BP Statistical Review of World Energy
The challenges and uncertainties facing the global energy system are at their greatest for almost 50 years. bp’s Statistical Review of World Energy 2022 reveals that the growing shortages and increasing prices highlight the continuing importance of energy ‘security’ and ‘affordability’ alongside ‘lower carbon’ when addressing the energy trilemma
Energy developments
- Primary energy demand increased by 5.8% in 2021, exceeding 2019 levels by 1.3%.
- Between 2019 and 2021, renewable energy increased by over 8EJ. Consumption of fossil fuels was broadly unchanged.
- Fossil fuels accounted for 82% of primary energy use last year, down from 83% in 2019 and 85% five years ago.
Primary energy in 2021 grew by its largest amount in history, with emerging economies accounting for most of the increase
The increase in carbon emissions in 2021 was driven by the rebound in economic growth
Carbon emissions
- Carbon dioxide emissions from energy use, industrial processes, flaring and methane (in carbon dioxide equivalent) rose 5.7% in 2021 to 39.0 GtCO2e, with carbon dioxide emissions from energy rising 5.9% to 33.9 GtCO2, close to 2019 levels.
- Carbon dioxide emissions from flaring and emissions from methane and industrial processes rose more modestly by 2.9% and 4.6% respectively.
Oil
- Oil prices averaged $70.91/bbl in 2021, the second highest level since 2015
- Oil consumption increased by 5.3 million barrels per day (b/d) in 2021 but remained 3.7 million b/d below 2019 levels.
- A majority of the consumption growth came from gasoline (1.8 million b/d) and diesel/gasoil (1.3 million b/d). Regionally, most of the growth took place in the US (1.5 million b/d), China (1.3 million b/d) and the EU (570,000 b/d).
- Global oil production increased by 1.4 million b/d in 2021, with OPEC+ accounting for more than three-quarters of the increase. Among all countries, Libya (840,000 b/d), Iran (540,000 b/d) and Canada (300,000 b/d) saw the largest increases. Nigeria (-200,000 b/d), the UK (-170,000 b/d) and Angola (-150,000 b/d) reported the biggest declines.
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