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Industry leaders to speak at Wood Mackenzie’s European Power & Renewables Conference

24 三月 2022

Join executives from EDF Energy, Renewable Energy Institute and Société Générale as Europe’s energy sector gears up for critical transformation

News Release

Resilience and sustainability to be core oil and gas themes of 2021

19 一月 2021

Wood Mackenzie’s latest analysis reveals that sustainability and resilience will be at the heart of the oil and gas industry story in 2021.

Comment

Turkey nets largest-ever find with Tuna-1 gas discovery

21 八月 2020

A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural gas imports has also continued to grow.

Comment

Shell's US$22bn write down 'signals fundamental change'

30 六月 2020

Royal Dutch Shell said on 20 June it would write off assets worth up to $22 billion on the back of weakening oil and gas demand due to the coronavirus pandemic and a weaker energy price outlook.

Comment

US$210bn of new spend in firing line as players target cost cuts

02 四月 2020

The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.

News Release

Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply

01 四月 2020

In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year.

News Release

US storage industry to build on strong third quarter with response to power shutoffs

03 十二月 2019

Installers have already shared anecdotes about growing residential storage volumes in California, and Wood Mackenzie expects a large uptick early next year as marketing efforts for solar-plus-storage started earlier this year bear fruit.

Comment

Rosebank deal 'cements Equinor's commitment to the UK'

01 十月 2018

Norway's Equinor set to buy Chevron's 40% operating stake in the Rosebank field, offshore West of Shetland

Comment

Transocean’s $2.7bn Ocean Rig deal ‘a winner’

03 九月 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.

Comment

US LNG deal 'could be significant for relationship with Europe'

27 七月 2018

What does the EU's agreement to buy US LNG - announced after a meeting between European Commission president Jean-Claude Juncker and US President Donald Trump - mean for producers and consumers?

News Release

OPEC producers key to world supply through to 2040

16 七月 2018

Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.

Comment

UK plastic bottle deposit scheme vital to changing consumer behaviour

28 三月 2018

Commenting on the UK Government's plans to introduce a plastic bottle deposit scheme, Helen McGeough, PCI Wood Mackenzie, Senior Consultant, commented:

Comment

EU's Plastics Strategy May be Missed Opportunity

16 一月 2018

Follwoing the EU's pledge to make all plastic packaging recyclable by 2030, Helen McGeough, PCI Wood Mackenzie Senior Consultant, commented

News Release

EU will miss 2050 climate targets by a decade, without urgent action

22 二月 2024

Despite ambition across its members, the EU won’t meet climate targets until well into the 2060s, as focus shifts to energy security and economic stability. Renewables and electrification uptake is due to progress steadily, but nascent technologies, such as hydrogen and carbon capture, need urgent action in the forms of investment, demand certainty, and policy commitment.

News Release

Norway to earn over US$200 billion from oil and gas sector in 2023

16 一月 2023

Norway’s oil and gas operations in the North Sea will continue to churn out cash as the Scandinavian country maintains high production to help support Europe’s energy crisis according to a report by Wood Mackenzie.

News Release

Should gas resource holders target LNG exports or blue ammonia?

15 六月 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

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

07 十一月 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

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

29 十一月 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

Global energy storage set to triple in 2021

07 十月 2021

New research from global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK), shows annual global storage deployments will nearly triple year-on-year, reaching 12 GW/28 GWh in 2021. Across the world, economic recovery is top of mind for politicians, with renewable energy integration taking centre stage. Despite disruptions from the Covid-19 pandemic, Wood Mackenzie’s Global Energy Storage Outlook, released today, forecasts nearly 1 TWh of total demand from 2021-2030.

News Release

High carbon tax could erode up to 60% of Asia’s refining earnings

05 十月 2021

A high carbon tax could erode up to 60% of Asia’s total refining earnings by 2027, says Wood Mackenzie, at the Global Energy Summit Focus Week.

Comment

What would an EU carbon border adjustment mechanism mean?

14 七月 2021

The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”

News Release

UK accelerates plan to cut carbon emissions

20 四月 2021

Today's announcement outlining the UK's plan to set a legally binding 78% greenhouse gas emissions reduction target (on 1990 levels) through its Sixth Carbon Budget is another significant milestone on the road to its goal of net-zero emissions by 2050.

Comment

Chrysaor seals North Sea top spot with reverse takeover of Premier Oil

06 十月 2020

Privately-held UK Independent Chrysaor is buying London-listed Premier Oil by way of reverse takeover. Premier’s US$2.7 billion of debt and hedging liabilities will be repaid and cancelled via a US$1.232 billion cash payment, plus Chrysaor shares.

Comment

BP sells petrochemicals business to INEOS in US$5bn deal

29 六月 2020

Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.

Comment

Shell 'to be net-zero company by 2050'

16 四月 2020

Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.

News Release

Oil price rout: which supply is most at risk of shut-in?

27 三月 2020

The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent crude has plunged to less than US$30/bbl. This will have a significant impact on currently producing fields and future supply. How low can the price go before different sources of production become uneconomic? Where are production shut-ins most likely? Can governments influence the result?

Comment

TechnipFMC demerger 'a bold step to reposition for the long-term'

27 八月 2019

In 2017 Technip and FMC Technologies completed one of the hallmark oilfield service company mergers of the cycle. The business plans to split in the first half of 2020 – but not back into Technip and FMC - rather into ‘upstream’ and ‘mid/downstream’.

Comment

ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio

13 八月 2019

Commenting on reports that ExxonMobil is preparing to sell its UK North Sea portfolio, Neivan Boroujerdi, principal analyst, North Sea upstream, at Wood Mackenzie, said: “A proposed UK exit was expected. We value the portfolio at around US$2 billion.

Comment

Petrogas and Hitec Vision snap up Total UK asset package in $635m deal

10 七月 2019

French Major Total has sold its stakes in 10 UK North Sea fields to Petrogas NEO, a new joint venture between Petrogas and HitecVision, for US$635 million. The asset package includes operated and non-operated assets, which will produce 25,000 barrels of oil equivalent per day (boe/d) this year. The assets hold over 30 million barrels of oil equivalent in remaining reserves.

Comment

Total hits the jackpot at Glendronach

24 九月 2018

Total has made a major gas discovery in the UK's West of Shetland region, hitting an estimated 1 trillion cubic feet of gas

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