Russia Kept Leadership in Global Oil, Gas Exports in 2016 - BP

It's the end of an era for coal

"The fortunes of coal appear to have taken a decisive break from the past", Spencer Dale, group chief economist at BP, said in his analysis of the figures.

Coal's share as a primary energy source dropped to 28.1 per cent, its lowest level since 2004, BP's annual Statistical Review of World Energy revealed. In the US, coal consumption dropped by almost 10 percent, falling to levels not seen since the 1970s.

Weaker industrial growth meant China's consumption of middle distillate fuels, which include diesel, fell a year ago for the first time in at least a decade, BP data show.

Unsurprisingly, this had a massive impact on the global coal markets, which saw global coal consumption fall by 53 million tonnes of oil equivalent (mtoe), or 1.7% - the second annual decline in a row.

Apart from this, in 2016, Russian Federation exported 77 percent of the globes' produced oil, 33 percent of produced natural gas, and 55 percent of produced coal, according to the document.

In 2016, Russian Federation maintained its top tier position in the world in terms of oil and gas exports, providing 13.2 percent of the worlds' oil exports and 18.9 percent of its natural gas exports, as shown Tuesday in the Statistical Review of World Energy June 2017, issued by the United Kingdom energy company BP.

President Donald Trump has made reviving the American coal industry a key tenet of his administration. Global emissions grew at an annual average rate of about 2.5 percent in the 10 years to 2013.

The report also detailed that China overtook the the world's largest single producer of renewable energy in 2016.

While the slowing energy demand growth was a result of sluggish global economic activity, it also stemmed from more efficient of engines and factories, he said.

The annual report found that renewables were the fastest growing energy source in 2016, accounting for nearly a third of the increase, despite having a share of just 4%.

"While welcome, it is not yet clear how much of this break from the past is structural and will persist", BP CEO Bob Dudley said in a statement.

"Oil remained the world's leading fuel, accounting for a third of global energy consumption".

Global consumption dropped 1.7 percent past year compared with an average 1.9 percent yearly increase from 2005 to 2015, according to BP. He said he would pull the USA out of a global pact to limit carbon emissions because it would hurt industries like coal production, and his administration has moved to peel away regulations seen as harmful to the sector. "At the same time markets are responding to shorter-run run factors, most notably the oversupply that has weighed on oil prices for the past three years".

By contrast renewable power - excluding hydro - grew by 14.1 percent previous year, with wind and solar making significant contributions.

Related news:

Hot News

isis-killer-beheading-video-story-top Another US appeals court refuses to revive Trump travel ban
Jun 14, 2017 - 07:40
The ruling comes on the heels of a similar ruling from the United States Court of Appeals for the Fourth Circuit in May. The judges pointed to a June 5 tweet by Trump saying the executive order was aimed at " dangerous countries ".

Farmers protest: Scindia arrested enroute to Mandsaur
Jun 14, 2017 - 07:40
If the assembly is an unlawful assembly within the meaning of section 141, the offender will be punishable under section 145. Both the Congress leaders were taken in a Vajra vehicle to Jaora town, where they were formally arrested by the police.

isis-killer-beheading-video-story-top Kashmir: 10 soldiers injured in grenade attack
Jun 14, 2017 - 07:40
In the last couple of weeks, attempts of infiltration from across the line of control and ceasefire violation has gone up. Terrorists targeted the camp at Lariyar village in Pulwama district, 40 km away from Srinagar , officials said.

isis-killer-beheading-video-story-top Sharp rise in Britons seeking German passports as Brexit looms
Jun 14, 2017 - 07:39
Of the total 110,383 people naturalized in 2016, as many as 2,865 came from the United Kingdom (2.6 percent of the total number). More Britons than ever before became German citizens previous year after Britain's vote to leave Europe.

Twins draft California prep shortstop Royce Lewis at No. 1
Jun 14, 2017 - 07:38
Then a star at Cretin-Derham Hall, first baseman Joe Mauer was the last player selected by the Twins with the No. 1 overall pick. Bukauskas reacted on Twitter after being drafted by the Oakland Athletics and Houston Astros , respectively.

isis-killer-beheading-video-story-top Tapwrit rallies in stretch to win Belmont Stakes
Jun 13, 2017 - 12:44
Irish War Cry made the lead, set some energy conserving fractions, which basically took the late-running closers out of the race. They had the right running styles, the right dispositions, the right pedigrees. "We're fortunate it fell into place".

Cosby jury wants to review lawsuit testimony
Jun 13, 2017 - 12:44
McMonagle's tone became tinged with anger as he stressed Constand's misstatements to police about the day of the assault. Dozens of women say he assaulted them, but statutes of limitation rules mean he is on trial for only one allegation.

isis-killer-beheading-video-story-top Ivanka Trump: I Wasn't Expecting This 'Level Of Viciousness' In DC
Jun 13, 2017 - 12:42
And they noted that she traveled with President Trump on his first trip overseas to last month, to Saudi Arabia, Israel and Italy. The interview, on the president's morning show of choice, touched on her father's first months in office.

isis-killer-beheading-video-story-top Interior head suggests reducing Bears Ears National Monument
Jun 13, 2017 - 12:42
Zinke added that the administration has enormous respect for tribes and their "sovereignty, respect and self-determination". His review will look at how the national monument designation impacts the local economy and recreation in the area.

Apple 'HomePod' speaker to take on Amazon, Google
Jun 13, 2017 - 12:42
Shares of Alphabet ( GOOGL ) (GOOGL), parent of Google , closed up 1% Monday, while shares of Amazon ( AMZN ) closed up 0.5%. Apple could eventually open the HomePod up to outside developers, much as it did the iPhone and, eventually, Apple TV.

Video shows Penn State frat pledge in agony after fall
Jun 13, 2017 - 12:40
His father, Jim Piazza, rocked back and forth quietly in the front row of the courtroom as he heard his final hours described. By that time, Piazza had "lost all color", and some of the fraternity members thought he may have died, Scicchitano said.

Clinging on to her job, Britain's May appoints new ministers
Jun 12, 2017 - 23:11
Oettinger, a European Commission budget and human resources commissioner, expressed doubt about the talks starting as planned. During this time , the formal Brexit negotiations begin, so the timing of May's epic blunder could not be worse.

Director: 'Wonder Woman' a 'hero' for all
Jun 12, 2017 - 23:11
Patty Jenkins was no different since her only previous film experience was directing the much smaller budgeted drama Monster . Pictures, actress Gal Gadot and actress Lynda Carter attend the premiere of Warner Bros .

Attorney General Jeff Sessions to testify in public on Tuesday
Jun 12, 2017 - 23:10
In addition to Sessions' possible testimony, the question remains whether or not Trump taped his conversations with Comey. He said Trump reached out to him again after the inauguration but he refused to call back, shortly before he was sacked .

Microsoft unveils Xbox One X
Jun 12, 2017 - 23:09
Marketing head for Xbox Albert Penello revealed this feature first on Twitter , and then explained it more on IGN's live show . Nvidia's latest card, the 1080 TI, cranks out almost double the teraflops as the Xbox One X (and costs about $600).