China would ‘need $5 trillion of investments’ to be carbon-neutral by 2060

The country’s solar, wind and storage capacities will have to increase 11 times by 2050 compared to 2020 levels, according to a new report

‘Nearly 323 million EVs will be on the world’s roads by 2040’

EV sales are predicted to reach 45 million units every year by 2040, according to a new report

‘Global oil demand could peak as early as 2036’

That’s according to energy consultancy Wood Mackenzie, which suggests petrol demand will be the initial driver

Norway’s oil and gas sector not looking good for 2015

Prospects for the Norwegian oil and gas industry are not looking good this year, according to experts. Research by sector analysts Wood Mackenzie, warns that cuts in oil and gas exploration and development will be substantial. This follows the drastic fall in the price of oil towards the end of 2014. Dr Malcolm Dickson, Principal […]

Low oil price “could halve UK spend in 2015”

The amount of money spent on getting oil and gas out of the UK’s stretch of North Sea could halve if low oil prices continue, suggests new analysis by Wood Mackenzie. Its latest yearly review is positive about investment in the UK in 2014, finding it to be in the top 10 countries for “upstream” […]

‘Russia needs foreign money for long term oil production’

Russia needs to attract international investment to its oil and gas sector if it is to maintain production in the long run. That’s according to research and consulting firm Wood Mackenzie, which said the country needed to switch its focus away from the low hanging fruit of conventional onshore projects to more difficult and costly […]

More cars ‘will push Chinese oil imports to $500bn’

China is on course to import $500 billion (£319bn) of crude oil by 2020, far outspending the US, as more of its citizens plump for their own cars. By 2020 the Asian superpower will rely on imports to meet 70% of its demand according to new analysis which predicts between 2005 and 2020 Chinese imports […]

Spanish firm discovers huge Argentinian oil trove

Spanish oil firm Repsol has struck a huge trove of Argentinian oil which it says is its largest ever find. A reservoir in Neuquén, a southern province of Argentina, yielded 927 million barrels of oil equivalent, 741 million of which are oil.15 vertical wells were drilled in the Vaca Muerta formation, which analyst Wood Mackenzie […]

Healthy future projected for UK offshore projects

A healthy future is in store for new UK offshore oil projects in the pipeline, according to analysts. A team at consultancy Wood Mackenzie says that 50 fields, containing over two billion barrels of oil equivalent, are looking likely to get permission for development. However the number of successful projects in the area will be […]