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If high interest rates persist, transitioning to a net zero global economy will be even harder and more costly. The higher cost of borrowing negatively affects renewables and nascent technologies, compared to more established oil and gas, and metals and mining sectors, which remain somewhat insulated.
Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
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.
Australia’s oil and gas industry needs to urgently fast-track the creation of energy “super basins” to provide a pathway to greater sustainability and cut emissions, according to Anne Forbes, Upstream Research Analyst at Wood Mackenzie.
As companies in the energy and natural resource sector struggle to find the balance between satisfying shareholder returns and meeting stakeholder low-carbon demands, new strategies are emerging that could be the catalyst to drive capital allocation decisions toward growth and closing valuation gaps, according to “Fuelling Change” a new Horizons report from Wood Mackenzie.
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
Colder temperatures across Europe have increased month-on-month heating demand by 20% in December, but behavioural change in households and services means the amount of gas used in these sectors is 16% lower than previous average consumption patterns for similar temperatures says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
Wood Mackenzie, the leading provider of decision intelligence for the world’s natural resources sector, has launched Lens Gas & LNG, a new data analytics solution that offers a uniquely integrated view that connects markets and assets on a global scale.
Scope 3 emissions account for 80-to-95% of total carbon emissions from oil and gas companies. But only a small number of these firms have set Scope 3 net zero ambitions, according to a recent report from Wood Mackenzie.
Potential low-carbon (green or blue) hydrogen demand from the global refining sector could reach 50 million tonnes per annum (Mtpa) by 2050, says Wood Mackenzie.
Five key lessons from today's energy crisis on how to manage the shift to lower-carbon sources while strengthening energy security
Achieving the 2°C goal of the Paris Agreement will require more than simply avoiding carbon. To cap global warming at 1.5°C or even 2°C, carbon removal will be essential. Research from global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq:VRSK), shows the key to effective large-scale carbon removal is unlocking potential economies of scale through basin-wide carbon capture and storage (CCS), effectively providing a community answer to a global problem.
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