Tag: energy outlook

What will the energy mix look like in 2035, compared with 2013 – in million tonnes of oil equivalent (Mtoe)?   Energy Outlook 2035 is not 'a crystal ball', rather a projection of broad future energy trends, according to BP's chief economist, Spencer Dale. Presenting the Outlook for the first time since joining BP from the Bank of England in October 2014, Dale reveals what the publication has to say on current oil prices and changing world energy trade patterns. By 2035 global energy consumption increases by 37% from today’s levels with virtually all (96%) the growth in non-OECD countries and more than half coming from India and China Country and regional insights - Global World energy demand is projected to be 37% higher in 2035 with India and China accounting for half the growth. By sector, inputs to power generation account for nearly 60% of the growth Global energy intensity in 2035 is half of what it was in 1995 and 36% lower than 2013. However, global energy use per capita is projected to increase by 12%. The US becomes energy self-sufficient by 2021. And by 2035 could be exporting 9% of its total energy supply. Meanwhile, China overtakes ...

Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia – particularly in China and India – will drive continued growth in the world’s demand for energy over the next 20 years. According to the new edition of the BP Energy Outlook 2035, global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year. The Outlook looks at long-term energy trends and develops projections for world energy markets over the next two decades. The new edition was launched today in London by Spencer Dale, BP’s group chief economist, and Bob Dudley, group chief executive. “After three years of high and deceptively steady oil prices, the fall of recent months is a stark reminder that the norm in energy markets is one of continuous change,” said Spencer Dale. “It is important that we look through short term volatility to identify those longer term trends in supply and demand that are likely to shape the energy sector over the next 20 years and so help inform the strategic choices facing the industry and policy makers alike.” US tight oil grows The Outlook projects that demand for oil ...