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News Release
US energy storage market shatters records in Q3 2020
- 02 December 2020
According to Wood Mackenzie and the U.S. Energy Storage Association’s (ESA) latest 'US Energy Storage Monitor' report, 476 megawatts (MW) of storage were deployed in Q3 2020. This is an increase of 240% over the previous high, set last quarter. 
News Release
Renewables in most of Asia Pacific to be cheaper than coal power by 2030
- 26 November 2020
Wood Mackenzie’s latest report shows most markets in Asia Pacific can expect to see cheaper levelised cost of electricity (LCOE) for renewables compared to coal by 2030.
News Release
Asia Pacific upstream transactions plunge to lowest this century
- 19 November 2020
Wood Mackenzie’s latest analysis shows 2020 is on track to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century.
Comment
Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration
- 19 November 2020
On Wednesday, 18 November, the United States held its region-wide Gulf of Mexico (GoM) Lease Sale 256 and received 105 bids from 23 participating companies, with high bids totalling US$121 million.
Comment
Trans Adriatic Pipeline (TAP) completes Europe’s Southern Gas Corridor
- 16 November 2020
The commissioning of the Trans Adriatic Pipeline's (TAP) initial 10 bcm per year capacity follows four and a half years of construction, EUR4.5 billion of capex and a variety of obstacles – especially in Italy, where the pipeline ends.
News Release
2-degree pathway could cut upstream gas investments by 65%
- 12 November 2020
A world on a 2-degree pathway could significantly reduce upstream gas investments by 65% through to 2040, says Wood Mackenzie.
News Release
Europe losing global energy storage battle as US and China race ahead
- 09 November 2020
Europe is set to lose the global energy storage race unless government auctions begin to incentivise flexible power, according to research from Wood Mackenzie.
News Release
Five consequences of a Biden administration for US energy
- 07 November 2020
Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change. He will enter the White House with a goal of setting the US on course for net zero greenhouse gas emissions by 2050 and will take the US back into the Paris climate agreement.
News Release
LME Week 2020: $1 trillion needed for key energy transition metals by 2035
- 21 October 2020
More than $1 trillion of investment will be needed in key energy transition metals - aluminium, cobalt, copper, nickel and lithium - over the next 15 years just to meet the growing demands of decarbonisation, according to Wood Mackenzie. This is almost double the figure invested over the previous 15 years.
News Release
Portfolio resilience and sustainability at the core of corporate concerns
- 20 October 2020
Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition kickstarted yesterday. Experts shared their views on how the energy sector is changing in light of the oil price crash, Covid-19 and the latest carbon-neutrality trends.
Comment
Chrysaor seals North Sea top spot with reverse takeover of Premier Oil
- 06 October 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
Hess sells Shenzi stake to BHP in US$505m deal
- 05 October 2020
Hess is selling its 28% working interest in the Shenzi field in US Gulf of Mexico to operator BHP.
News Release
Energy transition to be key driver of Australia’s upstream M&A
- 01 October 2020
The energy transition is expected to be a major driver of the future of Australia’s upstream M&A, says Wood Mackenzie.
News Release
Global energy storage capacity to grow at CAGR of 31% to 2030
- 30 September 2020
Wood Mackenzie’s latest report shows global energy storage capacity could grow at a compound annual growth rate (CAGR) of 31%, recording 741 gigawatt-hours (GWh) of cumulative capacity by 2030.
Comment
Devon seals WPX merger
- 28 September 2020
Speaking after the merger of Devon Energy and WPX Energy was announced this morning, Alex Beeker, principal analyst, corporate upstream, at Wood Mackenzie, said: “Tight oil consolidation has been underway for years, but extreme market volatility has slowed the process considerably. WTI has essentially hovered around US$40/bbl since June, with the stability likely closing the bid-ask spread. “We’ve expected Devon to make a move for some time. With US$1.5 billion in cash on its balance sheet (albeit earmarked for debt reduction), Devon is on a relatively strong financial footing. But Devon has been shrinking fast since its disposal program started in earnest about two years ago. The company’s net production is down 40% since 2018.”
News Release
Achieving 2-degree world remains Herculean task
- 24 September 2020
Wood Mackenzie’s annual Energy Transition Outlook, released today, says the world must combine coronavirus recovery efforts with massive investments in renewable energy and clean infrastructure if it is to limit global warming to 2 degrees or lower.
Comment
China pledges to be carbon-neutral by 2060
- 23 September 2020
On 22 September, China announced its ambition to be carbon-neutral by 2060. Wood Mackenzie experts weigh in on what this means.
News Release
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.
News Release
Indonesia’s straddle between gross split and cost recovery is positive step forward
- 17 September 2020
Introducing a choice between gross split and cost recovery for new licences is a positive step forward for Indonesia's upstream sector, says Wood Mackenzie.
News Release
UK can lead world in net zero energy technologies – but investment is critical
- 16 September 2020
Wood Mackenzie today delivered a comprehensive roadmap for the North Sea’s future to the OGTC, setting out the critical technologies needed to deliver an integrated net zero energy system on the UK Continental Shelf (UKCS), positioning the UK as a world-leader in the move to a low carbon world.
News Release
Key battery metals need more investment to meet climate targets
- 10 September 2020
According to Wood Mackenzie's Accelerated Energy Transition (AET) scenario, which sees global warming limited to 2.5 degrees (Celsius), the battery raw materials supply chain requires much more investment by 2030.
News Release
What could a Biden win mean for electric vehicle adoption in the US?
- 08 September 2020
The Biden campaign has previously underlined the important role electric vehicles (EV) will play in reducing greenhouse gas emissions in the US. To encourage EV adoption, the campaign has three key targets: deploying 500,000 new public EV charging outlets, restoring the full EV tax credit, and developing a new fuel economy target.
News Release
Biden loss would end hopes of US decarbonisation before 2050
- 01 September 2020
The outcome of the 2020 US presidential election will dictate the pace of decarbonisation for decades, according to new research from Wood Mackenzie.
News Release
Green hydrogen cost to halve by 2030 - a boost to South Korea’s hydrogen ambitions
- 20 August 2020
Onsite green hydrogen production cost is expected to halve by 2030, signalling a boost to South Korea’s hydrogen ambitions, says Wood Mackenzie.
News Release
Japan to exceed 2030 renewables target supported by US$100 billion investments
- 19 August 2020
Over US$100 billion of investment in wind and solar power plants are expected to push the renewables share to 27% of Japan’s generation mix by 2030, exceeding the country’s target, says Wood Mackenzie.
News Release
US electric truck sales set to increase exponentially by 2025
- 10 August 2020
There were just over 2,000 electric trucks on US roads at the end of 2019. This stock is expected to grow to over 54,000 by 2025, according to new analysis from Wood Mackenzie.
Comment
BP underscores commitment to energy transition
- 04 August 2020
Today’s BP strategy update marked a big step forward, filling in many of the blanks, including detailed guidance to 2030. It leaves stakeholders with a much clearer idea of where BP is headed over the next decade, how it will to get there and what that means for the value proposition.
News Release
China to add 251GW of new wind capacity by 2029
- 03 August 2020
China is expected to add 251 gigawatts (GW) of new wind capacity between 2020 and 2029, says Wood Mackenzie. The country’s wind power market could reach a cumulative grid connected capacity of 461GW by the end of the decade.
News Release
Asia Pacific’s oil demand to fall in 2020 but could rise 25% by 2040
- 28 July 2020
According to a new report by Wood Mackenzie, oil products demand in Asia Pacific is expected to fall by 1.8 million barrels per day (b/d) year-on-year in 2020.
News Release
India’s new deepwater supply could face pressure from low spot LNG prices
- 21 July 2020
India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.

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