Bernard Looney, BP CEO, described the current environment as “a pivotal moment” in his introduction to the company’s Statistical Review of World Energy.

The Review sees a mixed picture, with continuing strong growth in renewables but also a continuing persistent growth in carbon emissions.

The Review notes that growth in primary energy consumption slowed to 1.3 per cent in 2019, less than half the rate of growth the previous year (2.8per cent) and that carbon emissions from energy use grew by only 0.5 per cent in 2019, (2.1 per cent in 2018). However, the average annual growth in carbon emissions over 2018 and 2019 was greater than its 10-year average.

Adding to the mixed picture, Renewables contributed their largest increase in energy terms on record, accounting for over 40 per cent of the global growth in primary energy last year, more than any other fuel. Their share in power generation (10.4 per cent) also surpassed nuclear for the first time.

For other energy sources, natural gas consumption increased by 2 per cent, Oil consumption grew by 0.9 per cent, and coal’s share fell by 0.6 per cent. However, coal remained the single largest source of energy for power generation, accounting for over 36 per cent of global power globally.

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