BP Statistical Review of World Energy 2016 released
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Posted on:11 Jun 2016 09:09:26
11 June 2016 Current Affairs: The 65th edition of the BP Statistical Review of World Energy that sets out energy data for 2015 was released on 8 June 2016.
The review provides high-quality objective and globally consistent data on world energy markets, while the energy outlook makes projections to 2035. Its first edition was released in 1952
It revealed that in 2015 there were significant long-term trends in both the global demand and supply of energy. As the Growth in global primary energy consumption remained low in 2015 and the fuel mix of energy sources shifted towards lower-carbon fuels.
Highlights of the BP Statistical Review : Global primary energy consumption increased by just 1 percent in 2015, similar to the below-average growth recorded in 2014 (+1.1 percent) and well below its 10-year average of 1.9 percent.Oil remained the world’s leading fuel which was accounting for 32.9 percent of global energy consumption. It gained market share for the first time since 1999.
Although merging economies continued to dominate the growth in global energy consumption, growth in those countries (+1.6 percent) was well below its 10-year average of 3.8 percent. Global oil consumption grew by 1.9 million barrels per day (b/d), or 1.9 percent which was nearly double the recent historical average (+1 percent) and significantly stronger than the increase of 1.1 million b/d seen in 2014.
Natural gas market share of primary energy consumption was 23.8percent. Global crude runs rose by 1.8 million b/d (+2.3 percent) which was more than triple their 10-year average growth, although there were declines in South & Central America, Africa and Russia.
World natural gas consumption grew by 1.7 percent in 2015 which was a significant increase from the very weak growth (+0.6 percent) that was seen in 2014 but still below the 10-year average of 2.3 percent.
Global nuclear output grew by 1.3 percent with China (+28.9 percent) accounting for virtually all of the increase. China has passed South Korea to become the fourth-largest supplier of nuclear power.Renewable energy sources in power generation continued to increase in 2015 that reached 2.8 percent of global energy consumption, up from 0.8 percent a decade ago.
BP : BP is one of the world's leading integrated oil and gas companies. It provides fuel for transportation, energy for heat and light, lubricants to keep engines moving for its customers. It also provides the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.
Its projects and operations help to generate employment, investment and tax revenues in countries and communities across the world. It aims to create value across the hydrocarbon value chain, which starts with exploration and ends with the supply of energy and other products fundamental to everyday life.
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