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Multinational Overview


in figures

World oil production:89.2 million bopd

World oil consumption:91 million bopd

World gas production:3.88 tcm

World gas consumption:3.85 tcm

The future of the multinational energy mix

The International Energy Agency (IEA) in its World Energy Outlook annual report presents a set of scenarios exploring different futures, measures – or the absence of measures – which make them possible and the interconnections between components of the system.
The “current policies” scenario illustrates what happens if the world continues its current trajectory without the adoption of additional measures. In this scenario, energy demand will grow by 1.3% per year until 2040, and the boom in demand of energy services won’t be limited by any additional effort to improve energy efficiency. If this figure is much lower than the notable growth of 2.3% recorded in 2018, the result will nonetheless be steadily increasing energy-related emissions, as well as increased pressure on most aspects of energy security.
The “stated policies” scenario goes further and integrates the intentions and objectives confirmed by policies. This scenario was renamed in order to emphasize that it only takes into account political initiatives already announced and accompanied by specific programmes. The objective is to present a mirror to the strategies of political decision makers and to illustrate the consequences, not to guess how political priorities will evolve in the future.
In the “stated policies” scenario, energy demand grows by 1% per year until 2040. Low-carbon energy sources, primarily solar photovoltaic (PV), respond to more than half of this growth and natural gas, stimulated by the growth in LNG trade, represents a third. Oil demand plateaus in the 2030s and coal consumption decreases slightly.
Certain energy sectors, in particular the electricity sector, are undergoing rapid transformation. Several countries, especially those aspiring to carbon neutrality, are carrying out a significant overhaul of their supply and consumption. However, the development of low-carbon technologies is not enough to offset the effects of global economic and demographic growth. Although the increase in emissions slows down in this scenario, in the absence of a peak before 2040, common sustainable development goals remain out of reach.
The “sustainable development” scenario proposes a trajectory allowing achievement of the sustainable development objectives relating to energy, which requires profound and rapid changes at all levels of the energy system. This scenario defines a trajectory perfectly in accordance with the Paris Agreement by containing the elevation in global temperatures well below 2 degrees Celsius and continuing the action conducted to limit them to 1.5 degrees Celsius. It also meets the objectives of universal access to energy and improving air quality.

OPEC+ agrees to boost oil output
Multinational - June 03, 2022

OPEC+ members have agreed to a rise in production of 648,000 bopd in July 2022 and the same amount in August 2022, the…

Ready to compete in Angola and beyond EngConsult Claudio FRANCISCO
Angola - May 30, 2022

Claudio Francisco, general manager of ENGCONSULT, talks to The Energy Year about the company’s involvement and strategy in…

Energy, Ukraine and the Turkish question Mehmet Ogutcu
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Mehmet Öğütçü, CEO of Global Resources Partners and chairman of the London Energy Club, talks to The Energy Year about changes in the global energy picture brought…

EU proposes stiff ban on Russian oil
Multinational - May 05, 2022

European Commission President Ursula von der Leyen has proposed a full oil embargo on Russia from EU states, Reuters announced on Wednesday.

The sanctions would see…

A one-stop shop for security in Angola G4S Venancio-EPOLUA
Angola - April 11, 2022

Venancio Epolua, general manager of G4S, talks to The Energy Year about the security services G4S provides for Angola’s oil and gas industry, how the pandemic and…

A track record of reliability and growth Petro Extra Nigeria John-YOWIKA
Nigeria - April 06, 2022

John Yowika, CEO of Petro Extra Energy Services, talks to The Energy Year about the company’s development, its business strategy and its approach to regional…




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