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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.
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.
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.
Utgard (originally known as Alfa Sentral) is a gas and condensate field, straddling the UK and Norway boundary. Equinor operates the field, which is located to the west of the Sleipner fields in Norway, and to the east of the T-Block fields in the UK. A unitisation agreement between the Norwegian and UK partners was reached in 2016. The Norwegian share of total reserves is 62%. The Plan for…
The KG-ONN-2003/1 block is located in the onshore Krishna-Godavari basin. It was awarded in the NELP-V bidding round. Cairn India made two discoveries - Nagayalanka and Nagayalanka-SE during the exploration phase. ONGC took over as operator at the end of the exploration phase in 2014. Production began in 2018.The reservoirs are HP/HT and the gas produced is priced as per the challenging fields…
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.
Adani gets environmental approval for Carmichael project
Developers in the US purchased sufficient equipment to qualify 6.6GW of new wind power capacity in 2018 for 60% production tax credits (PTC) under the Internal Revenue Service’s (IRS) safe harbor provision law, according to recent analysis carried out by Wood Mackenzie Power & Renewables. Accordi...
The US is poised to impose fresh sanctions on Venezuela, ratcheting up the stakes in the country's political crisis by curbing the Maduro government's access to cash from crude exports.
Following Ascend Performance Materials' decision to declare a force majeure on hexamethylene diamine (HMD), Wood Mackenzie Chemicals Head of Thermoplastics, Quentin de Carvalho, commented:
More than 680GW of new wind power capacity will come online globally over the 10-year outlook, according to new research by Wood Mackenzie Power & Renewables. Wood Mackenzie recently upgraded its Global Wind Power Market Outlook Update: Q4 2018 by 2% compared to the outlook published in the third...
On 3 December 2018, Qatar announced it will withdraw from OPEC on 1 January 2019, putting an end to its 57-year membership of the producers’ cartel. Qatar, which said it intends to focus on its gas production, made the announcement ahead of the 6 December OPEC meeting.
According to a new report from Wood Mackenzie Power & Renewables, an increasing number of major utilities have made strategic plays by investing in a relatively new European energy storage market over the past two years
After a decade of stellar growth, Wood Mackenzie forecasts that solar demand in the Asia-Pacific will decline for the first time this year. Compared to 2017, the region's solar demand will dip 18% to 59 GW in 2018 due to declining installations in China, India and Japan.
Chinese operators remain the leaders of the global wind asset market, according to new research from Wood Mackenzie Power & Renewables.
Norway's Equinor set to buy Chevron's 40% operating stake in the Rosebank field, offshore West of Shetland
Permian producers increased their 2020 oil-basis hedge positions by 431% during Q2. Such a sharp rise suggests producers perceive a higher risk that key pipeline projects fail to start up by 2019 target dates, according Wood Mackenzie's latest analysis of oil and gas activity.
Rig provider Transocean is set to merge with Ocean Rig in a $2.7 billion deal, a move Wood Mackenzie says is a winning one for the rig market.
A sizeable discovery is significant for Quadrant, whose private equity backers are looking to exit, and Carnarvon, which is a pure-play explorer. A standalone oil discovery is easier to monetise than gas, as it does not require LNG contracts or gas infrastructure.
What does the EU's agreement to buy US LNG - announced after a meeting between European Commission president Jean-Claude Juncker and US President Donald Trump - mean for producers and consumers?
Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.
Commenting on the announcement that Indorama have joined forces with India’s Dhunseri Petrochem to buy and operate the Egyptian Indian Polyester Company PET asset (EIPET) in Egypt, Phil Marshall, PCI Wood Mackenzie Head of PET, said:
Being a Stonewall Diversity Champion is a key part of Wood Mackenzie’s Diversity and Inclusion initiative, ensuring that all employees feel engaged, protected and empowered to perform well at work.
Commenting on the UK Government's plans to introduce a plastic bottle deposit scheme, Helen McGeough, PCI Wood Mackenzie, Senior Consultant, commented:
Follwoing the EU's pledge to make all plastic packaging recyclable by 2030, Helen McGeough, PCI Wood Mackenzie Senior Consultant, commented
Many market observers were sceptical about China's ability to deal with aluminium overcapacity. But cuts at Weiqiao, the world's largest smelter, shows China's determination to deliver supply-side reforms. The market is now divided into two camps – one that believes China will cut output significantly. The other one reasons that smelters will ramp up quickly and nothing much will really change.
Chinese companies can now negotiate long-term contracts to source liquefied natural gas from US suppliers, the US Commerce Department said.
Norway’s oil and gas operations in the North Sea will continue to churn out cash as the Scandinavian country maintains high production to help support Europe’s energy crisis according to a report by Wood Mackenzie.
As nations look for more low-carbon energy supplies, many are adjusting energy policies to support new nuclear projects and developing new technologies that will make this energy source more cost-competitive, according to a new report from Wood Mackenzie.
The acceleration of the energy transition means gas resource holders increasingly face a choice: follow the established pathway and develop new LNG export facilities or pivot into developing blue ammonia.
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