The World Energy Outlook is the International Energy Agency's annual flagship publication that provides long-term projections of energy demand, production, trade and investment, by fuel and by region, under several policy scenarios*. These projections currently extend to 2040.
WEO-2015 presents three main scenarios that are differentiated by their energy and climate policy assumptions, with the future energy picture that they portray varying significantly, and introduces a forth in this latest edition:
Global energy demand increases in all WEO scenarios, but government policies play a powerful role in dictating the degree of growth and the degree to which energy-related emissions decouple from energy use. Overall, new energy and climate policies – either those that have been announced or those that are prescribed to meet the world’s climate goal – serve to restrain the pace at which energy demand grows and to weaken, or break (in the case of the 450 Scenario), the link between growth in energy demand and in energy-related emissions, a crucial consideration for COP21.
Moving to oil, markets expect oil prices to head higher as markets work off the current excess supply, but risks remain. The process of adjustment in the oil market is rarely a smooth one, but, in the IEA's Central Scenario, the market rebalances at $89/bbl in 2020, with further increases in price thereafter. Demand picks up to 2020, adding an average of 900 kb/d per year, but the subsequent rise to 103.5 mb/d in 2040 is moderated by higher prices, efforts to phase out subsidies (provided that momentum behind reform is maintained, even as oil prices pick up), efficiency policies, and switching to alternative fuels. Collectively, the United States, EU and Japan see their oil demand drop by around 10 mb/d by 2040. On the supply side, the decline in current upstream spending, estimated at more than 20 percent in 2015, results in the combined production of non-OPEC producers peaking before 2020 at just above 55 mb/d.
* see the definitions at the bottom of this page
It's a one pager PDF full of live links to energy-related data, statistics, and dashboards from leading industry sources. It will be a useful resource for any analyst, business executive, or researcher with an interest in the oil & gas industry, energy companies, biofuels and much more.
According to the latest BP Statistical Review of World Energy, total global reserves, by fossil fuel, are now: Coal - 1,139 billion tonnes Natural Gas - 187 trillion cubic meters Crude Oil - 1,707 billion barrels While these volumes may seem large at a glance, at today's level of extraction and production rates, BP's estimated proved reserves*, by fossil fuel, would be exhausted as follows: Coal - year 2169 Natural Gas - year 2068 Crude Oil - year 2066 BP dutifully acknowledges the abundance of factors that could easily alter these projections, but these factors do not alter the global policy imperitive to support sustainable fossil...
The first half of 2018 saw a continuation of the pickup in global economic growth and industrial production which has supported global steel output and thus demand for metallurgical coal. Metallurgical coal is used to produce coke for steel manufacturing and it is a less abundant form of coal. As China is fastest growing economy and highest share of world metallurgical coal importer (24% in 2017) as a result, China is one of the highest world’s metallurgical coal consumer which is contributed increase in worlds consumption of the coal.
Energy Production Forecast | Energy Consumption Forecast Source: BP Energy Outlook 2035, February 2015
Key Findings: 1) India has a good reserve of coal and lignite the estimated reserves of coal was around 286 billion tones, an addition of 9 billion over the last year 2) There is high potential for generation of renewable energy from various sources- wind, solar, biomass, small hydro and cogeneration bagasse. The total potential for renewable power generation in the country is estimated at 89760 MW