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News Release
Has M&A created value in the North Sea?
- 04 September 2019
Since the turn of the decade, it’s been a frenetic period for M&A in the North Sea. Against a backdrop of oil price volatility and a dramatically changing corporate landscape, activity reached record levels. But have acquisitions created value so far? Wood Mackenzie recently analysed 55 of the largest North Sea deals announced between 2012 and 2018 from today’s vantage point to quantify underlying value creation.
News Release
Wind turbine order capacity hit a record high in Q2 2019
- 04 September 2019
Global wind turbine order intake increased 111% YoY, overtaking the previous record set in Q4 2018 by 13.2GW, according to new research from Wood Mackenzie.
Comment
BP sells Alaska business to Hilcorp in US$5.6bn deal
- 27 August 2019
Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making progress with their divestment campaigns. This will mean long-held assets and territories will be let go. BP made such a deal today with its sale of all US Alaska assets to privately-owned Hilcorp."
Comment
TechnipFMC demerger 'a bold step to reposition for the long-term'
- 27 August 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
Motiva enters US chemical industry
- 20 August 2019
Motiva, a 100%-owned subsidiary of Saudi Aramco, has signed an agreement to acquire full ownership interest in Flint Hills Resources Port Arthur, LLC.
Comment
Sinopec bolsters coal-to-chemicals investments in China
- 14 August 2019
Sinopec will take over the 800-ktpa coal-to-olefins (CTO) project in Erdos from State Power Investment Mengxi Energy.
Comment
ExxonMobil poised to sell ‘attractive’ UK North Sea portfolio
- 13 August 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
Jethro-1 delivers the goods for Tullow
- 13 August 2019
The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than 100 million barrels of recoverable oil, subject to appraisal.
Comment
Portugal's world record-breaking solar PV auction
- 12 August 2019
Portugal is now the country with the world’s lowest-cost solar PV contract. The lowest tariff awarded in the country’s first solar PV auction – held in July 2019 – was just €14.76/MWh, or US$16.54/MWh at today’s exchange rates. This narrowly beats the recent US$16.95/MWh contract awarded in Brazil.
Comment
Aramco takes slice of Reliance’s refining and petchems businesses
- 11 August 2019
Saudi Aramco is to set to take a 20% stake in Reliance Industries' refining and petrochemical businesses.
News Release
Murphy Oil reaches FID in Gulf of Mexico deepwater
- 08 August 2019
Murphy Oil has reached a Final Investment Decision (FID) regarding the King's Quay facility, Khaleesi/Mormont and Samurai developments in deepwater Gulf of Mexico. Commenting, Mfon Usoro, Wood Mackenzie analyst said: “Murphy’s sanction of the trio of projects including the King’s Quay facility, K...
Comment
Huntsman Corporation and Indorama Ventures strike $2billion chemical intermediates deal
- 08 August 2019
On 7th August 2019, Huntsman Corporation announced that it has entered into a definitive agreement to sell its chemical intermediates businesses to Indorama Ventures. The total deal is valued at $2.076 billion.
News Release
Data consortiums signal the future of oil and gas
- 07 August 2019
Wood Mackenzie believes that discovering new value requires going beyond isolated datasets. The solution lies in data consortiums – cooperative platforms where companies can safely share quality data.
News Release
Brazil gas market reform unlocks investment across value chain
- 06 August 2019
Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain, and boost investment in the country’s pre-salt.
News Release
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.
News Release
India leads with lowest renewable cost in Asia Pacific
- 29 July 2019
India has emerged as the market leader with the lowest renewable energy cost in Asia Pacific, new research from Wood Mackenzie found.
News Release
Top ten wind turbine OEMs to spend €2.3bn on R&D by 2023
- 23 July 2019
Research and development (R&D) expenses among the world's top ten wind turbine OEMs have more than doubled in the last four years, reaching €1.6bn in 2018. This figure is expected to increase to €2.3bn by 2023.
News Release
WoodMac and P2 Energy Solutions join forces to deliver data-driven insight to US energy sector
- 15 July 2019
Wood Mackenzie, the global natural resources research consultancy, announces today its partnership with P2 Energy Solutions to better analyse current and future well spacing.
News Release
Tsingshan Indonesia shakes up stainless steel markets in South East Asia
- 15 July 2019
Shockwaves from Tsingshan's new stainless steel hub in Indonesia are reverberating across South East Asia and beyond, according to Wood Mackenzie
Comment
China’s textile production rises on fears of worsening trade tensions
- 15 July 2019
According to research by Wood Mackenzie, Chinese textile producers are increasing production as fears grow that the trade war with the US will hurt exports of apparel and other textile products as soon as the fourth quarter of 2019.
News Release
Dominican Republic launches first licensing round
- 10 July 2019
The Dominican Republic today launched its first licensing round, putting 14 blocks across its on- and offshore basins up for bid.
Comment
Petrogas and Hitec Vision snap up Total UK asset package in $635m deal
- 10 July 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.
News Release
Achieving U.S. recycled plastics goals by 2030 could cost $3bn
- 10 July 2019
Up to $3 billion in additional capital investment would be required to achieve current U.S. recycled plastics content goals by 2030, according to new analysis by Wood Mackenzie Chemicals
Comment
CP Chem and Qatar Petroleum to build USGC petrochemical project
- 10 July 2019
Chevron Phillips Chemical (CP Chem) and Qatar Petroleum today announced that they have signed an agreement to jointly pursue the development of a new petrochemical complex on the US Gulf Coast.
News Release
New pipeline needed to meet surge in demand for Permian crude
- 08 July 2019
Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 barrels per day (b/d) by the end of next decade, according to new research from global natural resources consultancy Wood Mackenzie.
News Release
Global wind power capacity to grow by 60% over next 5 years
- 08 July 2019
Global wind power capacity additions are expected to sit at an annual average of 71GW from 2019-2023 and 76GW from 2024-2028, according to new research from Wood Mackenzie Power & Renewables.
News Release
Mexico to lead Central America, Caribbean wind power growth
- 03 July 2019
More than 9.5 gigawatts (GW) of new wind power capacity will be commissioned in Central America and the Caribbean through 2028, driven by central planning authorities in smaller markets and the attractive value proposition of the technology in Mexico, new research from Wood Mackenzie found.
News Release
OPEC+ aims for balance as it rolls over output curbs
- 02 July 2019
Speaking as the OPEC and OPEC+ meetings ended in Vienna today, Ann-Louise Hittle, vice president, Macro Oils, at global natural resources consultancy Wood Mackenzie, said: “The agreement to roll over production restraint was a foregone conclusion after the green light from Russia’s president, Vladimir Putin, at the G20 meeting for continued production restraint."
News Release
Mitsui and JOGMEC join Arctic LNG-2
- 01 July 2019
Arctic LNG-2 is a step closer to final investment decision (FID) with the entry of Japanese companies Mitsui and government-linked Japan Oil, Gas and Metals National Corporation (JOGMEC) into the project.
News Release
New European solar installations to double over next 3 years
- 26 June 2019
New solar installations within the European market will double in the next 3 years to reach a level of approximately 20GW/year. Total installed capacity in the region will surpass 250GW by 2024, according to new research from Wood Mackenzie Power & Renewables.

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