As national carbon-neutral targets come into focus, Asia Pacific solar photovoltaic (PV) capacity could triple by 2030 to 1500 gigawatts (GW), with Indonesia potentially the fastest expanding market by the end of the decade, according to new research from Wood Mackenzie.
The Nigerian Senate and House of Representatives have passed the Petroleum Industry Bill (PIB) in a bid to draw in more investment, from foreign and domestic sources.
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
Southeast Asia is emerging as a hotspot for global solar investment with over $10 billion invested just last year. In 2020, the region represented 12% of the global solar market and installed capacity has more than doubled every year since 2018, Rishab Shrestha, analyst at Wood Mackenzie told the APAC power and renewables summit today.
Investments in Asia Pacific wind and solar power could double to $1.3 trillion over the current decade to 2030 compared with the period 2011-20, predicts Wood Mackenzie. However, in most Asian markets, subsidy-free renewable power will not be able to compete with coal power until 2025 or later, cautioned the energy research company.
Surging demand will see China become the world’s largest importer of liquefied natural gas (LNG) this year, stealing the crown from Japan, according to forecasts from energy research company Wood Mackenzie.
Australian producers need to be at the forefront of carbon-neutral liquefied natural gas (LNG) or “green LNG” to remain competitive, energy research company Wood Mackenzie told delegates at the Australian Petroleum Production & Exploration Association (APPEA) conference today. But progress is not fast enough.
Oil majors need to curb emissions in sub-Saharan Africa -- where almost half of their most polluting assets are located -- as investors demand greater efforts to slash carbon output, according to Wood Mackenzie Ltd.
UK oil and gas firms would have to fully electrify the west of Shetland and central North Sea basins to achieve government and industry’s green goals, an analyst has said.
The world’s energy consumption will change “profoundly” if it is to meet the Paris Agreement goals, Wood Mackenzie has said in a new report.
Investors are in the dark about the financial implications of emissions from Woodside Petroleum’s proposed Scarborough liquefied natural gas (LNG) development at the North West Shelf offshore Western Australia, according to the Institute for Energy Economics and Financial Analysis (IEEFA)
Bosses at Longboat Energy are “participating” in a number of acquisition processes as the London-listed firm looks to do its maiden deal.
The blockbuster start to 2021 made by UK North Sea buyers looks set to continue with a further £3.6 billion of assets potentially changing hands by year-end, an analyst has said.
International oil companies (IOCs) could be on track for record free cash flow this year should Brent continue its rise, according to Wood Mackenzie.
Plans to remove support for oilfield technology and services exports wont necessarily inhibit supply chain growth, according to an industry expert.
News that South Korea aims to build the world’s largest offshore wind farm by 2030 follows moves by major exploration and production companies to establish a foothold in the nascent market.
The floating offshore wind power market in Asia Pacific could offer investment opportunities worth up to $58 billion as a significant market for the technology is emerging, latest research from Wood Mackenzie shows.
Japanese companies are increasingly focused on upstream portfolio rationalisation, with divestment of non-operated stakes in smaller oil, as well as other non-core assets, expected to accelerate, research from Wood Mackenzie shows.
Qatar Petroleum (QP) has taken the final investment decision (FID) for the world’s largest LNG plant, which will increase the country’s production to 110 million tonnes per year.
Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
Experts from EY, Wood Mackenzie and NorthStone Advisers say setting renewable energy targets will be high on oil and gas firms' agendas.
The rapid transition under way in energy means that now more than ever the sector must grasp the opportunities presented by technology.
Santos has approved US$235 million worth of investment for an infill drilling campaign that will extend the life of the Bayu-Undan field offshore East Timor. As a result, the Santos-led Darwin LNG export plant, which is fed by the aging field, will not need to be shut down while new supplies of gas are developed.
Reconnaissance Energy Africa has confirmed that its Botswana licence no longer includes the Tsodilo Hills.
The Santos-led Barossa LNG export project is on track for a final investment decision (FID) within six months after drastically cutting costs and securing a major Japanese buyer for some of Australia’s dirtiest LNG.