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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.
How can India attain its net zero emissions goal by 2070, in line with global pledges to reach net zero emissions by mid-century? Wood Mackenzie analyses the scenario in its latest report ‘India energy transition pathways 2070’, concluding that the country must radically transform its energy landscape and prioritise renewable energy, electrification, hydrogen adoption, and carbon removal strategies.
The Chinese economy is expected to grow by 5.5% but could grow by as much as 7% in 2023 as the country bounces back from three years of lock-down caused by the Covid pandemic according to a new report by Wood Mackenzie.
About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie.
Economic growth, stability in energy prices, energy transition, dual-control targets and relations with the US, are the top five themes to watch out for in China’s energy outlook this year, says Wood Mackenzie.
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.
Asia’s ambitious biofuels blending targets will be a challenge to meet due to supply constraints and food security concerns, says Wood Mackenzie.
Sales of China’s new energy vehicles (NEV) and hybrid electric vehicles (HEV) combined are expected to rise 15-fold or more by 2035 with their share in total new car sales exceeding 80%, says Wood Mackenzie.
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.
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.
India is expected to overtake China as the world’s largest liquefied petroleum gas (LPG) residential sector market by 2030.
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.
According to the latest analysis by Wood Mackenzie, China’s oil demand will recover to 13 million barrels per day (b/d) in Q2 2020, a 16.3% jump compared to Q1 this year.
A new report from Wood Mackenzie shows that olefins production losses in Asia have reached historical highs as a result of regional lockdowns in the wake of the coronavirus outbreak.
Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.
Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.
The travel ban announced by US President Donald Trump today is likely to have an immediate impact on jet fuel demand and prices across Europe and the US.
India's 2020 energy outlook
After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by US$52.4 billion above 2017 levels over the next two years. What could it mean for the oil market?
Wood Mackenzie's Gavin Thompson provides a commentary on the US-China Phase One trade deal
This attack has material implications for the oil market, as a loss of 5 million barrels per day of supplies from Saudi Arabia cannot be met for long by existing inventories and the limited spare capacity of the other OPEC+ group members. A geopolitical risk premium will return to the oil price.
Saudi Aramco is to set to take a 20% stake in Reliance Industries' refining and petrochemical businesses.
Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.
India's oil demand is expected to grow by 3.5 million barrels per day (b/d) from 2017 to 2035, accounting for one-third of global oil demand growth. India's demand is driven by rising income levels, an expanding middle class and a growing need for mobility.
Higher base chemicals demand and feedstock security for heavy naphtha are driving the development of a new wave of mega-integrated refinery and chemical sites in China. Private Chinese chemical producers, including Hengli and Rong Sheng, are back-integrating their chemical plants with refineries by building mega-integrated facilities. Wood Mackenzie expects these projects to come on stream in the next 12 to 24 months.
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.
Following China's imposition of retaliatory tariffs on US goods over the weekend, our experts weigh in on the potential impact the move will have on different commodities.
India is poised to double its oil product demand growth (190 kb/d) in 2018 after a sluggish 2017, when demand grew by only 93 kb/d. Last year, demand growth was at its slowest in the past three years.
The introduction of India's Goods and Services Tax (GST) has lifted oil demand in the country this year. Crude oil, natural gas, diesel and gasoline are currently exempt from the GST. However, diesel and gasoline demand are indirectly affected by the impact of GST on vehicle prices and sales, especially in the logistics sector.
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