Energy consumption by fuel (billion tonnes of oil equivalent)
Today around 32% of energy consumed comes from oil, 30% from coal, and 24% from gas – so 86% from fossil fuels in total. Hydroelectricity accounts for 7%, nuclear for 4% and other renewables for just 3%.
We believe a diverse mix of fuels and technologies is needed to meet growing energy demand, while supporting the transition to a lower-carbon economy. These are reasons why our portfolio includes oil, gas and renewables.
Over the next few decades, we think oil and natural gas are likely to continue to play a significant part in meeting demand for energy.
The world economy is likely to more than double from 2014 to 2035, largely driven by rising incomes in the emerging economies and a projected population increase of 1.5 billion.
We expect world demand for energy to increase by as much as 34% between 2014 and 2035.
(Source: BP Energy Outlook)