"children": [ { }, "showIcon": false { In the past, any mention of peak oil would have been interpreted as a reference to peak oil ‘supply’: the belief that there was a limited supply of oil and that as oil became increasing scarce, its price would tend to rise. "path": "/en/global/corporate/investors/investor-presentations/presentation-archive.html", "dataType": "link", "index": "4", "title": "Flexible working", "title": "Investment", ] ] "dataType": "link", { "path": "/en/global/corporate/careers/life-at-bp/rewards-and-benefits.html", "children": [ "showIcon": true, "path": "/en/global/corporate/sustainability/caring-for-our-planet.html", ] "dataType": "section", } "dataType": "link", "class": "nr-navigation__link ", }, "dataType": "link", { "index": "3", "class": "nr-navigation__link nr-navigation__link--section ", "dataType": "link", "title": "Bernard Looney", "path": "/en/global/corporate/careers/professionals/career-areas/shipping.html", { "path": "/en/global/corporate/energy-economics/energy-outlook/introduction.html", "class": "nr-navigation__link ", { "title": "AGM webcast", { "path": "/en/global/corporate/who-we-are/our-history/heritage-brands.html", "class": "nr-navigation__link ", "showIcon": false "class": "nr-navigation__link ", }, } The world is likely to demand large quantities of oil for many decades to come. "dataType": "section", We use cookies to collect and analyse information on our site's performance and to enable the site to function. These developments are important. "index": "1", "path": "/en/global/corporate/investors/investor-presentations/bp-week-2020/bp-week-2020-day-two.html", Rather it is simply to highlight two points: Chart 1 shows a range of forecast for oil demand over the next 25-30 years from a variety of public and private sector organisations. { "index": "0", "index": "0", A corollary of this increasing competitiveness is that the distribution of economic rents within global oil markets is likely to shift. "class": "nr-navigation__link ", BP is less bullish, which is why it is trying to pivot away from oil after a century of exploration. "path": "/en/global/corporate/investors/upstream-major-projects/major-projects-2019.html", "class": "nr-navigation__link ", Januar 2013 Rainer Sommer. "path": "/en/global/corporate/investors/upstream-major-projects/major-projects-2017.html", "showIcon": true, ] "children": [ }, "class": "nr-navigation__link ", "path": "/en/global/corporate/investors/upstream-major-projects/major-projects-2018/thunder-horse-northwest-expansion.html", "title": "bp week 2020 - day three", "dataType": "link", "class": "nr-navigation__link ", "showIcon": false { "index": "0", It seems likely that many low-cost producers will delay the pace at which they adopt a more competitive “higher volume, lower price” strategy until they have made material progress in reforming their economies. But this focus on extraction costs ignores the fact that many of the world’s major oil producers depend on oil revenues to finance other aspects of their economies, such as health, education, public sector employment etc. "class": "nr-navigation__link ", "dataType": "section", "title": "Corporate and functions", "dataType": "link", "children": [ "showIcon": false "path": "/en/global/corporate/products-and-services.html", "children": [ "showIcon": false { { }, "showIcon": false "path": "/en/global/corporate/energy-economics/statistical-review-of-world-energy/renewable-energy.html", "index": "1", "path": "/en/global/corporate/energy-economics.html", "title": "Engineering", ] "class": "nr-navigation__link ", "title": "Wells", for oil and gas will be increasingly challenged. "path": "/en/global/corporate/who-we-are/board-and-executive-management/leadership-team.html", } "title": "China", "title": "Graduate programs", "title": "Contacts and useful documents", }, },{ "showIcon": false "class": "nr-navigation__link ", "showIcon": false "path": "/en/global/corporate/careers/students-and-graduates/locations/united-kingdom/apprenticeships.html", "class": "nr-navigation__link nr-navigation__link--section ", } { "class": "nr-navigation__link nr-navigation__link--section ", { }, "index": "1", ], The point at which oil demand will peak has long been a focus of debate. "path": "/en/global/corporate/careers/students-and-graduates/career-areas-for-students/school-leavers.html", }, And that, alongside many others, bp can contribute to the energy transition that the world wants and needs, and create value doing so. "path": "/en/global/corporate/investors/results-and-reporting/quarterly-results-and-webcast/quarterly-results-archive.html", "dataType": "link", "children": [ "title": "Non-combusted", "index": "3", "index": "24", { *Market data delayed by 20 minutes. "index": "1", }, { { "children": [ { }, "class": "nr-navigation__link ", "class": "nr-navigation__link ", "path": "/en/global/corporate/investors/information-for-shareholders/dividends/dividend-history.html", "class": "nr-navigation__link ", "path": "/en/global/corporate/careers/students-and-graduates/locations/oman/graduate-programmes.html", },{ "index": "20", "dataType": "link", "level": "1", "path": "/en/global/corporate/investors/information-for-shareholders/dividends/dividend-payment-options.html", { "class": "nr-navigation__link ", "index": "3", "showIcon": false "title": "Managing your shares", "title": "Graduate programs", }, "level": "1", And future oil discoveries and improvements in technology are likely to only increase that abundance. "title": "Constellation, US - Gulf of Mexico", "class": "nr-navigation__link ", "index": "2", { "title": "Sustainability report: 2020 highlights", Much of the popular debate is centred around when oil demand is likely to peak. }, },{ { Demand for oil may have peaked last year, according to BP, which says the global market for crude might never recover from the coronavirus pandemic. "index": "17", "index": "7", "title": "Improving people’s lives", "class": "nr-navigation__link nr-navigation__link--section ", "dataType": "link", "class": "nr-navigation__link ", "path": "/en/global/corporate/careers/professionals/locations/hungary.html", "showIcon": false "path": "/en/global/corporate/careers/professionals/locations/south-africa/working-in-south-africa.html", "index": "2", } "dataType": "section", "index": "1", "class": "nr-navigation__link nr-navigation__link--section ", { "title": "Coal", { "class": "nr-navigation__link ", ] "dataType": "link", "dataType": "link", BP, in its 2020 Global Energy Outlook, did not really predict that the world has already reached “peak oil” demand. "class": "nr-navigation__link ", { }, "dataType": "link", { Rather, the significance of peak oil is that it signals a shift in paradigm – from an age of (perceived) scarcity to an age of abundance – and with it is likely to herald a shift to a more competitive market environment. "class": "nr-navigation__link nr-navigation__link--section ", { "title": "Agility at bp", ] "showIcon": false "path": "/en/global/corporate/investors/regulatory-news-service-and-filings/20f-and-sec-filings.html", "title": "EU", "title": "Egypt", "showIcon": false "index": "1", "dataType": "link", "showIcon": false "dataType": "link", }, { { Or even that the peak in oil demand will be unique. Oil companies spent huge sums of money exploring and securing oil resources that were expected to become increasingly harder and more expensive to find. "class": "nr-navigation__link ", { "path": "/en/global/corporate/energy-economics/energy-outlook/comparisons.html", "path": "/en/global/corporate/who-we-are/board-and-executive-management/leadership-team/kerry-dryburgh.html", "title": "Search and apply", "index": "8", Global oil demand has doubled over the past 50 years, reaching around 100m barrels per day in 2019, equivalent to an annual energy consumption of 192 exajoules (EJ). "dataType": "section", "index": "2", "path": "/en/global/corporate/who-we-are/board-and-executive-management/the-board/sir-john-sawers.html", "children": [ "class": "nr-navigation__link nr-navigation__link--section ", "showIcon": true, { "index": "3", "title": "Our history", "index": "25", "title": "Juniper, Trinidad and Tobago", "showIcon": true, "path": "/en/global/corporate/investors/investor-relations-contacts.html", "path": "/en/global/corporate/careers/professionals/career-areas/communications-and-external-affairs.html", }, "title": "Global insights", Analysis: China’s CO2 emissions surged 4% in second half of 2020, IEA: India is on ‘cusp of a solar-powered revolution’, Floating solar panels on 1% of reservoirs ‘could double’ Africa’s hydropower capacity, Guest post: How energy-efficient LED bulbs lit up India in just five years, Budget 2020: Key climate and energy announcements, Guest post: How energy demand for cooling in India's cities is changing. "showIcon": false "path": "/en/global/corporate/careers/professionals/locations/belgium.html", "title": "Oil", "title": "Intern programmes", "index": "2", "title": "Regions", The move to oil abundance is indeed likely to herald a more competitive market environment. ] "path": "/en/global/corporate/investors/upstream-major-projects/major-projects-2017/west-nile-delta-egypt.html", "path": "/en/global/corporate/energy-economics/energy-outlook/demand-by-fuel/coal.html", "dataType": "section", "index": "13", "path": "/en/global/corporate/investors/results-and-reporting/financial-disclosure-framework/customers-and-products-financial-disclosures.html", { ] "dataType": "section", { "showIcon": false ] "index": "3", "showIcon": false "title": "Comment and analysis", { "dataType": "link", }, "class": "nr-navigation__link ", "title": "Aral", "dataType": "link", "title": "Water positive", This is, in part, true. "showIcon": true, "showIcon": true, "class": "nr-navigation__link ", "class": "nr-navigation__link ", }, Factcheck: How electric vehicles help to tackle climate change. "level": "1", "index": "0", "title": "Safety", "index": "3", "title": "Quad 204, North Sea", { "class": "nr-navigation__link ", "dataType": "section", },{ { "title": "Human resources", Moreover, since oil prices fell in 2014, US oil demand has begun to grow again and, if prices remain low for the next few years, could potentially exceed its previous peak. "level": "1", ] "children": [ "showIcon": false One of the biggest oil companies in the world, BP… "showIcon": false BP’s report suggests that demand for oil reached its peak in 2019. "index": "8", ] } "path": "/en/global/corporate/sustainability/reporting-centre-and-archive/archive.html", "showIcon": true, "showIcon": false "path": "/en/global/corporate/energy-economics/statistical-review-of-world-energy/co2-emissions.html", { "showIcon": false "dataType": "link", "children": [ "title": "Germany", }, { "dataType": "section", "path": "/en/global/corporate/who-we-are/sponsorship/uk-arts-and-culture.html", "title": "Tax", https://energypost.eu/bp-outlook-2020-peak-oil-has-already-happened "title": "Emma Delaney", "class": "nr-navigation__link nr-navigation__link--section ", "showIcon": false "dataType": "link", "dataType": "link", "path": "/en/global/corporate/sustainability/data-and-how-we-report/hse-charting-tool.html", "title": "Graduate programmes", "dataType": "link", "showIcon": false "dataType": "link", "class": "nr-navigation__link nr-navigation__link--section ", "path": "/en/global/corporate/what-we-do/our-strategy.html", "dataType": "link", "class": "nr-navigation__link ", The difficulty of finding alternative sources of earning means the shift in oil paradigm may represent a reduction in wealth for many major oil producing economies, requiring an eventual adjustment in living standards. "title": "Industry", "dataType": "link", "index": "11", The laws of competitive markets, in which high-cost producers are driven out of the market, haven’t applied. "path": "/en/global/corporate/news-and-insights/reimagining-energy/bp-culture-and-community.html", "showIcon": false "showIcon": false }, { "showIcon": true, "index": "1", { "class": "nr-navigation__link ", "index": "12", }, "class": "nr-navigation__link ", Moreover, rationing supplies in this way provided a clear and transparent way of managing a country’s oil such that it was distributed fairly across future generations. "dataType": "link", "path": "/en/global/corporate/who-we-are/board-and-executive-management/the-board.html", "path": "/en/global/corporate/careers/search-and-apply/application-process.html", "path": "/en/global/corporate/careers/students-and-graduates/career-areas-for-students.html", "title": "Intern programmes", { "path": "/en/global/corporate/who-we-are/our-purpose.html", These estimates of the physical cost of production might suggest that, as global markets become increasingly competitive, and low-cost producers gain market share, the (real) oil price will drift inextricably lower. }, The prospect of a 2019 peak went largely overlooked when BP released its highly regarded Energy Outlook in September. "title": "Results and reporting", In addition, fiscal break-even prices consider the level of prices required to achieve a measure of only internal balance within oil producing economies. "index": "2", "path": "/en/global/corporate/who-we-are/board-and-executive-management/the-board/bernard-looney.html", "class": "nr-navigation__link ", ] "path": "/en/global/corporate/sustainability/getting-to-net-zero/ghg-emissions.html", { "title": "Gas & low carbon energy", "class": "nr-navigation__link ", } "index": "2", A cottage industry of oil executives and industry experts has developed trading guesses of when oil demand will peak: 2025, 2035, 2040?1 This focus on dating the peak in oil demand seems misguided for at least two reasons. Please contact us for commercial use. "showIcon": false "class": "nr-navigation__link ", "index": "0", "dataType": "link", "dataType": "link", "title": "Financial disclosure framework archive", "showIcon": true, "index": "3", Jet stream: Is climate change causing more ‘blocking’ weather events? "class": "nr-navigation__link ", } "dataType": "link", "dataType": "link", "path": "/en/global/corporate/sustainability/improving-peoples-lives/wellbeing.html", "level": "1", "index": "4", "dataType": "link", "class": "nr-navigation__link ", "index": "5", "index": "2", "title": "Candidate charter", }, "index": "3", } "path": "/en/global/corporate/what-we-do/customers-and-products/lubricants-procurement.html", "path": "/en/global/corporate/investors/information-for-shareholders/financial-calendar.html", "index": "0", BP's Forecasts Peak Oil Demand The oil giant's latest energy outlook predicts an end to rising oil consumption. The shift to a more competitive market environment won’t just happen on its own accord, it requires a critical mass of low-cost producers to both recognise the need to adopt a more competitive strategy and, more importantly, to have reformed their economies sufficiently for them to be able to adopt such a strategy sustainably.
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Expo Château De Versailles, Manchester By The Sea Ville, Plage De L'arène Cassis, Donald Judd Untitled, Soutenance De Thèse En Anglais, Apprendre La Culture Coréenne, Mireille Mathieu - Une Femme Amoureuse, Retenues D'impôt Fédéral 2021, Figurine Disney Résine, Recette Mantou Afghan,