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Corporate renewable PPAs playing bigger role in decarbonising Asia Pacific

18 八月 2021

Corporate renewable power purchase agreements (PPA) are starting to play a bigger role in Asia Pacific’s decarbonisation efforts, says Wood Mackenzie.

News Release

Action to achieve Paris climate goals will upend oil and gas prices

15 四月 2021

If the world acts decisively to limit global warming to 2°C by 2050, the scale of change will revolutionise the energy industry. Progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets. Oil demand will shrink, and with it, so will the power of major oil producers. Gas demand will remain resilient, but business models will need to evolve.

News Release

Carbon pricing plans ‘could transform upstream oil and gas economics’

31 三月 2021

At present, few countries require producers to either pay a carbon tax or participate in an emissions trading scheme (ETS). But as governments seek to meet decarbonisation targets, that could soon change. Carbon charges are likely to come, and they will transform the upstream sector, affecting both asset values and the industry’s economics.

News Release

Global offshore wind O&M market to grow 16% annually to US$12 billion by 2029

09 三月 2021

Wood Mackenzie’s latest report shows that the global offshore wind operations and maintenance (O&M) market is expected to grow 16% annually to reach US$12 billion (€10 billion) by 2029.

Comment

Qatar Petroleum takes FID on North Field East

09 二月 2021

Qatar Petroleum announced that it has taken final investment decision (FID) on the North Field East project.

News Release

ConocoPhillips swoops on Concho in $9.7bn all-stock deal

19 十月 2020

Speaking after ConocoPhillips announced it will take over Concho Resources in a $9.7 billion all-stock deal, Robert Clarke, vice president, Lower 48 upstream, at Wood Mackenzie, said: “The combination is remarkable. Just in scale, ConocoPhillips is adding enough Permian production to nip at the heels of ExxonMobil’s massive programme."

Comment

Shell dividend cut frees up US$10bn

30 四月 2020

Anglo-Dutch supermajor Shell today slashed its dividend by 66%, the first time the company has cut cash distributions to shareholders since World War II. The annual pay-out will fall from US$14.9 billion to US$5.1 billion, freeing up US$10 billion of capital.

News Release

Increased uncertainty to colour upstream sector’s decision-making in 2020

09 一月 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’s wind repowering market to boom from 2023

17 十二月 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

Malaysia offers significant gas opportunities

24 六月 2019

According to research by natural resources consultancy Wood Mackenzie, Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia, primarily due to the need for additional gas supply.

News Release

Major policy changes in China to drive long-term solar installation growth

14 五月 2019

The solar market in China could see long-term benefits from major government policy changes that move the country away from federal feed-in tariffs and embrace unsubsidised business models.

News Release

LNG primed for US$200bn capex boom

25 四月 2019

The liquefied natural gas (LNG) boom is back. Over the next two years, almost 90 million tonnes per annum (mmtpa) of LNG is expected to take final investment decision (FID) and start construction. New research from Wood Mackenzie show that capital expenditure - for both LNG plant and upstream infrastructure - will total more than US$200 billion between 2019 and 2025. This will provide a major boost to engineering, procurement and construction (EPC) contractors and other providers along the supply chain.

News Release

Exploration’s back in the black

04 二月 2019

After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.

News Release

Is deepwater ready for cost inflation?

27 十一月 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.

Comment

Merger does the business for Wintershall and DEA

28 九月 2018

Wintershall and DEA set to merge to create independent exploration and production company

Comment

Market implications of Chinese tariffs on US LNG

03 八月 2018

Today China announced retaliatory tariffs on $60 billion worth of American imports, in response to the Trump administration's latest trade threats. The list included a 25% tariff on LNG.

News Release

Can upstream cost savings stick?

15 十二月 2017

The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.

News Release

Global wind turbine order intake breaks record in Q2

12 九月 2022

Strong activity in China pushed global wind turbine order intake to 43 gigawatts (GW) in quarter two of 2022, a new record, and up 36% from year-ago levels. This equates to an estimated $18.1 billion, according to new analysis from Wood Mackenzie.

News Release

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

06 十二月 2022

Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said “The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise, given the uncertainty in the market over the impact of the 5 December EU Russia crude oil import ban and the G7 price cap. In addition, the producers group faces downside risk from the potential for weakening global economic growth and China’s zero Covid policy.”

News Release

Global hydrogen pipeline plummets in Q4, with only 1Mtpa of new projects announced

23 二月 2023

The total global announced capacity for hydrogen projects reached 71.4 million tonnes per annum (Mtpa), but 2022 falls short of becoming a record year according to latest analysis from Wood Mackenzie.

News Release

Wood Mackenzie appoints new Chief Financial Officer

27 三月 2023

Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Simon Crowe to its global executive leadership team as Chief Financial Officer (CFO), effective 27th March.

News Release

Global wind energy to top 1 TW threshold by the end of 2023

11 四月 2023

The global wind energy market will pass the one terawatt (TW) threshold for installed capacity by the end of 2023, according to the latest market outlook 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 七月 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

Saudi Aramco’s shift to abandon its 13 million b/d capacity target likely to be absorbed by the market

01 二月 2024

Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in 2030, the shift to a 12 million b/d target from 13 million b/d should be absorbed in the market and not cause a tightening in the supply and demand balance this decade.”

News Release

Global upstream FIDs on track to double in 2017

17 七月 2017

In the first half of the year, the industry has already witnessed 15 project sanctions, almost comparable to project sanctions in the whole of 2016.

News Release

Revival of deepwater industry: best projects closing gap

30 三月 2017

The deepwater industry has emerged from the downturn leaner and more competitive with US tight oil

News Release

IMO 2020 regulation could cost shippers extra US$60 billion a year

28 二月 2017

The 0.5 wt% sulphur cap for bunker fuels could have far-reaching repercussions

News Release

Russia supply reduction via Nord Stream poses risks to gas storage refill in Europe

17 六月 2022

Russia reducing flows via Nord Stream, outages at Freeport and French nuclear downgrades have sent the European natural gas market into an upward spiral with more volatility still to come. And while summer consumption will be covered, analysts at Wood Mackenzie, a Verisk business (Nasdaq: VRSK) say storage refill is at risk unless additional demand and supply measures are taken.

News Release

Global top 10 solar PV inverter vendors account for 82% of market share

08 七月 2022

Global top 10 solar photovoltaic (PV) inverter vendors shored up 82% of market share in 2021, increasing by 2 percentage points compared to 2020, says Wood Mackenzie.

News Release

China’s LNG imports to see unprecedented decline in 2022

19 七月 2022

China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it began LNG imports, says Wood Mackenzie.

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