Offshore development of new gas assets has been identified as a key piece to Colombia’s long-term energy security, but significant challenges remain. The size, production capability, and required infrastructure investments all make the situation uncertain, energy industry intelligence group Wood Mackenzie has found.According to Wood Mackenzie, the development of recent offshore gas discoveries at Gorgon…
A prominent energy research firm slashed its five-year outlook for new U.S. wind energy projects by 40% on Tuesday, citing Trump administration policies and concerns about the economy.Wood Mackenzie expects the United States to install 45.1GW of wind…
According to its latest market outlook, Wood Mackenzie projects that Brent crude oil prices will average $73.00 per barrel (bbl) in 2025. The forecast considers geopolitical and economic factors, including potential peace talks between Russia and the US regarding the Ukraine conflict…
Suriname's Staatsolie needs to secure an unprecedented $1.5 billion in bank financing this year to ensure it can participate in the country's Gran Morgu energy project, the head of the state-owned company told Reuters.The project, led by TotalEnergies…
As the risk of a delayed energy transition scenario increases, so does the possibility of a much greater pull on future oil and gas supply, but meeting this demand would require a significant increase in upstream investment, resulting in higher hydrocarbon prices…
Global onshore wind turbine orders hit 91.2 gigawatts (GWs) in the first half of the year, a 23% year-on-year rise, due to higher demand in the second quarter from China's northern region, Wood Mackenzie said in a report on Monday.China's wind…
Carbon Capture Utilisation and Storage (CCUS) is a crucial element in global decarbonization, but current economics limit CO2 utilisation deployment, according to a recent report from Wood Mackenzie.In Wood Mackenzie’s 2050 net zero scenario…
Iraq’s upstream sector is undergoing rapid change, with an increasingly diverse corporate ecosystem, and significant investment being funneled into boosting oil and gas production. That said, crucial infrastructure issues still need to be overcome…
Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth is forecast for energy storageFrom 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online…
Energy data ana analytics firm Wood Mackenzie announced that Jason Liu has been appointed Chief Executive Officer (CEO), replacing former CEO Mark Brinin, who is departing to pursue other opportunities.Liu brings to the position more than 25…
Asian liquefied natural gas (LNG) demand is projected to increase by 5% at 12 million tons (Mt) in 2024, following a 2% at 5 Mt growth in 2023, according to the most recent report by Wood Mackenzie.China, the world’s largest LNG import market…
The European power market will see its carbon intensity plummet as the region pursues ambitious climate-energy policies, but flexibility is key to enable this change, according to Peter Osbaldstone, Research Director, Europe Power & Renewables at Wood Mackenzie…
Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Scientists have said…
The global offshore wind supply chain will require US$ 27 billion of secured investment by 2026 if it is to meet a fivefold growth in annual installations (excluding China) by 2030, according to energy intelligence group Wood Mackenzie.This…
Exploration spending (excluding appraisal) will recover from historic lows to an average of $22 billion per annum in real terms over the next five years, according to a new report from Wood Mackenzie.Tailwinds from attractive exploration economics…
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