BP’s Annual Energy Report: Smallest Demand Increase since 1990s

BP (what used to be known as British Petroleum) is, and has been for years, North America’s top natural gas marketer. Although first quarter 2015 marketer rankings aren’t out just yet, if you look at fourth quarter 2014, BP sold (i.e. marketed) twice as much natural gas on a daily basis as the next nearest company, which happens to be Shell (see NGI’s 4Q14 NatGas Marketer Rankings). Like other oil “majors,” BP issues a yearly outlook on worldwide energy consumption and trends. BP calls their version of this report the BP Statistical Review of World Energy. The company released the 64th edition of that review today (full copy below). BP themselves say this edition, “highlights the continuing importance of the US shale revolution, with the US overtaking Saudi Arabia as the world’s biggest oil producer and surpassing Russia as the world’s largest producer of oil and gas.” Readers of MDN already know those two facts: that the US years ago dethroned Russia as the #1 natural gas producer, and that more recently we’ve dethroned Saudi Arabia as the world’s #1 oil producer. What else do we learn from this year’s report?…

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