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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).
Chevron has given the green light to the Anchor development in deepwater US Gulf of Mexico. This is Chevron’s first greenfield final investment decision as an operator since its sanction of Big Foot and Jack/St Malo in 2010.
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.
Chinese steel demand will likely peak this year at 890 million tonnes, a growth of 1.5%, according to Wood Mackenzie. With China responsible for half of global steel demand, Chinese government policy remains core to Wood Mackenzie’s view.
All eyes will be on the Indonesian nickel market in 2020. The knives may be out for the country’s nascent stainless industry but the staggering potential for expansion in NPI may reduce the impact of the nickel ore export ban to a minor inconvenience. Although the global battery sector share of nickel demand is much smaller than other metals, getting the quantity of nickel that EVs will need by the mid-2020s will remain a challenge.
Gold is poised to perform strongly in 2020, with geopolitical risk set to remain elevated, according to Wood Mackenzie.
Solar system prices will continue to drop over the next decade, driven by advances in module efficiency, manufacturing, labour practices and software, according to Wood Mackenzie.
The most important driver of the zinc market in 2020 will be the performance of the world’s zinc smelting industry, according to Wood Mackenzie.
Overall flexible packaging demand in Asia grew by 4.8% in 2019, down from 5.6% in 2018. This was mainly due to slower growth rates in major national markets, according to Wood Mackenzie.
The next decade is set to deliver more of the same for solar PV, according to Wood Mackenzie.
The starting gun has sounded for the global storage market, which is set to grow from approximately 4GW of annual deployments in 2019 to more than 15GW in 2024, according to Wood Mackenzie.
2019 saw nearly 100GW of global wind turbine order capacity, shattering the previous record set in 2018, according to new analysis from Wood Mackenzie.
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.
Approximately $2.1 billion in cumulative disclosed corporate-level investment was deployed into off-grid energy access markets between 2010 and 2019.
Over the next decade, traditional fuel-based generation will shrink as a proportion of the power mix. This will increase the flexibility needs of utility and power markets, according to Wood Mackenzie.
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.
If coronavirus containment measures continue to curtail movement of goods and people through Q2 this year, alongside an economic downturn, the market impact could trim Wood Mackenzie’s 2020 global energy storage deployments forecast by 19%.
Wood Mackenzie has trimmed its forecast for US behind-the-meter (BTM) energy storage in 2020 by 31% as a result of the coronavirus crisis.
In a new report, Wood Mackenzie projects that India could face over 21.6% or 3 gigawatts (GW) of solar photovoltaic (PV) and wind installations being delayed as a result of the country’s lockdown.
Global electric vehicle (EV) sales closed at 2.2 million in 2019. This number is expected to drop 43% to 1.3 million by the end of 2020, according to new research from Wood Mackenzie.
According to new analysis from Wood Mackenzie, annual average wind turbine supply is forecast to hit $60 billion between 2020 and 2028 - reflecting an increase of 8% compared to 2019.
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%.
Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.
A new report from Wood Mackenzie shows that olefins production losses in Asia have reached historical highs as a result of regional lockdowns in the wake of the coronavirus outbreak.
Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.
According to the latest analysis by Wood Mackenzie, China’s oil demand will recover to 13 million barrels per day (b/d) in Q2 2020, a 16.3% jump compared to Q1 this year.
The U.S. solar market installed 3.6 gigawatts (GW) of new solar photovoltaic (PV) capacity in Q1 2020, representing its largest first quarter ever and 40% of all new electric generating capacity additions in the United States.
– European gas storage is forecast to reach 100% by the end of September and remain full until the end of October, with an additional 4 million tonnes per annum (mmtpa) of floating storage also accumulated according to a new report by data and analytics company Wood Mackenzie.
Singapore's low carbon power target of 4 GW achievable by 2035
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