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'Perfect storm' scuttles Atlantic Coast Pipeline
- 06 July 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.
News Release
Mexico, Central America and Caribbean power up with record wind capacity
- 18 June 2020
Mexico, Central America and the Caribbean saw a record 1,830 megawatts (MW) of new wind power capacity installed across the region in 2019 – a 126% year-on-year increase in additions, according to new research from Wood Mackenzie.
News Release
NOCs to slash over a quarter of exploration budgets on average in 2020
- 20 May 2020
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.
News Release
Covid-19 lockdown hits global solar PV market
- 09 April 2020
The coronavirus pandemic will have a significant impact on the global solar PV market. Construction and development is slowing as countries around the world enforce unprecedented lockdowns. As the world economy faces severe economic disruption, Wood Mackenzie has downgraded its forecast for 2020 installations from 129.5 gigawatts (GW) to 106.4 GW, a reduction of 18%.
News Release
Global electric vehicle sales to drop 43% in 2020
- 08 April 2020
Global electric vehicle (EV) sales closed at 2.2 million in 2019. This number is expected to drop 43% to 1.3 million by the end of 2020, according to new research from Wood Mackenzie.
News Release
Coronavirus could derail energy storage growth in 2020
- 01 April 2020
If coronavirus containment measures continue to curtail movement of goods and people through Q2 this year, alongside an economic downturn, the market impact could trim Wood Mackenzie’s 2020 global energy storage deployments forecast by 19%.
News Release
Off-grid energy key to power growth in emerging markets
- 11 March 2020
Approximately $2.1 billion in cumulative disclosed corporate-level investment was deployed into off-grid energy access markets between 2010 and 2019.
News Release
2020s to be decade of emerging solar PV markets
- 25 February 2020
The next decade is set to deliver more of the same for solar PV, according to Wood Mackenzie.
News Release
Solar power to become cheaper and more efficient in 2020s
- 04 February 2020
Solar system prices will continue to drop over the next decade, driven by advances in module efficiency, manufacturing, labour practices and software, according to Wood Mackenzie.
Comment
Jebel Ali gas find ‘largest since 2005’
- 03 February 2020
The announcement of an 80 trillion cubic feet (tcf) find at Jebel Ali, on the border between Abu Dhabi and Dubai, is hugely significant for the United Arab Emirates. Liam Yates, an analyst on Wood Mackenzie’s Middle East upstream team, said: “The find ranks as the largest global gas discovery since Galkynysh (South Iolotan). The Turkmen field was discovered in 2005."
News Release
Geopolitical tensions set to maintain gold’s allure in 2020
- 28 January 2020
Gold is poised to perform strongly in 2020, with geopolitical risk set to remain elevated, according to Wood Mackenzie.
News Release
Cheaper electric cars could help Tesla hit targets by mid-2020s
- 09 January 2020
In Q3 2019, Tesla announced its plans to capture 1% of all car sales globally. With its current portfolio of luxury cars, the company is unlikely to meet that target by the end of the decade. However, if it launches an entry-level car priced at $25,000, Wood Mackenzie projects that Tesla will meet the 1% target as early as 2024.
News Release
Wind power outlook in Eastern Europe and Russia upgraded by 17% QoQ over next decade
- 25 September 2019
An auction-triggered awakening in Poland and a growing confidence in developers' ability to comply with local content requirements in Russia led to a 17% wind power capacity increase QoQ in Eastern Europe and Russia, according to new research from Wood Mackenzie.
News Release
Total brings Culzean on stream, ahead of time and under budget
- 11 June 2019
French major Total today brought the high-pressure/high-temperature (HP/HT) Culzean field, in the UK central North Sea, on stream, ahead of schedule and under budget.
Comment
INEOS announces $2bn chemicals investment in Saudi Arabia
- 03 June 2019
INEOS is to spend $2bn building 3 chemicals plants in Saudi Arabia. Commenting on the news, Wood Mackenzie Chemicals Principal Analyst, Patrick Kirby, said:
News Release
Unplanned wind turbine repairs to cost industry $8 billion+ in 2019
- 03 June 2019
Global onshore wind O&M costs will reach nearly $15 billion in 2019. Of that number, 57% - or $8.5 billion – will be spent on unplanned repairs and correctives caused by component failures, according to new research by Wood Mackenzie Power & Renewables.
News Release
Global BOPET film market to grow almost 6% p.a. by 2023
- 15 May 2019
The global BOPET film market has seen demand grow by 6.7% p.a. over the last 5 years and now sits at just over 5 million tonnes, according to new research from Wood Mackenzie Chemicals.
Comment
Repsol-led consortium makes significant gas discovery in Indonesia
- 18 February 2019
Following the announcement by Indonesia's upstream regulator SKK Migas on a gas discovery in the country, Wood Mackenzie's research director Andrew Harwood provides a commentary.
News Release
US independents balance the books
- 14 February 2019
The Lower 48 E&P sector is under pressure from investors demanding greater capital discipline, positive free cash flow and increasing returns. There’s a tug-of-war between value and volume, and value has emerged as the winner. The Lower 48’s independents, who traditionally pursued growth at all costs, must now rein in their impulses and focus on delivering returns to their shareholders. How does this affect their 2019 spending plans, and how do they manage volatile oil prices?
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Full steam ahead for Tortue FLNG
- 21 December 2018
Sanctioning the Tortue FLNG project, offshore Mauritania/Senegal is a 'major milestone' for BP and its partners
News Release
Asia-Pacific offshore wind capacity to rise 20-fold in next decade
- 24 October 2018
New research from global natural resources consultancy Wood Mackenzie indicates Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027.
News Release
Inaugural Wood Mackenzie Prize awarded to Houston-based EY employee
- 10 August 2018
This ADIT June exam session saw the inaugural award of the Wood Mackenzie Prize, which recognises the highest scoring pass in this year’s Upstream Oil and Gas exam, awarded to Gareth Charles Lewis, of Houston, Texas, USA, who is employed at EY.
Comment
Energy storage market poised for a boom Down Under
- 06 July 2018
Looking at behind-the-meter, Australia was the biggest residential storage market in the world in 2017, with a tripling of residential storage deployments over the previous year. High retail electricity rates and diminishing or expiring feed-in tariffs have encouraged residential solar customers to choose storage for self-consumption benefits. As a result, over the past few years, Australia has been the preferred testbed for new residential energy storage products, as several technology vendors have first introduced their residential product portfolios in the country.
Comment
INEOS €2.7 billion chemicals investment good news for European olefins industry
- 03 July 2018
Commenting on the announcement that INEOS has approved a €2.7 billion capital project to build both a world scale ethane cracker and a PDH (Propane Dehydrogenation) unit in Northern Europe, Patrick Kirby, PCI Wood Mackenzie Principal Analyst, said:
News Release
New regulations to fast-track Brazil FPSO deployment and boost pre-salt oil production
- 20 June 2018
Brazil's new local content regulations could fast-track the deployment of FPSO units, speeding up the pace of pre-salt oil production by more than 21 billion barrels by the mid-2020s, a new report by Wood Mackenzie analysing the impact of new local content rules on production, royalty collection and job creation has found.
News Release
Majors dig deep as Brazil's PSC Round 4 sets record
- 07 June 2018
On 7 June 2018, Brazil held its fourth pre-salt auction, just eight months after the highly competitive second and third pre-salt rounds. US$818 million was collected in signature bonuses, the outcome was yet another big success for Brazil. With the successful conclusion of five licensing rounds in the span of less than a year, and a fifth PSC Round set for September 2018, interest in Brazil's upstream sector continues to be very strong.
News Release
LNG markets move from oversupply as rebalancing gets under way
- 07 June 2018
Wood Mackenzie's short-term global gas and LNG outlook (Q2 2018) sees the market rebalancing as it moves from oversupply, although the global natural resources consultancy believes prices will remain relatively sustained into 2019.
News Release
UK taxation in isolation will not increase plastics collection rates
- 21 May 2018
In response to HM Treasury's call for evidence on using the tax system to address single-use plastic waste, Wood Mackenzie Chemicals said there needs to be a bigger focus on behaviour change if current UK plastics collection and recycling rates are to reach the levels seen in a number of European countries.
Comment
Without UK steel tariff exemption, US users will struggle to source high value-added steels
- 09 March 2018
In response to Trade Secretary Liam Fox's announcement that the UK will seek an exemption from President Donald Trump's tariffs on steel imports to the US, Alex Griffiths, Wood Mackenzie Senior Research Analyst, said:
News Release
Upstream companies shift focus from ‘survive’ to ‘thrive’ in 2018
- 14 December 2017
2018 looks set to be a brighter year for upstream oil and gas companies

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