"BP CEO: "The world is on an unsustainable path"
The oil major's 68th Statistical Review of World Energy found a siparity between demands for climate change action and the actual pace of progress
BP Chief Executive Bob Dudley addresses The 22nd World Petroleum Congress in Istanbul on July 12 2017
,oilandgas middleeast,Carla Sertin
Jun 12, 2019
BP released its 68th annual Statistical Review of World Energy (BP Stats Review), which found a growing divergence between demands for action on climate change and the actual pace of progress on reducing carbon emissions.
Global energy demand grew 2.9% in 2018, while carbon emissions grew 2%, which BP says is faster than any time since 2010 to 2011. Energy demand growth was driven by China the US and India, which collectively accounted for two thirds of the growth. In the report, Spencer Dale, BP's chief economist, attributed much of the growth to surprising weather effects, noting that there was an unusually large amount of hot and cold days which would require heating or cooling services.