Disclaimer The data series for proved oil and gas reserves in BP Statistical Review of World Energy June 2014 does not necessarily meet the defnitions, guidelines and practices used for determining proved reserves at company level, for instance, under UK accounting rules contained in the Statement of Recommended Practice, ‘Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities’ (UK SORP) or as published by the US Securities and Exchange Commission, nor does it necessarily represent BP’s view of proved reserves by country. Rather, the data series has been compiled using a combination of primary offcial sources and third-party data. Find more online For 63 years, the BP Statistical Review of World Energy has provided high-quality objective and globally consistent data on world energy markets. The review is one of the most widely respected and authoritative publications in the feld of energy economics, used for reference by the media, academia, world governments and energy companies. A new edition is published every June. Other features include: Energy economics blog Regular blogs on energy economics. bp/energyeconomics Energy Outlook Watch the BP Energy Outlook 2035 – January 2014 video, containing our projections of long-term energy trends. bp/energyoutlook Charting tool You can view predetermined reports or chart specifc data according to energy type, region and year. bp/statisticalreview Join the conversation #BPstats Key information The website contains all the tables and charts found in the latest printed edition, plus a number of extras, including: Historical data from 1965 for many sections. Additional data for natural gas, coal, hydroelectricity, nuclear energy, electricity and renewables. An oil, natural gas and LNG conversion calculator. PDF versions and PowerPoint slide packs of the charts, maps and graphs, plus an Excel workbook of the data. Regional factsheets. Videos and speeches. The BP Statistical Review of World Energy 2014 is available online at bp/statisticalreview About this reviewWelcome to the 63rd edition of the BP Statistical Review of World Energy . The world of energy in 2013 echoed broader global themes – such as emerging differences in global economic performance, geopolitical uncertainty and ongoing debates about the proper roles of government and markets. These are important issues, and ones over which opinions vary widely, and legitimately. It has been said that everyone is entitled to their own opinion, but not their own facts. And that is where the Statistical Review comes in: since 1952, its mission has always been to provide objective, global data on energy markets to inform discussion, debate and decision-making. This frst snap-shot of the global energy picture in 2013 – together with the historical data that puts today’s information into context – can help us to understand how the world around us is changing. The year 2013 saw an acceleration in the growth of global energy consumption, despite a stagnant global economy. Economic growth remained weak nearly everywhere and relative to recent history it was weaker in the emerging non-OECD economies. In line with that economic pattern, energy consumption growth was below average in the non-OECD, driven by China, and above average in the mature economies of the OECD, driven by the US. Emerging economies nonetheless continue to dominate global energy demand, accounting for 80% of growth last year and nearly 100% of growth over the past decade. While consumption growth accelerated globally, it has remained below average – this is again, consistent with the weak global economic picture. Regionally, energy consumption growth was below average everywhere except North America. EU consumption continued to decline, hitting the lowest level since 1995 (despite economic growth of 35% over this period). Energy production continued to be impacted by geopolitical events. Oil production in Libya suffered the world’s largest decline in the face of renewed civil unrest and the production of oil and gas was disrupted in a number of other countries as well. In the face of these disruptions and heightened risks to supply, average oil prices exceeded $100 per barrel for a third consecutive year, despite massive supply growth in the US. Supply developments also highlighted the importance of our third topic, namely to get the balance right between policy and market forces. Driven by massive investment in shale and other ‘tight’ formations, the US saw the world’s largest increase in oil production last year, offsetting the numerous disruptions seen elsewhere and keeping prices stable. Indeed, the US increase in 2013 was one of the biggest oil production increases the world has ever seen. Elsewhere, and after global coal prices have fallen for two years in a row, coal is extending its competitive edge in power generation and the competitive balance has begun to shift. Coal was the fastest-growing fossil fuel, with China and India combined accounting for 88% of global growth, while natural gas consumption growth decelerated and grew at a below-average rate. As was the case for total energy, gas consumption growth was below average in all regions except North America, which continues to enjoy the cheapest prices among international markets. The importance of policy is also apparent in the strength of renewable forms of energy, which continued to grow robustly, albeit from a low base. Renewables now account for more than 5% of global power output and nearly 3% of primary energy consumption. The challenge of sustaining expensive subsidy regimes, however, has become visible where penetration rates are highest, namely the below-average growth of Europe’s leading renewable producers, who are grappling with weak economic growth and strained budgets. Once again, the data in this review shows a fexible global energy system adapting to a changing world. It demonstrates how the world’s quest for secure and fairly-priced energy can be met through competitive industries driving innovation and smart government policies that amplify the creative ‘energy’. At BP we remain focused on how to lead this process, delivering the growing energy requirements of our customers, safely and sustainably. We do this by investing in our people and world-leading technology, while exercising the capital discipline sought by our investors. I hope you will fnd this year’s Statistical Review a useful resource for a global perspective on energy. In concluding, let me thank BP’s economics team and all those around the world who have helped prepare this review – in particular those in governments in many countries who contribute their offcial data. Bob Dudley Group Chief Executive June 2014 Group chief executive’s introduction Energy in 2013 – energy markets refect broader themes.2013 in review Consumption and production increased for all fuels, reaching record levels for every fuel type except nuclear power. For each of the fossil fuels, global consumption rose more rapidly than production. The data suggests that growth in global CO2 emissions from energy use also accelerated in 2013, although it remained below average. Emerging economies dominated global growth again, but the increase was below the ten-year average in these countries, and above average in the OECD. China once again had the largest growth increment, followed by the