On Monday, BP published a report on its energy outlook. Based on the data, oil is likely
BP head Bernard Looney noted that the new reportwill help the company “better comprehend the changing landscape of power,” and will also play an important role in developing its plans to become a zero-energy Internet firm by 2050.
According to the report, oil demand will decline by 55% inover the next 30 years. If as many countries as possible comply with the Paris Climate Agreement, oil demand will fall by 80% by 2050.
The rise in popularity of electric vehicles could also affect the demand for oil.
Another factor that reduces the demand for oil inIn the coming years, there are new measures to curb plastics, which require petrochemicals made from fossil fuels to produce.
The report's authors stated that OPEC members, led bySaudi Arabia may be hit hardest by falling oil demand. At the same time, the company is confident that US shale drilling rigs will take a larger share of the global oil market over the next decade.
Last month BP unveiled plans toincrease its investment in low-carbon technologies eightfold by 2025 and tenfold by 2030, reducing fossil fuel production by 40% compared to 2019. Last week, the company took its first step in the offshore wind business with a $ 1.1 billion investment.
BP, BP, until May 2001 British Petroleum is a multinational oil and gas company headquartered in London. About a third of the company's revenue comes from operations in the United States.
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