From action to impact: Positive results for global energy transition – BP report

The world is rising to the challenge of meeting its energy demand while reducing carbon emissions, according to BP in its latest “Statistical Review of World Energy” report.

Global energy demand grew by 1 percent in 2016, driven by developing economies — most notably China and India — which accounted for close to half of all growth.

Within the same year, global coal consumption and production declined by 1.7 percent and a record 6.2 percent respectively, while renewables were the fastest growing energy source again with an increase of 12 percent.

This combination of a low energy demand growth and a continued shift in the fuel mix has resulted in a mere 0.1 percent increase in global carbon emissions — making 2016 the third consecutive year of little or no growth in carbon emissions. This marks the lowest three-year average for emissions growth since the period of 1981 to 1983.

Highlights across the energy sources in 2016 include:

• Oil
  Global oil consumption was above the 10-year average for a second consecutive year, growing by 1.6 percent, with strong increases in demand from India, China and Europe.
  Global production was impacted by sustained low prices and increased by 0.5 percent — the lowest since 2009.
• Gas
  Global gas consumption grew by 1.5 percent but remained lower than the 10-year average of 2.3 percent, with strong increases in consumption in Europe (up 6 percent), the Middle East (up 3.5 percent), and China (up 7.7 percent).
  Global production increased by 0.3 percent, the lowest growth in gas output in 34 years (excluding the financial crisis).
• Coal
  Global coal consumption fell by 1.7 percent, a second successive annual decline, driven primarily by the US (down 8.8 percent) and China (down 1.6 percent).
  Global production fell by a record 6.2 percent, driven again by the US (down 19 percent) and China (down 7.9 percent).
• Renewables
  Renewable power (excluding hydro) grew by 14.1 percent, below the 10-year average, but the largest increment on record (53 million tonnes of oil equivalent or Mtoe).
  Asia Pacific overtook Europe & Eurasia as the largest producing region of renewable power, with China overtaking the US to be the largest single renewables producer.

For more trends, statistics and analysis, please view the full report here.

By : BP