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BP Statistical Review of World Energy Full Report 2010

BP Statistical Review of World Energy Full Report 2010

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Published by: knoxd77 on Aug 15, 2010
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BP Statistical Review of World Energy June 2010
About this Review
The data series for proved oil and gas reserves in
BP Statistical Review of World Energy June 2010 
does not necessarily meet the definitions, guidelines andpractices used for determining proved reserves at company level, for instance,under UK accounting rules contained in the Statement of RecommendedPractice, ‘Accounting for Oil and Gas Exploration, Development, Production andDecommissioning Activities’ (UK SORP) or as published by the US Securities andExchange Commission, nor does it necessarily represent BP’s view of provedreserves by country. Rather, the data series has been compiled using acombination of primary official sources and third-party data.
Find out more online
BP Statistical Review of World Energy June 2010 
is availableonline at
. The website containsall the tables and charts found in the latest printed edition,plus a number of extras, including:Historical data from 1965 for many sections.Additional data for natural gas, coal, hydroelectricity,nuclear energy, electricity and renewables.An energy charting tool, where you can viewpredetermined reports or chart specific dataaccording to energy type, region and year.An oil, natural gas and LNG conversion calculator.PDF versions and PowerPoint slide packs of thecharts, maps and graphs, plus an Excel workbookof the historical data.
For 59 years, the BP Statistical Reviewof World Energy has provided high-quality,objective and globally consistent data onworld energy markets. The Review isone of the most widely respected andauthoritative publications in the field ofenergy economics, used for reference bythe media, academia, world governmentsand energy companies. A new edition ispublished every June.
Guide to navigation
BP Statistical Review of World Energy June 2010 
uses thefollowing icons and colour coding to help you navigate yourway quickly and easily through the document. Icons andcolours represent various energy types so you can see,at a glance, which section you are in.
About BP
BP is one of the world’s largest oil and gas companies,serving millions of customers in more than 90 countriesacross six continents. Our business segments are Explorationand Production, and Refining and Marketing. Through thesebusiness segments, we provide fuel for transportation,retail brands and energy for heat and light.
BP Statistical Review of World Energy June 2010
Group chiefexecutive’s introduction
Energy in 2009 –from recessionto recovery
Tony Hayward
Group Chief ExecutiveJune 2010Welcome to the 2010 edition of the BP Statistical Review ofWorld Energy.Before addressing some of the themes that emerge from thisReview, I would like to devote a few words to the tragic accident inApril involving the Deepwater Horizon drilling rig and the subsequentrelease of oil into the Gulf of Mexico. As of this writing, BP is workingclosely with governments and private sector experts to stop the flowof oil and to minimize the damage to the environment. We are throwingeverything we have at mitigating this disaster. Our thoughts are withthose who have lost loved ones, and those whose livelihoods havebeen disrupted. We are determined to set right what has gone wrongand to learn from the tragedy. Eventually, we will succeed, andeventually, this disaster will lead to a safer and better energy world.It is the world of energy that is described by the StatisticalReview of World Energy. Energy developments in 2009 weredominated by a global recession and, later in the year, a tentativerecovery. For the year as a whole, the global economy contractedfor the first time since the Second World War, and global energyconsumption fell as well. We can’t know how durable this recoverywill be. But the data shows changes in the pattern of global energyconsumption that are likely to indicate long-term change.Let me highlight a few insights from the data assembled in this Review.First, global primary energy consumption fell in 2009, but like thebroader economic downturn, changes varied greatly across regions.In the OECD, energy consumption fell faster than GDP – the sharpestdecline in energy consumption on record. The OECD consumed lessprimary energy last year than 10 years ago, although GDP since thenhas risen by 18%. The developing world outside the Former SovietUnion, in contrast, saw energy consumption growing faster thanGDP. Globally, the energy intensity of economic activity rose lastyear, fostered by slower growth and by many energy-intensive fiscalstimulus programmes – but against the longer-term trend.With consumption falling, energy prices declined in 2009,though again the pattern varied by fuel. Oil prices began the yearbelow $40 per barrel, and increased steadily during the year as OPECproduction cuts were greater than the decline in consumption. Naturalgas in competitive markets fell sharply and remained weak throughmost of the year due to falling consumption, continued developmentof unconventional resources in the US and rising LNG supply. And coalprices fell and then started to recover, while displaying regional variety.The recession and now, hopefully, the recovery, has taught ushow interlinked the world really is. Let me name just two of the datahighlights of this year’s Review that symbolize the challenges ahead forall of us. China became a large-scale coal importer, which preventedglobal coal consumption from falling; and, given the OPEC cuts, theworld’s largest increase in oil production by far came from the US,mainly from the Gulf of Mexico. This is not an excuse for anything,but a piece of the reality in which we all live.Clarity of focus on objective data has been a hallmark of BP’sStatistical Review – in good times and bad – for 59 years. As theworld recovers from recession and turns its attention toward enduringmatters of economic development, energy security and climatechange, I hope you will find this Review to be a useful source ofobjective information and perspective.I would like to thank BP’s economics team and all thosearound the world who have been involved in preparing this Review –in particular our government contacts in many countries who reportthe official data.

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