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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.
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.
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.
Saudi Aramco is to set to take a 20% stake in Reliance Industries' refining and petrochemical businesses.
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...
The US microgrid industry may find opportunities for substantial future growth in geographical areas that are repeatedly affected by power outages, as customers seek out resilient solutions, new research from Wood Mackenzie found.
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.
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.
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.
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.
India has emerged as the market leader with the lowest renewable energy cost in Asia Pacific, new research from Wood Mackenzie found.
Global solar PV installations will reach a new high of 114.5 GW in 2019, up 17.5% on 2018, according to new research from Wood Mackenzie.
Rapidly rising production in the Permian basin has led to soaring levels of associated gas, outpacing pipeline infrastructure and placing increasing slowdown pressure on other production streams like crude oil and natural gas liquids (NGLs), Dr Eugene Kim, Research Director, Americas Gas, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.
BHP’s chief executive Andrew Mackenzie unveiled a five-year, US$400 million climate investment program om 23 July, with a commitment to reduce Scope 1, 2 and 3 emissions. The Australian miner will seek to scale up low-emissions technologies to decarbonise its operations, including investment in nature-based solutions and collective action to reduce Scope 3 (end-use) emissions.
Rising produced water volumes and expanding costs pose a significant risk to production growth in the Permian basin, Ryan Duman, Senior Analyst, Lower 48, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.
Europe's flexible packaging market is predicted to achieve a compound annual growth rate (CAGR) of 2% over the next five years to reach over €16 billion in 2023.
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.
According to a new report by Wood Mackenzie, Japan could lose its pole position as the world’s top LNG importer to China as early as 2022.
Accelerating tight oil decline rates top a growing list of concerns for Permian basin operators, with unexpected production shortfalls prompting producers to consider stepping up drilling investment and M&A activity, Robert Clarke, Research Director, Lower 48 Upstream, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.
The US state of New York today awarded two major offshore wind contracts to Norwegian energy company Equinor, and Sunrise Wind, a joint venture between Denmark’s Ørsted and US utility Eversource.
Wood Mackenzie, the global natural resources research consultancy, announces today its partnership with P2 Energy Solutions to better analyse current and future well spacing.
The Government of Indonesia has approved the revised Plan of Development for the Abadi LNG project. INPEX (operator, 65%) and Shell (35%) will develop Abadi via an offshore production facility and a 9.5 million tonnes per annum (mmpta) onshore LNG plant, at an estimated cost of US$20 billion.
Shockwaves from Tsingshan's new stainless steel hub in Indonesia are reverberating across South East Asia and beyond, according to Wood Mackenzie
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.
The Dominican Republic today launched its first licensing round, putting 14 blocks across its on- and offshore basins up for bid.
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.
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
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.
China’s cumulative energy storage capacity is projected to skyrocket from 489 megawatts (MW) or 843 megawatt-hours (MWh) in 2017 to 12.5 gigawatts (GW) or 32.1GWh in 2024. This represents an increase in the installed base of 25 times.
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.
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