FOSSIL FUEL USE HITS RECORD IN POWER-HUNGRY WORLD
Oil and Gas News|July 2024
In a landmark report, the Energy Institute (EI) has painted a vivid picture of an energy-hungry world grappling with record consumption levels, burgeoning renewable energy generation, and the persistent challenge of fossil fuel dependency.
ABDULAZIZ KHATTAK
FOSSIL FUEL USE HITS RECORD IN POWER-HUNGRY WORLD

Data from the 73rd annual edition of the Statistical Review of World Energy highlights several key trends. Global primary energy consumption surged to an unprecedented 620 Exajoules (EJ), marking a 2 per cent increase from the previous year. The report was coauthored with KPMG and Kearney.

Fossil fuel consumption also hit a record high, rising by 1.5 per cent to 505 EJ, propelled by coal, which increased by 1.6 per cent, and oil, which saw a 2 per cent rise, surpassing 100 million barrels daily for the first time.

Despite a slight reduction in their share of the energy mix to 81.5 per cent, emissions from energy activities soared by 2 per cent, crossing the 40 gigatonnes of CO2 threshold for the first time.

Bu hikaye Oil and Gas News dergisinin July 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Oil and Gas News dergisinin July 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

OIL AND GAS NEWS DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
SFME to host expert workshops on energy resilience
Oil and Gas News

SFME to host expert workshops on energy resilience

THE Sustainability Forum Middle East (SFME), set to launch its third edition on January 28-29, in Bahrain, will feature expertled workshops to support businesses in launching or accelerating their net-zero journeys.

time-read
1 min  |
January 2025
Coal will be a central pillar of COP31, wherever it's held
Oil and Gas News

Coal will be a central pillar of COP31, wherever it's held

In the shadows of COP29, two of the world’s most coal-dependent countries are still bidding to host the UN climate summit in 2026, offering what could be a unique moment to renew focus on coal, write climate analysts Christopher Wright and Ufuk Alparslan

time-read
5 dak  |
January 2025
Anchored in excellence: Miros' milestones making waves
Oil and Gas News

Anchored in excellence: Miros' milestones making waves

While 2024 has been a remarkable year with milestones and moments of pride, the company is looking ahead to driving innovation and success, Marius Five Aarset tells OGN

time-read
4 dak  |
January 2025
SBTi updating plans for O&G, other sectors to cut emissions
Oil and Gas News

SBTi updating plans for O&G, other sectors to cut emissions

TO tackle emissions in high-impact industries and align with its Corporate Net-Zero Standard, the Science Based Targets initiative (SBTi) is updating its terms of reference for three sector projects: oil and gas, chemicals and power.

time-read
5 dak  |
January 2025
AIQ will integrate Reservoir 360 with SLB software
Oil and Gas News

AIQ will integrate Reservoir 360 with SLB software

AIQ, Abu Dhabi-based AI company, has partnered with global energy technology company SLB to integrate its Advanced Reservoir 360 (AR360) solution with SLB's Petrel software as a plug-in.

time-read
1 min  |
January 2025
Wärtsilä to power methanol-ready vessel
Oil and Gas News

Wärtsilä to power methanol-ready vessel

WÄRTSILÄ, a technology group, has been ordered to supply a complete propulsion package for a 38,000 DWT methanol-ready cement carrier vessel, one of the largest vessel of its type and the first with a methanol-ready notation.

time-read
1 min  |
January 2025
Afreximbank signs major hydropower project in DRC
Oil and Gas News

Afreximbank signs major hydropower project in DRC

AFRICAN Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for its private-sector renewable energy project in the Democratic Republic of Congo (DRC).

time-read
1 min  |
January 2025
$29m solar project to boost Chad's energy access
Oil and Gas News

$29m solar project to boost Chad's energy access

THE African Development Bank Group has approved €28 million ($29 million) for the construction of solar power plants in Gassi and Lamadji, Chad, as part of its Desert to Power program.

time-read
1 min  |
January 2025
AfDB invests $30m in AFC to boost climate action
Oil and Gas News

AfDB invests $30m in AFC to boost climate action

THE African Development Bank (AfDB) has approved a $30 million equity investment in Africa Finance Corporation (AFC) to launch innovative \"green shares\" to fund climate action projects across Africa.

time-read
1 min  |
January 2025
Promoting gender equality in S Africa's energy transition
Oil and Gas News

Promoting gender equality in S Africa's energy transition

A series of events held between November 12-15 in South Africa marked several strides forward in advancing gender equality in the Just Energy Transition.

time-read
1 min  |
January 2025