At this rate of decline, it will take 200 years for the global share of fossil energy to reach net zero.

Release time:

2023-09-03

As of 2023, BP has transferred the publication of the Annual Statistical Review of World Energy to the Energy Institute (EI). EI's new Global Annual Statistical Review of Energy report provides comprehensive data on global oil, gas and coal production and consumption, as well as carbon dioxide emissions and renewable energy.

As of 2023, BP has transferred the publication of the Annual Statistical Review of World Energy to the Energy Institute (EI). EI's latest Global Annual Statistical Review of Energy report provides comprehensive data on global oil, gas and coal production and consumption, as well as carbon dioxide emissions and renewable energy.
The report shows that although renewable energy sources such as solar and wind continue to grow rapidly, the world still relies heavily on fossil fuels to meet energy needs. Fossil fuels will maintain an 82% share of total primary energy consumption in 2022. Natural gas and coal demand was almost flat, and oil rebounded close to pre-epidemic levels. As a comparison, the proportion of fossil energy in 2022 is 82%, down from 87% in 2010. But at this rate of decline, fossil fuel consumption would take almost 200 years to reach zero.

Global energy demand grew by 1.1 per cent in 2022, a new record, but below the 5.5 per cent growth rate in 2021. This is due to many factors, including the war between Russia and Ukraine, which disrupted the energy market, and the slowdown of China's economy.

Renewable energy continues to grow strongly in 2022, with solar and wind accounting for 7.5 percent of primary energy consumption, up 1 percentage point from the previous year. Renewable energy (excluding hydropower) grew by 14% in 2022, slightly lower than the 16% growth rate of the previous year.

Global coal demand grew by 0.6 per cent in 2022, reaching its highest level of coal consumption since 2014 and growing at three times the 10-year average of 0.2 per cent. Coal demand growth was mainly driven by China (1%) and India (4%). Global coal production increased by more than 7% compared to 2021, a record high. China, India and Indonesia account for more than 95% of global production growth.

Oil demand grew by 3.1 per cent in 2022, also well above the 10-year average growth rate of 0.9 per cent, mainly due to the continued economic recovery after the neo-crowning epidemic. Consumption remains 0.7 percent below 2019 levels. Global oil production increased by 3.8 million barrels per day in 2022, with "OPEC +" accounting for more than 60% of the increase. Among all countries, Saudi Arabia (1,182,000 bpd) and the United States (1,091,000 bpd) increased the most.

Global gas demand fell by 3% in 2022, slightly below the 4 trillion m3 mark first reached in 2021. In 2022, the share of natural gas in primary energy decreased slightly, to 24% (from 25% in 2021). The decline is attributed to record gas price levels in Europe and Asia in 2022, where it has risen nearly threefold, and the doubling of LNG spot market volumes in Asia. The price of Henry Hub in the United States increased by more than 50% in 2022, reaching an average of $6.5/MMBtu, which is the highest annual level since 2008.

In 2022, global electricity generation increased by 2.3 percent, down from the 6.2 percent growth rate of the previous year. Wind and solar power generation reached a record 12 per cent, solar accounted for 25 per cent and wind power production increased by 13.5 per cent. The combined power generation of wind and solar energy once again exceeds that of nuclear energy. Coal will remain the dominant fuel for global power generation in 2022, with a steady share of around 35.4 percent, down slightly from 35.8 percent in 2021. Natural gas generation remained stable in 2022, with a share of about 23%. Nuclear energy production fell by 4.4 per cent. Renewable energy (excluding hydropower) will meet 84% of the net increase in electricity demand in 2022.

At the same time, global energy-related carbon dioxide emissions rose by 0.9 per cent to a new high of 34.4 billion tonnes, indicating a lack of progress in curbing global carbon emissions. Emissions have moved further away from the reductions required by the Paris Agreement. "Despite further strong growth in wind and solar power in the power sector, overall global energy-related greenhouse gas emissions are increasing again. The world is still moving in the opposite direction to the requirements of the Paris Agreement," said Juliet Davenport, president of EI."

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