Researchers say we are still heading in the opposite direction to that required by the Paris Agreement. Read more at straitstimes.com.
LONDON - Global energy demand rose 1 per cent last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82 per cent of supply, the industry’s Statistical Review of World Energy report said on Monday.which helped to boost gas and coal prices to record levels in Europe and Asia.
“Despite further strong growth in wind and solar in the power sector, overall global energy-related greenhouse gas emissions increased again,” said the president of the UK-based global industry body Energy Institute, Juliet Davenport.The annual report, a benchmark for the industry, was published for the first time by the Energy Institute together with consultancies KPMG and Kearny after they took it over from BP, which had authored the report since the 1950s.
Oil production grew by 3.8 million bpd, with the lion’s share coming from OPEC members and the United States. Nigeria saw the largest decline.Oil consumption increased by 2.9 million barrels per day to 97.3 million bpd, with growth slowing compared with the previous year. PHOTO: REUTERSAmid record prices in Europe and Asia, global gas demand fell 3 per cent but still made up 24 per cent of primary energy consumption, slightly below the previous year.
Coal consumption rose 0.6 per cent, its highest level since 2014, driven mainly by Chinese and Indian demand, while consumption in North America and Europe declined.
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