The global energy demand is set to rise by around a third by 2040, driven by improvement in living standards, particularly in India, China and across Asia. Also, renewables will become the largest source of global power generation by then. These are the key highlights of BP Energy Outlook 2019.
The much-awaited annual publication on energy sector statistics was launched in London today by Spencer Dale, Group Chief Economist and Bob Dudley, Group Chief Executive Officer (CEO) of BP.
The Outlook states that energy consumed by industry and buildings will account for around 75 per cent of the increase in overall energy demand, while growth in energy demand from transport slows sharply relative to the past as gains in vehicle efficiency accelerate. Read More