North Sea decommissioning expansion facing ‘speed bumps’, report finds
The North Sea is unlikely to see rapid growth in decommissioning due to several "speed bumps" slowing the shut down of assets, according to analyst firm Wood Mackenzie.
Wood Mackenzie
Energy transition requires extra $1.75tn a year – report
Global investment in the energy transition must double to $3.5 trillion a year to keep global warming below catastrophic levels, according to a new report by analytics and consultancy firm Wood Mackenzie.
UK could extract further £10bn from North Sea under right fiscal conditions, WoodMac says
The UK could unlock up to £10 billion of North Sea oil and gas pre-tax value from existing assets under the right fiscal regime, a new report has found.
Hopes rise for North Sea windfall tax “successor”
Analyst Wood Mackenzie believes "where there’s a will, there’s a way" in achieving a consensus on an improved system of taxation despite differences of opinion between government, industry and North Sea investors.
Labour policies could see North Sea companies ‘fatally wounded’ in five years
A new report warns that smaller North Sea oil and gas companies are facing a bleak future under the Labour government's plans to increase the windfall tax and cut investment allowances.
NEO merger would fit Repsol ‘quite nicely,’ says analyst
A rumoured tie-up between Repsol and NEO Energy would be a good fit for the Spanish firm which has one of the biggest decommissioning liabilities in the North Sea, an analyst has said.
Noble grabs ‘first mover advantage’ with Diamond Offshore acquisition
Noble Corporation (NYSE:NE) has grabbed "first mover advantage" in an offshore rig market set for further consolidation, according to analyst firm Wood Mackenzie.
A Trump win puts $1 Trillion in US energy investments at risk
A victory by Republican Donald Trump in the US presidential election threatens $1 trillion in energy investments and future support for low-carbon energy sources, according to a Wood Mackenzie report.
Wood Mackenzie unveils new “ideal” CEO
Energy data firm Wood Mackenzie has announced the appointment of a new CEO as his predecessor moves on to "pursue other opportunities".
Is the UK falling behind Norway on cross-border CO2 transport and storage?
The UK risks wasting its "naturally advantageous position" on CO2 transport, according to one analyst.
Windfall tax extension ‘surprising choice’ for UK Govt – Wood Mackenzie
"A tax that is now expected to have a seven-year lifespan under stable prices does not abide by most definitions of a ‘windfall’ tax."
Wind, CCS projects risk ‘being delayed or shelved altogether’ by Labour windfall tax plan
New analysis by Wood Mackenzie has forecast the financial impact of Labour's windfall tax proposals, warning that key CCS and wind projects could grind to a halt.
Skerryvore: The UK North Sea ‘well to watch’ this year
Analysts have named Parkmead Group’s (AIM: PMG) Skerryvore as the UK North Sea well to watch this year.
Biggest carbon-capture project is at risk, Wood Mac warns
The world’s largest carbon-capture project is at risk of never being built because of uncertainty about Canadian government incentives, according to Wood Mackenzie Ltd.
‘Should they stay or should they go?’ More North Sea exits predicted in 2024
Analyst firm Wood Mackenzie has predicted more firms could exit the UK North Sea in 2024.
Is electrification really the answer for the UK North Sea?
The desirability of electrification in a mature North Sea is questionable, writes Wood Mackenzie.
What will be the last platform in UK waters?
It’s no secret that the UK has a declining basin and as the country transitions to net zero, oil and gas platforms will cease production and later be decommissioned. However, which asset will be the last one standing?
New NSTA electrification plans matter of ‘huge concern’ for operators
New proposals by the UK North Sea regulator on emissions and electrification are likely to impact future exploration and decommissioning plans across the basin, according to analysts.
Road to ADIPEC 2: Policy and finance in the road to net zero
“Energy transitions will play out in different ways, and that means investing in different projects at different stages in different parts of the ecosystem,” Storch noted.
Wood Mac finds ‘no major country is on track to meet their 2030 emissions reduction goals’
Wood Mackenzie has said "no major country is on track to meet their 2030 emissions reduction goals" following a recent report.
‘The outcome the sector needed?’: CfD wind auction flop could spark action, says Wood Mac
Why did the auction flop? And what needs to change?
‘Real doubt’ over feasibility of CNS electrification plans
Analysts have questioned the feasibility of electrifying major Central North Sea assets given the maturity of the area.
‘Unrealistic’ offshore wind targets face $100bn supplier investment hurdle
Policymaker targets for global offshore wind are “unrealistic” due to the tens of billions of dollars of investment needed near-term in the supply chain.
WoodMac tips oil and gas exploration spend to average $22bn a year through to 2027
Driving the looming increase is tailwinds from attractive exploration economics, the need for energy security and the emergence of new frontiers.
WoodMac: Upstream spend of $500bn a year enough to meet peak oil demand in 2030s
Investment of half a trillion US dollars a year will be enough for the world to meet peak oil and gas demand in the 2030s, according to new analysis.