• Comment

  BHP unveils five-year US$400m climate investment plan

  • 24 7月 2019

  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.

• Opinion

  M&A shake-up on the horizon for the Australian upstream sector

  • 29 8月 2019

  We’ve identified a potential US$32 billion worth of assets that could change hands in the next few years. Many of these deals are long in the planning and reflect wider trends in the Australian and global upstream sectors. We’ve bucketed our pick of the deals into three key themes.

• News Release

  China’s steel demand growth to slow as property policy tightens

  • 12 9月 2019

  Chinese president Xi Jinping’s mantra that “houses should be for living in, not for speculation” has been used to allude to the government’s policy to curb rising property prices for the past couple of years. Despite the cooling measures, steel demand in the property sector has shown resilience.

• Comment

  Attack on Saudi Arabia's oil facilities

  • 16 9月 2019

  This attack has material implications for the oil market, as a loss of 5 million barrels per day of supplies from Saudi Arabia cannot be met for long by existing inventories and the limited spare capacity of the other OPEC+ group members. A geopolitical risk premium will return to the oil price.

• Comment

  ExxonMobil to sell upstream assets in Gippsland Basin

  • 18 9月 2019

  ExxonMobil putting its entire Gippsland Basin upstream portfolio up for sale represents big news for the Australian upstream and gas market.

• Comment

  Japan to invest additional $10 billion in global LNG infrastructure projects

  • 26 9月 2019

  Japan is planning to invest an additional $10 billion to develop infrastructure mainly in new and developing markets in the India sub continent and Southeast Asia, reflecting a shift in priorities.

• Content

  Energy Pulse

  • 05 11月 2019

  How do the interactions of politics, finance and technology impact the world of energy? Every week in Energy Pulse, Ed examines the forces driving the week's biggest stories.

• Content

  Featured Reports

  • 09 8月 2018

  We're highlighting our most popular reports. Gain instant access to detailed data — by the numbers and with visualisation — to address business challenges and make better, more strategic decisions.

• Comment

  European Investment Bank to cease funding fossil fuel projects

  • 15 11月 2019

  The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.

• Content

  Digitalisation Guide

  • 08 2月 2019

  Digitalisation promises to reduce costs and bolster the bottom line. And at a time when oil and gas is facing an existential crisis in the form of the energy transition, it could be key to the industry’s survival.

• News Release

  Increased uncertainty to colour upstream sector’s decision-making in 2020

  • 09 1月 2020

  The level of uncertainty and anxiety among upstream producers and supply chain has rarely been higher. In 2020, decision-making will be more heavily influenced by sentiment surrounding the energy transition, political upheaval and trade disputes than in previous years. This adds to the ever-present risks of unexpected supply-demand imbalance, niche cost inflation or a global economic downturn. What are the biggest trends to watch in the upstream oil and gas business in 2020? Fraser McKay, head of upstream analysis at Wood Mackenzie, sees five key themes.

• News Release

  Cheaper electric cars could help Tesla hit targets by mid-2020s

  • 09 1月 2020

  In Q3 2019, Tesla announced its plans to capture 1% of all car sales globally. With its current portfolio of luxury cars, the company is unlikely to meet that target by the end of the decade. However, if it launches an entry-level car priced at $25,000, Wood Mackenzie projects that Tesla will meet the 1% target as early as 2024.

• News Release

  Asia Pacific upstream - 5 themes to watch in 2020

  • 19 12月 2019

  Wood Mackenzie has identified five themes related to project sanctions, exploration, M&A, energy transition and IMO 2020 that will impact Asia Pacific’s upstream industry in 2020.

• News Release

  China’s wind repowering market to boom from 2023

  • 17 12月 2019

  According to a new report by Wood Mackenzie, China’s wind repowering market is expected to take off from 2023. More than 21 gigawatts (GW) (cumulative capacity) of China’s wind turbine fleet is expected to be repowered over the next 10 years (2019-2028).

• News Release

  2020 could mark start of downcycle for China’s petrochemical industry

  • 15 1月 2020

  In a recently published report, Wood Mackenzie predicts the start of a downcycle in China’s petrochemical industry. A supply overhang has already hit the country’s paraxylene (PX) market, with olefins and polyolefins markets almost certain to face the same.

• Comment

  What does the US-China trade deal mean for refiners - and for the market?

  • 20 1月 2020

  After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by US$52.4 billion above 2017 levels over the next two years. What could it mean for the oil market?

• Comment

  New CEO Looney rings changes at BP with ambitious climate plan

  • 12 2月 2020

  Speaking after BP’s new chief executive Bernard Looney unveiled the major’s ambitious climate commitments today, Luke Parker, vice president, corporate analysis, said: “BP joins Shell, Total, Equinor and Repsol in making a major commitment to reduce its net carbon footprint. “This marks a major turnaround in BP’s position. Just 12 months ago former CEO Bob Dudley said the company could not be held accountable for how people use its products. Looney is taking the company in a very different direction.” Parker added: “It’s an ambition, rather than a target, but the commitment appears to be unconditional. In terms of scale of commitment, this puts BP towards the top of the pack, along with Repsol and Equinor. “This will see BP’s business completely transformed over the coming decades: renewables and carbon abatement will get very big, legacy oil and gas will eventually get smaller. But the transition to 2050 is a multi-decade transition - not something that will happen in the next year or so.”

• News Release

  OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

  • 05 3月 2020

  The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.

• Webinar

  Webinar | LNG Summer Outlook 2020

  • 26 3月 2020

  In this webinar, Genscape and Wood Mackenzie analysts will cover the global LNG market, including perspectives of Europe and Asia, and what this means for the US market during Summer 2020.

• News Release

  China’s crude reserves to reach 1.15 billion barrels in 2020

  • 23 3月 2020

  Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.

• Webinar

  Webinar Series | Connecting Conversations

  • 31 3月 2020

  Join Wood Mackenzie for its new webinar series, Connecting Conversations, available to Wood Mackenzie customers. Twice a month, we will bring together a panel of experts to discuss energy’s most pressing questions.

• Comment

  US$210bn of new spend in firing line as players target cost cuts

  • 02 4月 2020

  The oil price crash has hit the upstream sector hard. Deep cuts are being made across the board, but it will have a dramatic impact on the industry’s project pipeline. Global natural resources consultancy Wood Mackenzie believes almost all pre-FID projects will be deferred. Of the 50+ projects we identified with potential to go ahead this year, only 10 have a chance of proceeding, but all are at risk.

• Webinar

  Webinar: What oil supply is at risk of shut in?

  • 09 4月 2020

  During the last downturn in 2015/16 supply was relatively unaffected. Even the highest cost wedges kept producing; the associated shut-in costs were deemed too high. But prices only dipped below US$45/bbl for a year, and below US$35/bbl for one quarter. Storage levels were of less concern. There is no precedent for the scale of potential shut-ins for today’s asset classes, if oil prices remain low for a prolonged period. The industry’s ability to keep higher-cost barrels flowing is being severely tested. This downturn, there could be a significant impact on currently producing fields as well as future supply.

• Webinar

  Webinar | Petrochemical Markets in a Turbulent World

  • 14 4月 2020

  Join us for updates on current market dynamics, insights from across the chemical value chains and gain an understanding of what this means for the future of petrochemicals and your business.

• News Release

  Covid-19 lockdown hits global solar PV market

  • 09 4月 2020

  The coronavirus pandemic will have a significant impact on the global solar PV market. Construction and development is slowing as countries around the world enforce unprecedented lockdowns. As the world economy faces severe economic disruption, Wood Mackenzie has downgraded its forecast for 2020 installations from 129.5 gigawatts (GW) to 106.4 GW, a reduction of 18%.

• Webinar

  Webinar | A European battery supply chain – edging closer to reality?

  • 30 4月 2020

  The spread of coronavirus around the world and the resultant disruption to raw material flows has already raised questions on globalisation and increased calls rather for greater regionalisation. Even before the outbreak, voices in Europe were lobbying for the creation of a ‘home grown’ electric vehicle chain – highlighting the inherent risks in relying on the likes of China, Korea and Japan for battery cells and other components.

• Comment

  Arrow Energy sanctions Surat Gas Project

  • 17 4月 2020

  Arrow Energy sanctions Surat Gas Project

• News Release

  Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

  • 16 4月 2020

  Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.

• Webinar

  Webinar | Coronavirus and oil price collapse: will it make or break EV adoption

  • 29 4月 2020

  The pandemic caused by the coronavirus has wreaked havoc on global automotive demand and more so on electric vehicle sales. National lockdowns have kept customers away from car dealerships and stopped production lines. Fear and uncertainly has swayed people away from adopting new technology including electric cars. Join Ram Chandrasekaran, Principal Analyst Global Mobility & Transportation and Prakash Sharma, Director, Energy Transition Practice at Wood Mackenzie as they discuss the fallout of the coronavirus pandemic on the electric vehicles market.

• Webinar

  Webinar | Oil price crash: fiscal responses

  • 30 4月 2020

  Oil price crash: what next for fiscal terms? Petroleum investors, producers, suppliers and governments are coming together to try and find solutions to the current industry crisis. The oil revenue cake that they all feast on has shrunk, dramatically.