Highlights of BP’s 2015 Statistical Review of World Energy

China consumes more energy than all of North America combined: BP

The United States was awarded the banner of “Greatest Hydrocarbon Producer” in BP plc’s (ticker: BP) latest Statistical Review of World Energy. The achievement is considerable, but BP’s intentions move far beyond naming and world’s leading energy manufacturer. The 2015 Statistical Review is the 64^th publication and takes more than 700,000 single data entries to determine the evolving global energy sphere. Some notable highlights of the latest report are listed below.

2014

• Consumption reached record highs for all fuels, excluding nuclear, but grew at its slowest rate since 2009.
• CO2 emissions grew at its slowest rate since 1998.

Oil

• Oil lost market share for the 15^th straight year but still remains the world’s primary fuel source, accounting for 32.6% of consumption.
• United States production in 2014 increased by 1.6 MMBOPD, and is the first country to grow production by at least 1 MMBOPD for three straight years. Net oil imports are 7.3 MMBOPD less than 2005 totals.
• United States refinery runs increased by 0.53 MMBOPD – the largest increase since 1986.

Natural Gas

• Consumption from the European Union (EU) was 11.6% – the largest on record.
• Global pipeline shipments declined by 6.2%, also the largest on record. The decline can be attributed to frayed relations with Russia, whose net pipeline exports fell by 11.8%.
• Liquefied natural gas trade accounts for 33.4% of all trade flows.

Miscellaneous

• Renewables accounted for 3% of global consumption, which is more than three times the amount from a decade ago.
• The United States is leading the charge in renewable energy, nearly doubling its output from 2010. The nation now accounts for 20% of global renewable consumption.
• The United States accounts for 33% of global nuclear energy. The next greatest is France, which accounts for about 17%.
• Japan’s nuclear energy use was nonexistent in 2014. In 2011, the country consumed 66.2 million tons of oil equivalent, more than the rest of the Asia Pacific combined and roughly 10% of global consumption.
• Germany’s nuclear consumption has dipped by 30% since 2010. Renewables have picked up the slack, completely replacing the reduced nuclear use. Germany’s renewable program has increased output by 60% since 2010.
• China is the world’s leading producer of hydroelectricity and produces more than 33% of combined North American hydroelectric production.
• China consumes more energy than all of North America combined. The United States and China combined account for 40.8% of global consumption, which is roughly equal to the overall consumption of the remainder of Asia and Europe.