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News Release
Changes to North Sea profits levy could sound death knell for industry
- 31 July 2024
The UK government’s announcement of further changes to the Energy Profits Levy (EPL), a windfall tax aimed at oil and gas companies operating in the North Sea, could paralyse upstream investment for the duration of this parliament if implemented in the October budget according to new research by Wood Mackenzie.
News Release
Shifting away from China for critical minerals would increase costs and delay the energy transition, warns Wood Mackenzie
- 15 August 2024
As major global economies look to reposition critical minerals supply chains outside China, the resulting inefficiencies could increase the cost of finished goods and delay the energy transition. The world cannot achieve decarbonisation without copper, a crucial component in electrification. Curr...
News Release
Five charts that define the energy transition
- 13 December 2024
As the energy landscape rapidly transforms due to decarbonization, electrification, and geopolitical shifts, Wood Mackenzie has released five compelling charts that highlight key trends shaping the sector in the latest Horizons report.
News Release
A “stable” Russia-Ukraine peace agreement could lead to years of US LNG under-utilisation and delays on US LNG FIDs
- 08 April 2025
As the geopolitical landscape of the Ukraine conflict enters a new and highly uncertain phase, Wood Mackenzie's Gas and LNG team has released a new report titled "What a future Ukraine peace deal means for energy". Using the LENS Gas Market Model the report outlines three peace agreement scenarios and explores their potential consequences in terms of sanctions and the implications on trade flows and prices.
News Release
Tariffs to increase costs and slow down development for US power industry
- 02 June 2025
Recent tariff policies in the US are set to increase the cost of power generation technologies, with energy storage seeing the biggest hike due to its dependence on Chinese imports, according to a recent report from Wood Mackenzie.
News Release
Robust growth drives North America RNG market to 604 mmcfd capacity in 2025
- 26 June 2025
The North America renewable natural gas (RNG) market has demonstrated robust growth, expanding 35% since 2023 and adding a record 139 million cubic feet per day (mmcfd) in 2024, according to a recent analysis from Wood Mackenzie.
News Release
Geothermal investment soars 85% as breakthrough tech unlocks 500 GW US potential
- 30 June 2025
North America's geothermal sector shattered investment records in Q1 2025, attracting US$1.7 billion in public funding – 85% of 2024's entire annual allocation – as breakthrough technologies transform vast untapped resources into commercially viable clean energy projects, according to new analysis from Wood Mackenzie.
News Release
Global automotive industry faces critical bottlenecks as China tightens grip on rare earth supply chain
- 23 June 2025
The global automotive industry faces a critical challenge as China tightens its grip on rare earth magnets. According to Wood Mackenzie’s latest insight, there was a 51% drop in Chinese rare earth magnet exports in April 2025 compared to March, far exceeding seasonal norms. The sharp decline follows the introduction of new export restrictions in April, with Chinese government approving only around 25% of export licence applications submitted by automotive suppliers. Wood Mackenzie’s insight indicates that the restrictions have significantly disrupted the supply of these critical components for electric vehicle (EV) and hybrid drivetrains, sending shockwaves through the global automotive supply chain.
News Release
Asia Pacific carbon capture and storage investment set to reach US$622 billion by 2050
- 23 June 2025
The carbon capture and storage (CCS) industry in Asia Pacific is on the path for significant expansion, with cumulative investment across capture, transport and storage projected to reach US$622 billion by 2050, according to Wood Mackenzie. Japan is expected to emerge as a regional leader in cr...
News Release
Wood Mackenzie Study Reveals Critical Risks of Europe's "Dunkelflaute" Renewable Energy Droughts
- 31 July 2025
A comprehensive new study by Wood Mackenzie reveals the growing challenge of "dunkelflaute" – prolonged periods of low wind and solar generation – as Europe transitions to renewable-dominated power systems. The research shows these events are driving extreme price volatility and exposing critical vulnerabilities in energy security across the continent.
News Release
Power transformers and distribution transformers will face supply deficits of 30% and 10% in 2025
- 14 August 2025
As electricity consumption continues to surge in the US, pressure on power infrastructure such as transformers has intensified, with a supply shortage for power and distribution transformers to hit 30% and 10%, respectively, in 2025, according to a recent report from Wood Mackenzie, a leading energy research and consultancy firm.
News Release
US energy storage installations reach new quarterly record in Q2 with 5.6 GW
- 26 September 2025
The U.S. energy storage market set a record for quarterly growth in Q2 2025, with 5.6 gigawatts (GW) of installations, according to the latest U.S. Energy Storage Monitor report released today by the American Clean Power Association (ACP) and Wood Mackenzie.
News Release
UK’s AR7 offshore wind auction tees-up a ‘win-win-win’ for policymakers, developers, and suppliers
- 12 November 2025
With the launch of the UK's Contracts for Difference (CfD) Allocation Round 7 (AR7), strategic recalibrations compared to past auctions could deliver stability to the offshore wind market amid an intense political and economic battleground over net zero targets and public spending, according to a recent insight from Wood Mackenzie.
News Release
Balance-of-systems costs for US non-residential storage to drop
- 24 October 2019
Non-residential storage system costs will fall by 27% in the US over the next five years, according to new research from natural resources consultancy Wood Mackenzie.
News Release
Europe gas prices set to fall amid high storage levels throughout 2024
- 14 March 2024
Gas prices in Europe could fall as low as US$6.70 per million British thermal units (mmbtu) in the summer as the mild winter will see storage levels remain above 55% according to a new report by Wood Mackenzie.
News Release
India needs radical transformation to reach net zero emissions by 2070
- 27 July 2023
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.
News Release
U.S. solar industry sets records in 2020, on track to quadruple by 2030
- 16 March 2021
The U.S. solar industry grew 43% and installed a record 19.2 gigawatts (GWdc) of capacity in 2020, according to the ‘U.S. Solar Market Insight 2020 Year-in-Review’ report, released today by Wood Mackenzie and the Solar Energy Industries Association (SEIA).
News Release
OPEC+ maintains production plan
- 27 April 2021
OPEC+ is, as expected, holding firm to its decision to increase supply, gradually and carefully, over the coming months.

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