EXXON ENERGY OUTLOOK - 2040
EXXONMOBIL - 2018 Outlook for Energy: A View to 2040
Energy powers modern economies and living standards
By 2030, the world's economic middle class will likely expand from 3 billion to more than 5 billion people. This growth will coincide with vastly improved living standards, resulting in rising energy use in many developing countries as people develop modern businesses and gain access to cars, appliances and air-conditioned homes.
Global energy needs rise about 25 percent, led by non-OECD nations
Despite efficiency gains, global energy demand will likely increase nearly 25 percent. Nearly all growth will be in non-OECD countries (e.g. China, India), where demand will likely increase about 40 percent, or about the same amount of energy used in the Americas today.
Electricity demand nearly doubles in non-OECD nations
Human activity continues to be dependent on reliable supplies of electricity. Global electricity demand will rise by 60 percent between 2016 and 2040, led by a near doubling of demand in non-OECD countries.
Electricity from solar and wind increases about 400 percent
Among the most rapidly expanding energy supplies will be electricity from solar and wind, together growing about 400 percent. The combined share of solar and wind to global electricity supplies is likely to triple by 2040, helping the CO2 intensity of delivered electricity to fall more than 30 percent.
Natural gas expands role to meet a wide variety of needs
The abundance and versatility of natural gas make it a valuable energy source to meet a wide variety of needs while also helping the world shift to less carbon-intensive sources of energy. Natural gas use is likely to increase more than any other energy source, with about half its growth for electricity generation.
Oil plays a leading role to aid mobility and modern products
More electric cars and efficiency improvements in conventional engines will likely lead to a peak in liquid fuels use by the world's liquid light-duty vehicle fleet by 2030. However, oil will continue to play a leading role in the world's energy mix, with growing demand driven by commercial transportation and the chemical industry.
Decarbonization of the world's energy system will accelerate
As the world's economy nearly doubles by 2040, energy efficiency gains and a shift to less carbon-intensive sources of energy will contribute to a nearly 45 percent decline in the carbon intensity of global GDP. Global energy-related CO2 emissions will likely peak by 2040 at about 10 percent above the 2016 level.
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OGJ - Total SA made a natural gas discovery on the Glendronach prospect offshore UK West of Shetland that it believes can be commercialized quickly and at low cost by leveraging the existing Laggan-Tormore infrastructure.
NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its wholly owned subsidiary, NOVATEK Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.
REUTERS - Benchmark Brent crude LCOc1 hit its highest since November 2014 at $80.94 per barrel, up $2.14 or 2.7 percent, before easing to around $80.75 by 1150 GMT. U.S. light crude CLc1 was $1.25 higher at $72.03.
OPEC - The JMMC noted that, despite growing uncertainties surrounding market fundamentals, including the economy, demand and supply, the participating producing countries of the DoC continue to seek a balanced and sustainably stable global oil market, serving the interests of consumers, producers, the industry and the global economy at large. The Committee also expressed its satisfaction regarding the current oil market outlook, with an overall healthy balance between supply and demand.