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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.”
Comment
ArcelorMittal to take green steel honours with Sestao plan
- 13 七月 2021
European steelmaker ArcelorMittal today announced plans to become the world’s first steelmaker to produce fossil-free steel using virgin iron. ArcelorMittal, the world’s second largest steelmaker and Europe’s largest producer, plans to produce fossil-free steel via a process known as H-DRI-EAF.
Comment
Nigerian lawmakers pass petroleum bill – but there is still work to do
- 02 七月 2021
Speaking after the Petroleum Industry Bill (PIB) was passed by the Nigerian National Assembly on 1 July, Mansur Mohammed, head of West Africa content on Wood Mackenzie’s sub-Saharan Africa upstream research team, said: “The Senate and House each passed different versions of the bill, which will now require reconciliation before it is sent to the president for assent into law. So there is still outstanding work to do before the PIB becomes law, but we see momentum behind the bill.”
Comment
Supply outlook tightens as OPEC+ prepares to meet
- 01 七月 2021
As OPEC+ meets on 1 July, oil prices are supported by tightening oil market fundamentals for the second half of 2021. Global natural resources consultancy Wood Mackenzie forecasts total oil demand to rise 5.9 million barrels per day (b/d) year-on-year for 2021.
Comment
NEA Gas Forum - the future of gas is Asia and the prize is large
- 09 六月 2021
Wood Mackenzie experts discussed key drivers of Asia Pacific gas markets at the Northeast Asia Gas Forum today.
Comment
Australia releases Budget 2021
- 12 五月 2021
Wood Mackenzie experts comment on the recently announced Australia Budget 2021.
Comment
Colonial Pipeline cyberattack may benefit European refiners
- 10 五月 2021
The 2.5 million barrels per day (b/d) Colonial Pipeline moves roughly 45% of the US East Coast's supply of gasoline, diesel, and jet fuel from the Gulf Coast. The duration of the outage following the cyberattack on 7 May 2021 is uncertain. In the short term, Wood Mackenzie expects fuel demand and prices to rise in PADD 1, prompting refined fuel inventories to decline and PADD 1 refiners to maximize production.
Comment
China announces 'indefinite suspension of activities' under Strategic Economic Dialogue with Australia
- 06 五月 2021
China’s state planner the National Development and Reform Commission (NDRC) announced today an “indefinite suspension of all activities under China-Australia Strategic Economic Dialogue”. Wood Mackenzie experts weigh in on the event.
Comment
Australia's pathway to net-zero emissions by 2050
- 20 四月 2021
On 19 April, Australian PM Scott Morrison's commented on the country's road to net-zero emissions.
Comment
Santos announces Barossa project FID
- 30 三月 2021
Santos has sanctioned the Barossa project, which extends the life of Darwin LNG (DLNG) beyond 2040.
Comment
UK North Sea M&A gains pace with NEO, Waldorf deals
- 10 三月 2021
The latest acquisitions by NEO Energy and Waldorf Production continue what has been blockbuster start to the year for UK M&A with buyers and sellers buoyed by the recent recovery in prices. Just over two months into 2021 and UK disclosed deal spend has reached US$2.7 billion, almost equalling last year’s total, making it one of the hottest markets globally.
Comment
OPEC+ surprises market as it extends output curbs
- 04 三月 2021
OPEC+ took the market by surprise when it decided to roll over its quota, saying that rather than anticipate a demand recovery, the group would wait to see it actually recover. The market was expecting a substantial increase in production because a tightening in the supply and demand balance is already evident.
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.
Comment
Myanmar coup and impact on oil and gas industry
- 04 二月 2021
Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.
Comment
Biden administration and what it means for China and rest of Asia Pacific
- 20 一月 2021
As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.
Comment
China’s trucked LNG spot prices hit three-year high
- 12 一月 2021
Spot prices of trucked LNG in China were highly volatile last month.
Comment
OPEC+ agrees to increase output after tense negotiations
- 07 十二月 2020
Tense negotiations and rumours of a rift between Saudi Arabia and UAE ended with a compromise deal for OPEC+ on 3 December 2020. Despite concerns on oversupply for Q1 2021, the group agreed to increase output by 500,000 b/d in January. Production restraint is set at minus 7.2 million b/d instead of the Q4 2020 level of minus 7.7 million b/d.
Comment
All eyes on OPEC meeting as group mulls easing of production restraint
- 01 十二月 2020
OPEC held its scheduled bi-annual meeting virtually on 30 November 2020. Though the group was unable to reach an agreement at that meeting, up for discussion is whether the production restraint would be eased starting 1 January 2021.
Comment
Gulf of Mexico lease sale 256 – business as usual despite upcoming change in administration
- 19 十一月 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 十一月 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.
Comment
South Korea announces carbon neutrality pledge
- 29 十月 2020
South Korea becomes the latest Asian economy to announce its net-zero carbon emissions pledge.
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
Hess sells Shenzi stake to BHP in US$505m deal
- 05 十月 2020
Hess is selling its 28% working interest in the Shenzi field in US Gulf of Mexico to operator BHP.
Comment
Devon seals WPX merger
- 28 九月 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.”
Comment
China pledges to be carbon-neutral by 2060
- 23 九月 2020
On 22 September, China announced its ambition to be carbon-neutral by 2060. Wood Mackenzie experts weigh in on what this means.
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
BP underscores commitment to energy transition
- 04 八月 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.
Comment
Chevron swoops on Noble in US$13bn deal
- 20 七月 2020
Chevron is set to buy Noble Energy in a US$13 billion all-stock transaction, including US$5 billion in equity. This is the first large-scale corporate acquisition of this downturn.
Comment
Woodside takes impairment but is a US$80 carbon price the bigger news?
- 15 七月 2020
Wood Mackenzie analysts delved deeper into implications of Woodside's announced US$80 carbon price.
Comment
'Perfect storm' scuttles Atlantic Coast Pipeline
- 06 七月 2020
With the cancellation of the Atlantic Coast Pipeline (ACP) on 5 July, the project becomes the northeast US’ infrastructure market’s third high-profile victim in the last six months. Dominion and Duke Energy’s decision to pull the plug on ACP comes after the cancellation of the Constitution Pipeline in February and state water permit denial effectively scuppering the Northeast Supply Enhancement project in May.

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