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BP Statistical Review shows strong global energy demand and rising emissions

11 June 2019

BP has released its annual Statistical Review of World Energy, showing that the global economic growth experienced in 2018 was fueled by a strong increase in energy consumption, and resulted in a corresponding increase of CO2 emissions. The highest contributors to the global primary energy growth were China (34% of the 2018 growth), followed by the United States (20%) and India (15%). US consumption expanded at its fastest rate for 30 years.

Primary energy consumption increased by 2.9% in 2018. Growth was the strongest since 2010 and almost double the 10-year average of 1.5% per year. Carbon emissions grew by 2.0%, the fastest growth for seven years.

“The world is not on a sustainable path. If anything, we are moving further away from it, rather than getting closer,” said Bob Dudley, BP Chief Executive, in a speech at the launch event of the report in London. “There has to be a greater sense of urgency, because the longer carbon emissions continue to rise, the harder and more costly the necessary eventual adjustment to net-zero carbon emissions.”

“Carbon emissions from energy use are estimated to have grown by around 2% last year. That’s roughly the equivalent to carbon emissions associated with increasing the number of passenger cars on the planet by a third. This number is material. This increase stems pretty much directly from the growth in energy demand,” said Spencer Dale, BP Group Chief Economist.

Primary energy—world consumption (million tonnes oil equivalent)

The growth for all fuels increased but growth was particularly strong in the case of gas (168 mtoe accounting for 43% of the global increase). All fuels grew faster than their 10-year averages, apart from renewables, although renewable still accounted for the second largest increment to energy growth (71 mtoe, 18% of the global increase).

In the OECD, energy demand increased by 82 mtoe on the back of strong gas demand growth. In the non-OECD energy demand growth (308 mtoe) was more evenly distributed with gas (98 mtoe) coal (85 mtoe) and oil (47 mtoe) accounting for most of the growth.

Some of the highlights from the BP Statistical Review are:

Source: BP Statistical Review of World Energy