BP: Demand for energy ‘slowing’
The growth in global demand for energy slowed to levels not seen since the late 1990s, a new report suggests, writes the BBC.
BP’s Statistical Review of World Energy said global energy consumption “slowed sharply” to an increase of just 0.9% in 2014.
BP said slow growth for energy demand was largely due to China’s economy moving away from “energy-intensive sectors”.
The BP review also argued the mixture of fuels which the world was using was changing.
BP’s chief executive Bob Dudley said 2014 was characterised by “volatility and uncertainty” and “may well come to be viewed as symptomatic of a broader shifting in some of the tectonic plates that make up the energy landscape”.