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News Release
China’s gas production to double to 325 bcm in 2040
- 28 August 2019
Though set to become the world’s third largest gas producer by 2027, China’s imports will still grow in the long term. One key contributing factor is lower forecast in domestic gas production particularly in shale gas and coal bed methane (CBM), according to recent research by Wood Mackenzie.
News Release
Verisk to Acquire Genscape
- 26 August 2019
Acquisition will extend Verisk’s expertise in commodities intelligence as part of its Wood Mackenzie business
News Release
No-Deal Brexit won’t sound death knell for UK refiners
- 23 August 2019
Despite speculation that a No-Deal Brexit would have a severe impact on the UK refining industry, Wood Mackenzie’s analysis indicates that while the sector’s dynamics would shift and margins will narrow, it would not be crippled.
News Release
Permian operators cash in ... by thinking inside the box
- 21 August 2019
As the tight oil sector continues to mature, producers are looking for ways to optimise their operations, improving efficiency of both production and costs. It's a battle to win back investor confidence. New research from Wood Mackenzie underscores the fact tight-oil operators are no longer chasing growth at all costs. Development strategies have firmly shifted to focus on scale: drilling sections instead of wells, with compressed paybacks, at the lowest possible cost. Many are favouring a “cube” development strategy, viewing it as the most efficient way to capitalise on cost savings.
Comment
Lift off as Sputnik partners hit oil
- 20 August 2019
Commenting on Equinor, OMV and Petoro’s Sputnik discovery, Jamie Thompson, an analyst with Wood Mackenzie’s North Sea upstream team, said: “Despite being small and remote – it lies more than 300 kilometres from shore in the northern Hoop area of the Barents Sea - Sputnik has a high chance of commerciality. The aptly-named field could be a satellite of the pre-FID 440 million-barrel Wisting development, which is just 30 kilometres from Sputnik.
Comment
SP Chemicals starts up China’s first gas-based ethylene plant
- 20 August 2019
SP Olefins, a subsidiary of SP Chemicals, successfully started up its 650 ktpa steam cracker and was able to produce on-spec olefins.
News Release
Resilience to drive US microgrid growth
- 08 August 2019
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.
News Release
Global solar PV installations to reach record high in 2019
- 25 July 2019
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.
News Release
Permian midstream bottlenecks may choke output
- 24 July 2019
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.
Comment
BHP unveils five-year US$400m climate investment plan
- 24 July 2019
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.
News Release
Produced water poses growing risk to Permian production growth
- 24 July 2019
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.
News Release
Europe’s flexible packaging market will be worth over €16 billion by 2023
- 23 July 2019
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.
News Release
Japan to lose top LNG importer position to China by 2022
- 23 July 2019
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.
News Release
Faster decline rates prompt Permian players to eye spending boost
- 22 July 2019
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.
Comment
New York awards Equinor, Sunrise Wind major offshore wind contracts
- 19 July 2019
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.
Comment
Abadi LNG gets greenlight for revised Plan of Development
- 15 July 2019
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.
News Release
OPEC+ set for rollover but risk clouds supply outlook
- 30 June 2019
As OPEC and OPEC+ meet in Vienna, the outlook for the market is mixed, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie said. “Geopolitical risk means the supply outlook is tightening, offsetting the moderate weakening in oil demand growth thus far this year,” she said.
News Release
Decarbonising US power grid 'may cost US$4.5 trillion'
- 27 June 2019
The transition to a 100% renewable US power grid will need investment of up to US$4.5 trillion over the next 10 to 20 years, new analysis from Wood Mackenzie found.
Comment
PES to close oil refinery after fire damage
- 26 June 2019
Philadelphia Energy Solutions (PES) will close its oil refinery in the city, following a large fire last week that damaged the complex.
News Release
Spandex entering the big time as sales to hit 1 million tonnes by 2020
- 25 June 2019
As spandex closes in on sales of 1 million tonnes, industry structures will change to meet competition from China and the challenge of closed-loop recycling, according to recent Wood Mackenzie Chemicals research.
News Release
Malaysia offers significant gas opportunities
- 24 June 2019
According to research by natural resources consultancy Wood Mackenzie, Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia, primarily due to the need for additional gas supply.
Comment
PES refinery fire halts gasoline production
- 21 June 2019
A large fire at the Philadelphia Energy Solutions (PES) oil refinery in Philadelphia has halted gasoline production at the complex.
News Release
U.S. solar market sees best Q1 in history
- 18 June 2019
New findings from Wood Mackenzie Power & Renewables and SEIA's U.S. Solar Market Insight Report, Q2 2019
News Release
Mozambique LNG under starter’s orders
- 18 June 2019
US independent Anadarko Petroleum today formally sanctioned its Mozambican liquefied natural gas (LNG) project, Mozambique LNG. Anadarko is developing Mozambique’s first onshore LNG facility, initially consisting of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (mmtpa). Feedgas comes from the Golfinho/Atum field, in Offshore Area 1.
News Release
Argentina LNG exports positioned to meet peak demand in Asia
- 13 June 2019
Rising natural gas production in Argentina, coupled with competitive global LNG transportation costs, is expected to position the country as an emerging source of gas supply to Asia during peak demand periods, according to new research from Wood Mackenzie.
Comment
Adani gets environmental approval for Carmichael project
- 13 June 2019
Adani gets environmental approval for Carmichael project
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.
Comment
Delek in US$2bn swoop on Chevron’s North Sea assets
- 30 May 2019
Israel’s Delek Group confirmed today that it will buy US major Chevron’s North Sea assets in a US$2 billion deal.

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