Oil and gas set to remain a vital part of the future energy mix f gas regulations 2015

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At this week IP Week in London Bob Dudley, BP group chief executive addressed that very issue. In terms of what the future holds for the industry, Dudley referred heavily to the scenarios from the latest edition of the BP Energy Outlook that was published earlier this month. “We make a point of saying the Energy Outlook is not a forecast gas station,” he said. “The future for energy demand and supply has many possible scenarios and depends on a range of factors to do with society, geopolitics, technology, and policy.”

That uncertainty makes any precise prediction impossible, but it is helpful to make projections – one of which BP call the evolving transition (ET) scenario. It assumes that government policies, technology, and social preferences continue la gastritis to evolve as in the recent past. If that happens, global energy demand is likely to grow by around a third by 2040. Although that is significant growth, it is slower than the past two decades, primarily driven by improving living standards in Asia, particularly China and India.

We already see these changes in demand, and there are equally significant changes in the way that the energy is being supplied. Renewable energy is projected to grow faster than any fuel in history. Natural gas engine efficiency gas is set to grow strongly and overtake coal in the fuel mix. Nonetheless, that ET scenario also sees carbon emissions rising by around 7% by 2040 – when we know that meeting the goals of the 2015 Paris Agreement requires emissions to fall rapidly.

While talking about the vagaries of forecasts, Dudley highlighted one that he was confident of making, that we are moving into a future that the industry is already preparing for. Part of this is future is the Oil and Gas Climate Initiative (OGCI). Thirteen companies who have joined the Oil and Gas Climate Initiative or OGCI, with two, Amin and Saudi Aramco, has been with OGCI since gasco abu dhabi address the beginning.

“We are doing a lot in the industry, and we urge governments to play their part too, as we see electricity outage san antonio from the UK government. We need measures like carbon pricing that will make the forms of energy that are environmentally attractive, economically attractive as well. We also need to respond in the right way to what society and our shareholders are asking for.

“You may have heard that BP recently announced its support for a resolution proposed by the Climate Action 100+ investor group. It will see us adding to our existing reporting with more on how we expect to remain a highly attractive investment through the energy transition – including in a world that is consistent with the Paris goals. We see the resolution gas to liquid as a good step – one that’s supportive of our progressive approach.”

One of the priorities for BP making itself fit for the future is digital. “Ten years ago, digital technology was what we used in the office,” Dudley explained. “Now it’s what we have in the field, on every rig and platform and in every refinery – and the technologies like grade 9 electricity quiz quantum computing, AI and blockchain are going to deliver remarkable advances – not just in energy but across the whole of society.

“The reality for us is that digital is going to be disruptive in a way we’ve not seen before. So if you’re smart, you’re planning for that already. But as someone once said, when you invent the ship, you also invent the shipwreck. Any new technology creates risks as well as opportunities – and the dark side of digital is of course cybercrime.