Chinese activity drove global wind turbine orders to new record in Q2
Global wind turbine orders hit 43 gigawatts (GW) in the second quarter of the year, a new record.
Wood Mackenzie
Australia primed to become green hydrogen powerhouse
With some of the cheapest solar and wind costs in Asia Pacific, as well as virtually unlimited land resources, Australia has great potential to be a leading exporter of green hydrogen.
Energy industry pays tribute to Queen Elizabeth II
Figures from the energy industry have added their voice to mourners around the world following the death of the Queen.
WoodMac: Windfall tax ‘wipes out’ 20% of North Sea corporate value
Wood Mackenzie researchers say the government’s windfall tax measures are likely to wipe around 20% off the value of North Sea operators on average, with the impact largely dependent on current tax and investment status.
Norway steps up for Europe’s energy security
Russia's invasion of Ukraine has brought energy security into the spotlight and Norway is stepping up to meet demands while providing stable finances for producers and leading the way in decarbonisation.
The Australian energy crisis highlights need for new gas supply
Australian east coast energy prices skyrocketed earlier this year as a winter cold snap sent gas, coal, and electricity to record-highs, triggering price caps at A$40/Gigajoule (US$27/Million British Thermal Units), around 400% above the normal A$8-10/GJ price range.
Offshore wind offers “trillion dollar” opportunity for Big Oil: WoodMac
European majors are well placed to take advantage of a $1 trillion investment boom in offshore wind, as analysis suggests projects can return 25% higher operating margins than new oil and gas fields.
Nuclear and renewables to edge out LNG in South Korea
A potential resurgence in nuclear power combined with increasing renewable energy capacity could see less liquefied natural gas (LNG) fueled power projects built in South Korea than previously anticipated.
China to export $100bn in renewable energy technology in 2022, bright future ahead
China is continuing its rapid expansion into global new energy markets with exports of solar PV, wind turbines, and energy storage equipment, expected to be worth $100 billion this year, data from energy research firm Wood Mackenzie showed.
Coal plus renewables will shape energy transition in Asia as $2.9tn in power investment eyed
The coal plus renewables energy transition led by Asia Pacific’s largest growth markets – China and India – is gathering speed. Significantly, it is a lot cheaper than the natural gas plus renewables path followed by the EU and US to lower emissions.
China’s LNG imports to see unprecedented decline in 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 started importing LNG, reported Wood Mackenzie.
Australia’s plunge into energy crisis offers stark reminder for other governments
Eastern Australia is experiencing a severe power crisis, which is largely the result of poor government planning, and serves as a reminder to other nations of the dire consequences that stem from failing to develop a pragmatic energy policy.
Eni scoops WoodMac Discovery of the Year with Cote d’Ivoire’s Baleine
Energy major Eni has been named the upstream industry’s most-admired explorer in Wood Mackenzie’s annual Exploration Survey, and scooped discovery of the year for its find at Baleine.
Ban on Russian exports spurs energy transition and LNG, says WoodMac
A “rewriting” of energy trade flows is now underway according to Wood Mackenzie analysts, as Europe's move to wean itself off exports from Russia boosts investment in energy transition and LNG, but increases supply chain risks.
Worley, Voar, Wood Mackenzie publish study into Shetland energy hub
A study showcasing Shetland’s potential to become a leading green energy hub of the future has been published.
North Sea faces £17.5bn raid from windfall tax – AGCC
The North Sea will take a £17.5 billion hit from the new windfall tax, the Aberdeen and Grampian Chamber of Commerce (AGCC) has claimed.
Windfall tax: What is the Treasury’s so-called ‘normal’ oil price?
As industry grapples with the newly-imposed windfall tax, questions linger on the government's view of a so-called "normal" price for oil and gas.
UK set for record tax revenue from North Sea – with or without windfall tax
The UK Treasury is set to collect record revenue from oil and gas this year - with or without a windfall tax.
UK North Sea sees chance for political reprieve in energy crisis
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
Ten new North Sea oil projects could deliver nearly 1.5 billion barrels
Key North Sea oil projects currently in the pre-final investment decision (FID) phase could deliver nearly 1.5 billion barrels, according to new research.
Opportunities abound for energy M&A deals in Asia Pacific
Opportunities abound for mergers and acquisitions across energy-hungry Asia Pacific nations, as majors, such as Chevron, Shell, and ExxonMobil, seek to exit or rationalise their upstream portfolios.
Wood Mackenzie – ‘Bare minimum’ of £485bn needed to establish global hydrogen market
A “bare minimum” of £458 billion of investment and policy support will be needed by 2050 to get the global hydrogen market up and running.
OPEC ditches IEA numbers in favour of Rystad, WoodMac
OPEC members have opted to drop their use of data from the International Energy Agency (IEA) in their monthly reporting.
Opportunities abound as Asia Pacific set for $4 billion subsea spend in 2022
Subsea opportunities will be plentiful in Asia Pacific over the coming years as international oil companies (IOCs) and national oil companies (NOCs) advance a backlog of projects, while offshore wind developers accelerate activity across the region.
Mozambique offers “advantaged barrels” in exploration round
Mozambique’s sixth bid round is under way and potential bidders have until the end of February to pre-qualify.