Will BP Stop Publishing World Energy Review?
Amid reports that BP was thinking about stopping the publication of its statistical review of world energy, Rigzone asked the company to confirm if it is going to stop publishing the annual report.
“We’re looking at options for publishing the annual statistical review of world energy, but as yet we’ve taken no decision,” a BP spokesperson told Rigzone.
“We know the review is a valuable source of objective and comprehensive data and ensuring this continues is an important consideration. However, the world of energy is changing fast and becoming ever more complex, and our energy and economics team are focused on understanding different elements of the energy transition and their implications for BP,” the spokesperson added.
BP’s statistical review of world energy analyzes data on world energy markets from the prior year. The review has been providing timely, comprehensive and objective data to the energy community since 1952, BP notes in its latest review - the 71st edition which was published back in June this year.
In the review, BP revealed that primary energy demand increased by 5.8 percent in 2021. This exceeded 2019 levels by 1.3 percent, according to the review, which noted that fossil fuels accounted for 82 percent of primary energy use last year. This was down from 83 percent in 2019 and 85 percent five years ago, the review showed.
The review outlined that oil consumption increased by 5.3 million barrels per day in 2021 but remained 3.7 million barrels per day below 2019 levels. Global oil production increased by 1.4 million barrels per day in 2021, according to the review, which highlighted that OPEC+ accounted for more than three-quarters of the increase.
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