BP is one of the world’s leading international oil and gas companies. Through BP’s work the firm provides customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.
BP’s businesses are organized to deliver the energy products and services people around the world need right now. Its Upstream segment is responsible for its activities in oil and natural gas exploration, field development and production. BP’s Downstream segment is the product and service-led arm of BP, focused on fuels, lubricants and petrochemicals.
The BP Energy Outlook identifies long-term energy trends, and then develops projections for world energy markets to 2035.The annual Energy Outlook reflects BP’s best effort to describe the “most likely” trajectory of the world’s energy system. This edition updates the company’s view of the likely path of global energy markets and extends it to 2035. BP make assumptions on changes in policy, technology and the economy, based on extensive internal and external consultations, using a range of analytical tools to build a single “most likely” view.
Once again, the Outlook highlights the power of competition and market forces in driving technology and innovation to meet the world’s energy needs. These factors makes BP optimistic for the world’s energy future, and they suggest a way forward in mastering challenges such as security and sustainability.