U.S. Department of Energy - Energy Efficiency and Renewable Energy
Water Power Program
BP Releases "Statistical Review of World Energy 2004"
June 16, 2004
BP continued its 53-year tradition of compiling world energy
statistics with the publication of its "Statistical Review of World
Energy 2004" on June 15th. This year's report shows that at current rates
of production, the world's proved reserves of oil are sufficient to
last for 40 years, although nearly 77 percent of those reserves are
located in OPEC countries. The proved reserves of natural gas are
sufficient to last for 67 years at current rates of production, with
the largest reserves in the countries of the former Soviet Union.
Proved reserves of coal are sufficient to last 192 years at current
production rates, with most reserves in North America, the Asia
Pacific region, and Europe and Eurasia.
World energy use increased 2.9 percent in 2003, with the strongest
growth (6.3 percent) in the Asia Pacific region. Among fossil fuels,
coal grew fastest in 2003, with an increase of 6.9 percent, largely
due to a reported increase of more than 15 percent in China. Chinese
oil demand has also doubled over the past ten years, leading BP's
Chief Executive, the Lord Browne of Madingley, to conclude in his
foreword that China "will be a major influence on the world energy
scene from now on."
In contrast to the fossil fuel statistics, BP's statistics on
renewable energy sources are relatively limited. The report does note
that world geothermal capacity was just shy of 6,000 megawatts in 2000
and that wind power capacity has reached 40,000 megawatts worldwide,
"signaling wind's emergence as a mainstream energy source." The report
also notes that solar photovoltaic capacity has increased more than
ten fold over the last decade. World consumption of large
hydroelectric power held nearly steady in 2003, increasing by only
0.4 percent. See the BP press release and BP's "Statistical Review of World Energy 2004."