Tag: Wood Mackenzie

WoodMac Study: India’s Economic Surge to Drive Global Energy Demand

  • 0

HOUSTON, TEXAS (Wood Mackenzie, 20.Mar.2025) — India is set to become a major player in the global energy markets with a unique growth path, featuring lower energy intensity, a diverse energy mix and increased commodity imports, Wood Mackenzie‘s latest Horizons report reveals.  The report, ‘Eye on the tiger: How higher […]

Chevron Closer to Canadian Divestment Target with $6.5bn Asset Sale to CNRL

  • 0

(WoodMac, 7.Oct.2024) — Addressing Chevron’s announcement to sell Canadian assets to Canadian Natural Resources (CNRL) for US$6.5bn Mark Oberstoetter, Wood Mackenzie Upstream Research Director in Calgary, said “Chevron has shown commitment to its divestment target with two sale announcements in two weeks. Offloading Alaska assets to ConocoPhillips (COP) last week […]

Aramco’s Shift to Abandon 13 MMb/d Capacity Target

  • 0

(WoodMac, 1.Feb.2024) — Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in […]

Gas Prices Down 45% as 2024 Set to Remain Bearish

  • 0

(Wood Mackenzie, 17.Jan.2024) — The market sentiment for gas and liquefied natural gas (LNG) will remain bearish into 2024 with European prices having fallen by 45% to US$10 per million British thermal units (mmbtu) in the past three months according to a report by Wood Mackenzie.  The report â€˜Global Gas and […]

Key Upstream Things to Watch in 2024: WoodMac

  • 0

(WoodMac, 10.Jan.2024) — Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie recently released its What to Look for in 2024 upstream series. Key themes to watch in global and corporate upstream include continued consolidation, increased activity from NOCs, reversing decarbonisation gains, shifts […]

UK to Struggle to Meet Ambitious 2030 CCUS Targets

  • 0

(WoodMac, 5.Sep.2023) — The global CCUS project pipeline is buoyant but scaling up needs concerted and consistent effort from governments. Only a handful of countries have policy and regulation ready to adopt CCUS today and the United Kingdom (UK) is one of them, says Mhairidh Evans, Head of CCUS Research […]

TotalEnergies Named Most-admired Explorer in WoodMac Survey

  • 0

(WoodMac, 27.Jun.2023) — French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said “For the third time in our industry-leading survey, TotalEnergies […]

TotalEnergies Named Most-admired Explorer by WoodMac

  • 0

(WoodMac, 27.Jun.2023) — French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said “For the third time in our industry-leading survey, TotalEnergies has received […]

Should Gas Resource Holders Target LNG Exports or Blue Ammonia?

  • 0

(WoodMac, 15.Jun.2023) — As Europe moves away from Russian gas and Asia reduces its dependency on coal, demand and investment in liquefied natural gas (LNG) continues to rise. But according to “Stick or twist: Should gas resource holders target LNG exports or blue ammonia?”, a new Horizons report from Wood Mackenzie, the acceleration of the energy transition […]

High Quality Oil and Gas Supplies are Scarce, WoodMac Says

  • 0

(WoodMac, 16.Feb.2023) — The energy transition will require oil and gas for decades to come, but the supply of lower-cost, lower-carbon “advantaged” barrels remain scarce, threatening emissions targets and causing upstream providers to pivot to new strategies, according to “Scraping the Barrel” a new Horizons analysis from Wood Mackenzie. Wood Mackenzie’s analysis […]

CCUS Planned Capacity Nearing 1 Billion Tonnes Per Annum

  • 0

(WoodMac, 26.Aug.2022) — The planned global carbon capture, utilisation and storage (CCUS) capacity pipeline has reached 905 million tonnes per annum (mtpa), with more than 50 new projects announced this quarter, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). These findings come from Wood Mackenzie’s ‘CCUS Market Update for Q2 2022’ […]

China’s LNG Imports to See Unprecedented Decline in 2022 

  • 0

(WoodMac, 19.Jul.2022) — China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it began LNG imports, says Wood Mackenzie a Verisk business (Nasdaq:VRSK). After a solid growth in 2021, China’s gas and LNG demand is expected to slow down […]

Pathways to Sustainable Smelting 

  • 0

(WoodMac, 21.Jun.2022) — Traditional metal production is inherently polluting. According to data from Wood Mackenzie’s Emissions Benchmarking Tool, it is currently responsible for 9% of global greenhouse gas emissions.   Many of the metals produced in smelting operations around the world will play a vital role in the energy transition. For […]

Low-carbon Hydrogen Demand in Refining Could Reach 50 Mtpa by 2050

  • 0

(WoodMac, 9.Jun.2022) — Potential low-carbon (green or blue) hydrogen demand from the global refining sector could reach 50 million tonnes per annum (Mtpa) by 2050, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).  Oil refining is one of the largest markets for hydrogen, accounting for about 32 Mtpa or 30-35% of global […]

Shell Sanctions Crux Gas Project 

  • 0

(WoodMac, 30.May.2022) — Shell has sanctioned the development of the Crux gas field in Australia’s Bonaparte Basin.   Wood Mackenzie research analyst Michael Song said: “The development is expected to cost US$2.5bn, and will produce 1.6 tcf gas, 60 mmbbl of condensate and 40 mmbbl of LPG. Crux will be produced […]

LNG Contracting Off to Fast Start in 2022 with More Than 10 mmtpa Signed

  • 0

(WoodMac, 16.May.2022) — Demand for long-term LNG contracts continues to gain momentum this year as large volumes have been signed and prices for oil-linked deals under negotiation are rising, according to a recently published LNG contract trends report by Wood Mackenzie, a Verisk business (Nasdaq:VRSK). Wood Mackenzie principal analyst Daniel Toleman […]

How the Energy Transition can Reduce the Risk of Future Shocks

  • 0

(WoodMac, 21.Apr.2022) — The crisis caused by Russia’s invasion of Ukraine has highlighted the challenges for energy supplies as the world moves to tackle the threat of climate change. The uptake of low-carbon technologies can help address problems of energy security and affordability, and strengthen resilience to shocks in the […]

How NOCs are Tackling the Energy Transition

  • 0

(WoodMac, 30.Mar.2022) — Despite their scale, national oil companies (NOCs) have until now largely escaped the heavy scrutiny experienced by international oil companies (IOCs) around emissions. Partly as a consequence, the energy transition strategies of most NOCs significantly lag those of their leading IOC peers, says Wood Mackenzie, a Verisk […]

World Must Double-Down on Plans to Achieve Net Zero by 2050

  • 0

(WoodMac, 23.Mar.2022) — Wood Mackenzie, a Verisk business (Nasdaq:VRSK), reveals in its latest Accelerated Energy Transition (AET) 1.5-Degree scenario report, that the world needs to double-down on plans to achieve the goal of limiting the rise in global temperatures to within 1.5 degrees Celsius (˚C) by 2050.  Over the last year, […]

Is Private Equity Who Upstream M&A Market is Looking for?

  • 0

(WoodMac, 16.Feb.2022) — As energy transition and ESG pressures bring more upstream assets to market, questions remain about who’s buying. Comments follow from Greig Aitken, Research Director, M&A and Neivan Boroujerdi, Principal Analyst, North Sea Upstream. The pressure is rising for public companies to decarbonise. It’s bringing more upstream assets to the […]

Major Energy Exporters Race To Lead In Global Hydrogen Trade

  • 0

(WoodMac, 28.Oct.2021) — The time is ripe for the world’s major energy exporters to accelerate the energy transition, and mastering the hydrogen trade could make a difference, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).   The global energy market was worth an eye-watering $2tn in 2020, contributing to more than […]

Carbon Removal Key To Reaching Paris Target

  • 0

(WoodMac, 24.Jun.2021) — Achieving the 2°C goal of the Paris Agreement will require more than simply avoiding carbon. To cap global warming at 1.5°C or even 2°C, carbon removal will be essential. Research from global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq:VRSK), shows the key to effective large-scale […]

Big Oil’s Watershed Moment: WoodMac

  • 0

(Woodmac, 10.Jun.2021) — Pressures around climate change and the energy transition are having an impact, says Wood Mackenzie Vice-Chair, Americas, Ed Crooks. The events of May 26, 2021 look like a defining moment for the oil and gas industry. In the space of a few hours, three decisions crystallised trends […]

WoodMac On Suez Canal Congestion

  • 0

(WoodMac, 24.Mar.2021) — According to Wood Mackenzie’s VesselTracker – as of 24 March, one LNG vessel is “trapped” within the canal. The Golar Tundra loaded at Egypt’s Idku on 21 March and was transiting to Asia. At the Southern entrance, the Rasheeda is awaiting to transit with a shipment from […]

Suez Canal Blockage Causes Vessel Build-up

  • 0

(WoodMac, 24.Mar.2021) — The Suez Canal blockage has caused the build-up of vessels looking to transit the canal at both the northern and southern anchorages.   Wood Mackenzie principal analyst Mark Williams said: “According to Wood Mackenzie VesselTracker, the largest impact is on container shipping, but we estimate that there are […]

OPEC+, Covid-19 and Energy Transition: 3 Themes in 2021

  • 0

(WoodMac, 28.Jan.2021) — Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition. Following 2020’s unprecedented oil demand shock amid the Covid-19 pandemic, Wood Mackenzie expects 2021 […]

Climate Commitments Top Energy, Mining Agendas

  • 0

(WoodMac, 27.Jan.2021) — 2020 was the year that climate change became a dominant force for commodities. In response, a slew of companies and governments made ambitious net zero commitments. Renewables grew in importance in some oil and gas companies’ portfolios and as a power source for mining. Carbon pricing accelerated, […]

Stabroek’s Fiscal Terms On Par With Other frontiers

  • 0

(DPI, 31.Jul.2020) — Oil and gas industry analyst Wood Mackenzie in its recent report stated that compared to other countries with similar circumstances, Guyana’s Stabroek Block fiscal terms ranks well. The website OilNOW reported that the company had benched marked the Stabroek Production Sharing Agreement (PSA) against countries with similar […]

How Price Crash Changed The Upstream Sector?

  • 0

(WoodMac, 24.Jun.2020) — According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry. Andrew Pearson, vice president, upstream, said: “This figure captures the impact of Wood Mackenzie’s downgraded long-term Brent price assumption – now US$50/bbl (2020 terms), rather than the […]