BP Global Review Reveals New Highs in Energy Consumption

BUSINESS TURKMENISTAN
BP Global Review Reveals New Highs in Energy Consumption
The BP’s Statistical Review of World Energy 2020 covers energy data through 2019.

Primary energy consumption grew by 1.3% last year, which was less than half the rate of 2018 (2.8%), according to new global data from oil giant BP.

The BP’s Statistical Review of World Energy 2020 covers energy data through 2019, and provides a comprehensive picture of supply and demand for major energy sources on a country-level basis.

Although the energy consumption growth slowed last year compared to 2018, this still represents the 10th consecutive year that the world set a new all-time high for energy consumption, Forbes reported last Saturday citing the review.

The largest share of the increase in energy consumption, 41%, was contributed by renewables. Natural gas contributed the second largest increment with 36% of the increase.

However, as an overall share of energy consumption, oil remained on top with 33% of all energy consumption. The remainder of global energy consumption came from coal (27%), natural gas (24%), hydropower (6%), renewables (5%), and nuclear power (4%).

China was responsible for three quarters of the world’s energy consumption growth, followed by India and Indonesia. The U.S. and Germany were responsible for the largest declines.

Natural gas consumption rose by 2% in 2019 as the share of natural gas in primary energy consumption rose to a record high of 24.2%.

Renewable energy continued its growth with the largest increase in consumption on record. China once again led all countries in consumption of renewables, followed by the U.S. and Japan. The share of renewables in global power generation increased to 10.4%, surpassing nuclear power for the first time.