global lithium supply tightens

Woodside announces Trion field FID, Mexico’s first deepwater oilfield development

• 22 June 2023

Addressing Woodside’s announced final investment decision (FID) of Trion field, Diego Alviso Becerril, Senior Research Analyst, Upstream Research LATAM, said “This will be Woodside’s first incursion into Mexican waters and Mexico’s first deepwater oil field development. With first oil scheduled for 2028, the development concept considers a US$7.2 billion investment to recover 479 million barrels of equivalent (mmboe).”

How will the EU’s CBAM impact global iron and steel?

• 27 March 2024

The Carbon Border Adjustment Mechanism has big implications for international trade patterns

Competition increases in the residential solar-plus-storage battery market

• 12 December 2023

As the residential solar-plus-storage market continues to grow, competition has increased amongst battery vendors, with new manufacturers gaining market share in recent years, according to a new analysis from Wood Mackenzie

Southeast Asia’s wind power needs US$14 billion new investments by 2030

• 22 September 2020

Southeast Asia’s wind power sector requires at least US$14 billion of investments by 2030, says Wood Mackenzie. This is to support the 8.9 gigawatts (GW) of new wind power capacity that Wood Mackenzie expects to be added between 2020 and 2029.

Five trends that will cut global emissions in 2021

• 27 January 2021

Even a global pandemic couldn’t keep climate change from climbing the corporate agenda in 2020, and that momentum will only build in 2021. Which trends will have the biggest impact on extractive industries like oil and gas and mining in the year ahead? Read our analysts’ predictions.

Chinese NEV and HEV sales to rise over 15-fold by 2035

• 23 March 2021

Sales of China’s new energy vehicles (NEV) and hybrid electric vehicles (HEV) combined are expected to rise 15-fold or more by 2035 with their share in total new car sales exceeding 80%, says Wood Mackenzie.

Santos to acquire ConocoPhillips northern Australian assets

• 14 October 2019

Santos announced today its plans to acquire ConocoPhillips’s northern Australian portfolio. This is a logical and attractive transaction for a number of reasons.

Lead: things to look for in 2024

• 25 January 2024

Opportunities as well as threats will be highlighted in 2024

OPEC+ set to make its choice

• 05 December 2019

OPEC+ gathers today and tomorrow to decide if the group should roll over its production restraint agreement or consider deeper cuts. The current agreement to reduce output by 1.2 million b/d runs to end March 2020. Ann-Louise Hittle, vice president, Macro Oils, said: “The idea of deeper cuts has been broached, but we consider that less likely to reach full agreement than a rollover of the standing agreement. The need for production restraint is clear. Slower US production growth is not enough to offset the ongoing imbalance between global supply and demand.”

Russian refining outages surge on Ukraine drone attacks: three key questions answered

• 21 March 2024

Russian waterborne product exports see substantial cuts, will crude loadings be next?

2020 gets off to a bumpy start for the refining sector

• 21 January 2020

This year may prove to be a strong one for the refining sector, but 2020 has had a difficult start. Wood Mackenzie expects some turbulence this year as a number of factors come together – geopolitical risk, the impact of IMO 2020 regulations, and US tight oil production slowing, among them.

Trump's art of the OPEC deal

• 13 April 2020

In this episode of our Asia-Pacific energy podcast, we discuss this weekend's OPEC agreement.

European residential storage market at economic tipping point

• 06 August 2019

The European residential storage market deployment base is expected to grow five-fold to 6.6 GWh by 2024, according to new research from Wood Mackenzie.

BP asset write-down 'is significant for sector'

• 16 June 2020

Speaking after BP announced it was writing down as much as $17.5 billion when it reports its second quarter results, Luke Parker, vice president, corporate analysis, said: “The impairment shouldn’t come as a big surprise, but the implications – near-term and long-term – are significant.”

OPEC+, Covid-19 and energy transition – 3 themes impacting oil markets and refining in 2021

• 28 January 2021

Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.

Wood Mackenzie’s new data technology transforms upstream valuations

• 09 October 2019

Natural resources research and consultancy Wood Mackenzie launches the world’s first Global Upstream Valuation solution, enabling organisations from the largest oil and gas companies to global banks to value assets around the globe in seconds.

Methanol

Gain insights into the methanol market within the context of the value chain for strategic planning and investment identification.

What are the energy transition technologies to watch in 2025?

• 31 July 2025

Our annual update spotlights the technologies having the most transformational impact – and the regions leading the pack on technological supremacy.

Recycled PET

Understand the commercial and strategic drivers of Recycled PET supply and demand, price forecasts and leading market trends.