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Full Report – BP Statistical Review of World Energy 2019

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Full Report – BP Statistical Review of World Energy 2019 BP Statistical Review of World Energy 2019 | 68th edition Contents Introduction For 66 years, Natural the BPgas Statistical Review of WorldRenewable energy 1 Group chief executive’s introductionEnergy 3has 0 Reserves provided high-quality objective 5 1 andRenewables consumption 2 2018 at a glance globally 3consistent 2 Production data on world energy 52 markets. Generation by source 3 Group chief economist’s analysisThe review 3 4 Consumption is one of the most widely respected 5 3 Biofuels production and authoritative 3 7 Prices publications in the field of energy 3 8 Trade movements Electricity Primary energy economics, used for reference by the media, 8 Consumption 5 4 Generation 9 Consumption by fuel academia, Coalworld governments and energy 56 Generation by fuel 12 Consumption per capita companies. 4 2 Reserves A new edition is published every June. 44 Production CO2 Carbon Oil 45 Consumption 5 7 Carbon dioxide emissions 1 4 Reserves Discover more 47 onlinePrices and trade movements 1 6 Production All the tables and charts found in the latest printed Key minerals edition are available at bp.com/statisticalreviewNuclear energy 20 Consumption plus a number of extras, including: 5 8 Production • The energy charting tool – view 4 8 Consumption 2 4 Prices predetermined reports or chart specific data 59 Reserves 2 6 Refining according to energy type, region, country 59 Prices and year. Hydroelectricity 2 8 Trade movements • Historical data from 1965 for many sections. • Additional data 4 9for refinedConsumption oil production Appendices demand, natural gas, coal, hydroelectricity, nuclear energy and renewables. 6 0 Approximate conversion factors • PDF versions and PowerPoint slide packs of 6 0 Definitions the charts, maps and graphs, plus an Excel workbook of the data. 6 1 More information • Regional and country factsheets. • Videos and speeches. Energy Outlook Discover more online Watch the BP Energy Outlook 2017 video, Download the BP World Energy app All the tables and charts found in the printedcontaining edition our projectionsare available of long-term energy Explore the world of energy from your tablet or smartphone. at bp.com/statisticalreview plus a number trendsof extras, to 2035. including: Download the booklet and Customize charts and perform the calculations. Review presentation materials at bp.com/energyoutlook the data online and offline. Download the app for free from The energy charting tool – view predetermined reports or chart Join the conversation the Apple App Store and Google play store. specific data according to energy type,#BPstats region, country and year. Historical data from 1965 for many sections.Download Additional the BP World Energy app country and regional coverage for all consumption tables. Explore the world of energy from your tablet or Additional data for refined oil productionsmartphone. demand, Customize natural charts gas, and performcoal, the hydroelectricity, nuclear energy and renewables.calculations. Review the data online and offline. Download the app for free from the Apple PDF versions and PowerPoint slide packsApp Store of the and charts,Google play maps store. and graphs, plus an Excel workbook and database format of the data. Regional and country factsheets. Videos and speeches. Disclaimer The data series for proved oil and gas reserves in BP Statistical Review of World Energy June 2017 does not necessarily meet the definitions, guidelines and practices used for determining proved reserves at company level, for instance, as published by the US Securities and Exchange Commission, nor does it necessarily represent BP’s view of proved reserves by country. Rather, the data series has been compiled using a combination of primary official sources and third-party data. Group chief executive’s introduction The developments documented in this year’s Statistical Review highlight a critical challenge facing the global power sector. Power demand increased even more strongly than overall energy demand in 2018, as the world continued to electrify. But this shift towards greater electrification can play an important part in the energy transition only if it is accompanied by a decarbonization of the power sector. Despite the continuing rapid growth in renewable energy last year, it provided only a third of the required increase in power generation, with coal providing a broadly similar contribution. Indeed, the increasing use of coal within the power sector is estimated to have more than accounted for the entire growth of global coal consumption last year. Overall, the electric power sector is estimated to have absorbed around half of the growth in primary energy in 2018 and accounted for around half of the increase in carbon emissions. Decarbonizing the power sector while also meeting the rapidly expanding Welcome to the BP Statistical Review of demand for power, particularly in the developing world, is perhaps the single most important challenge facing the global energy system over the next World Energy, which records the events of 20 years. Renewable energy has a vital role to play in meeting that challenge. 2018: a year in which there was a growing But it is unlikely to be able to do so on its own. A variety of different divide between societal demands for an technologies and fuels are likely to be required, including extensive coal-to- gas switching and the widespread deployment of carbon capture, use and accelerated transition to a low carbon energy storage (CCUS). As I have said before, this is not a race to renewables, it is system and the actual pace of progress. a race to reduce carbon emissions across many fronts. Our industry, and society more generally, face significant challenges as we navigate the transition to a low carbon energy system. That will require understanding and judgement, both of which rely on the kind of objective data and analysis found in the Statistical Review. We are proud of the role In particular, the data compiled in this year’s Review suggest that in 2018, that the BP Statistical Review has played in informing public debate over global energy demand and carbon emissions from energy use grew at their the past 68 years and I hope that you find it a useful resource for your fastest rate since 2010/11, moving even further away from the accelerated own discussions and deliberations. transition envisaged by the Paris climate goals. Let me conclude by thanking BP’s economics team and all those who BP’s economics team estimate that much of the rise in energy growth have helped us prepare this Review – particularly those governments and last year can be traced back to weather-related effects, as families and statistical agencies around the world who have contributed their official data businesses increased their demand for cooling and heating in response to again this year. Thank you for your continuing co-operation and transparency. an unusually large number of hot and cold days. The acceleration in carbon emissions was the direct result of this increased energy consumption. Even if these weather effects are short-lived, such that the growth in energy demand and carbon emissions slow over the next few years, there seems little doubt that the current pace of progress is inconsistent with the Paris climate goals. The world is on an unsustainable path: the longer carbon Bob Dudley emissions continue to rise, the harder and more costly will be the eventual Group chief executive adjustment to net-zero carbon emissions. Yet another year of growing carbon emissions underscores the urgency for the world to change. June 2019 The Statistical Review provides a timely and objective insight into those developments and how that change can begin to be achieved. The strength in energy consumption was reflected across all the fuels, many of which grew more strongly than their recent historical averages. This acceleration was particularly pronounced for natural gas, which grew at one of its fastest rates for over 30 years, accounting for over 40% of the growth in primary energy. On the supply side, the data for 2018 reinforced the central importance of the US shale revolution. Remarkably, the US recorded the largest ever annual increases by any country in both oil and natural gas production last year, with the vast majority of both increases coming from onshore shale plays. At the same time, renewable energy, led by wind and solar power, continued to grow far more rapidly than any other form of energy. BP Statistical Review of World Energy 2019 1 2018 at a glance Global primary energy consumption grew rapidly in 2018, led by natural gas and renewables. Nevertheless, carbon emissions +2.9% rose at their highest rate for seven years. Growth of global primary energy consumption, the fastest growth since 2010. Energy developments Primary energy consumption grew at a rate of 2.9% last year, Global natural gas production increased by 190 bcm, or 5.2%. almost double its 10-year average of 1.5% per year, and the fastest Almost half of this came from the US (86 bcm), which (as with oil since 2010. production) recorded the largest annual growth seen by any country By fuel, energy consumption growth was driven by natural gas, in history. Russia (34 bcm), Iran (19 bcm) and Australia (17 bcm) which contributed more than 40% of the increase. All fuels grew were the next largest contributions to growth. faster than their 10-year averages, apart from renewables, although Growth in inter-regional natural gas trade was 39 bcm or 4.3%, renewables still accounted for the second largest increment to more than double the 10-year average, driven largely by continuing energy growth. rapid expansion in liquefied natural gas (LNG). China, the US and India together accounted for more than two LNG supply growth came mainly from Australia (15 bcm), the US thirds of the global increase in energy demand, with US (11 bcm) and Russia (9 bcm).
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