McKinsey: uptake of electric vehicles is the main driver for stagnating growth in oil demand. McKinsey: global liquids demand to peak around 102 million barrels per day within 2-5 years. Continue Reading
Energy industry leaders believe the energy transition is accelerating faster than ever with 2022 set to be a strong year for industry growth. Energy professionals revealed that energy industry leaders Continue Reading
French supermajor presents two scenarios for global energy and oil demand to 2050. According to TotalEnergies’ Momentum scenario, natural gas will be key to the energy transition, while oil consumption Continue Reading
French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, as more nations crack down on fossil fuels and promote cleaner power in Continue Reading
Add one of the most respected figures in the oil and gas industry to those predicting that demand for petroleum products is nearing its peak. IHS Markit, of which Pulitzer Continue Reading
The world hit a transport milestone in 2017, though most people wouldn’t have noticed it at the time. That year, consumers bought more than 85 million automobiles, a sales volume that Continue Reading
The world is past peak coal consumption and may reach peak oil consumption within the next ten years, Alexei Kudrin, the head of the Russian Accounts Chamber, told media this Continue Reading
Storing for the future or for the now? As economies recover from the pandemic, demand should surge, which will dent all the stored up oil sloshing around. Also in this Continue Reading
The year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks, and a shift towards renewable energy, experts warned that nearly Continue Reading
The world stands on the cusp of an oil supply crisis. Years of insufficient investment in offshore mega-projects combined with the end of U.S. shale hyper-growth and a recent shift Continue Reading
Which peak are we talking about? Some recent headlines and quotes from the press: “Peak Oil is Suddenly Upon Us” (Bloomberg 12/1/20); “Even Exxon Mobil is Capitulating to Peak Oil Continue Reading
Has peak oil demand already come and gone? That’s an exceptionally hard question to answer. There are some experts that say unequivocally, yes. They claim that peak oil is already Continue Reading
Global oil demand may have hit the peak in 2019 and natural gas will follow suit around 2025, the director general of International Renewable Energy Agency said March 16, as Continue Reading
Three months ago, British oil giant BP Plc. (NYSE:BP) sent shockwaves through the oil and gas sector after it declared that Peak Oil demand was already behind us. In the Continue Reading
China’s largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported on Friday, citing Sinopec’s Continue Reading
The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak. The rise Continue Reading
A year ago, if anyone in the petroleum business had suggested that the moment of Peak Oil had already passed, they would have been laughed right off the drilling rig. Then Continue Reading
If I had of said to most of you reading this a year ago that 2020 would see negative oil prices , the world economy collapse and record highs in Continue Reading
A year ago, if anyone in the petroleum business had suggested that the moment of Peak Oil had already passed, they would have been laughed right off the drilling rig. Continue Reading
Do you remember peak oil? It was all the rage a decade ago. Now, almost no one is talking about it. The funny thing is, the problem never went away. Continue Reading
This month marks a historic but largely forgotten moment in the history of the oil sector, and something that is unlikely to ever be repeated if forecasts for the demise Continue Reading
Global oil demand is forecast to peak by around 2040 because transport-fuel demand will decline steeply and economic growth will slow in the post-coronavirus world, the Institute of Energy Economics, Continue Reading
In today’s IEA’s annual World Energy Outlook 2020 report, the OECD energy watchdog states that it doesn’t see a peak oil demand before 2040, only a possible oil demand flattening. Continue Reading
Last month, the world’s 4 th largest oil company—BP— predicted that the world will never again consume as much petroleum as it did last year. So, have we finally hit Continue Reading
French energy giant Total SE (formerly Total S.A.) spread more doom and gloom into the oil markets today, foretelling of the oil industry’s ultimate horror—peak oil demand. In its Energy Continue Reading
The world has already passed “peak oil” demand, according to Carbon Brief analysis of the latest energy outlook from oil major BP. The 2020 edition of the annual outlook reveals Continue Reading
The world has already passed “peak oil” demand, according to Carbon Brief analysis of the latest energy outlook from oil major BP. The 2020 edition of the annual outlook reveals Continue Reading
During a panel discussion in which I participated recently with three energy experts, the moderator asked us if we agreed with the recent projection by British oil giant BP that Continue Reading
1. BP sees oil demand already at a peak – BP (NYSE: BP) made major headlines this week when it released its latest energy outlook, which laid out three scenarios, Continue Reading
One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios Continue Reading
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
Speaking at the ONS Digital Conference in a video presentation, Patrick Pouyanne, the CEO of Total SA, said he now expects oil production to peak between 2030 and 2040, although Continue Reading
THIS PAST SPRING, coastlines around the globe took on the feel of an enemy invasion as hundreds of massive oil tankers overwhelmed seaports from South Africa to Singapore. Locals and Continue Reading
After one of the most dramatic stretches in its history, the oil industry is slowly recovering. March and April saw the toxic combination of depressed demand, excessive supply, limited storage Continue Reading
US crude production has already peaked, according to one of the country’s leading shale executives, as producers battered by the price crash shun new output growth and start trying to Continue Reading
Global oil demand will likely to recover to above pre-pandemic levels in the future despite some predictions that the crisis may have already triggered a structural decline in world oil Continue Reading
One big question emerging from the pandemic is whether it will speed up the global shift away from oil. Life under lockdown gave a taste of a world that burns Continue Reading
Both crude oil and overall fossil fuel demand may have permanently peaked in 2019 if a slower economic recovery from the coronavirus pandemic becomes reality, hastening the arrival of peak Continue Reading
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn Continue Reading
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas Continue Reading
We who have been suggesting that a peak in world oil production was nigh almost from the beginning of this century looked like we might be right when oil prices Continue Reading
By one oil consultancy’s estimate, Peak Oil will be here by 2028, or two years sooner than it previously had predicted, according to Reuters . That ceiling would be somewhere Continue Reading
We who have been suggesting that a peak in world oil production was nigh almost from the beginning of this century looked like we might be right when oil prices Continue Reading
Oil prices continue to rise on the prospect of a rebound in fuel demand as economies begin to reopen. But there is a large difference between oil demand rising from Continue Reading
Here I am again reporting on out of date US February oil production from the EIA April report after the world oil environment has been turned on its head. Fortunately Continue Reading
The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who Continue Reading
Italy’s Eni expects its oil production to start declining after 2025 under its new long-term strategy to rely on natural gas, renewables, and new technologies to cut net greenhouse gas Continue Reading
Highlights Sees gas making up about 85% of total production in 2050 Eni targets 80% cut in net GHG emissions by 2050 To convert all Italian refineries to biorefining sites Continue Reading
In spite of record increases in solar and wind energy development, human carbon emissions continue to rise because, over the last decade, fossil fuel use has grown ten-times faster than Continue Reading
Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Continue Reading
