Speakers from Touchstone Exploration, Shanta Gold, Savannah Resources and Kavango Resources feature in our Natural Resources webinar on May 25th. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 313.70
Bid: 313.70
Ask: 313.80
Change: -4.80 (-1.51%)
Spread: 0.10 (0.03%)
Open: 316.25
High: 318.75
Low: 313.20
Yest. Close: 318.50
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

BP Says Fossil Fuel Demand Could Peak Early Due To Coronavirus

Mon, 14th Sep 2020 14:36

(Alliance News) - The demand for fossil fuels could face an early peak due to the coronavirus pandemic, as developing economies are hit particularly hard by the virus, according to a report by energy giant BP PLC published on Monday.

The pandemic is expected to have a "significant and persistent impact" on the global economy and energy systems, the company said in its annual BP Energy Outlook.

BP economists analysed different scenarios for global energy demand until 2050, forecasting a "fundamental shift" as fossil fuels are replaced by renewables and electricity consumption rises.

The economists expected economic activity to only partially recover over the next few years, with global gross domestic product 2.5% lower in 2025 compared to before the pandemic, and 3.5% lower in 2050.

Emerging economies including India, Brazil and some African states were expected to be "most exposed," while global behavioural changes such as working from home and decreased use of public transport could become permanent, BP said.

"Even as the pandemic has dramatically reduced global carbon emissions, the world remains on an unsustainable path," said BP chief executive Bernard Looney.

"[But] with decisive policy measures and more low carbon choices from both companies and consumers, the energy transition still can be delivered," Looney said.

According to the report, under a "business as usual" scenario in which governments continue with existing policies, emissions would only decline slightly.

A "rapid transition" would see a 70% fall in emissions by 2050, while a "net zero" scenario would see emissions fall by over 95% amid "significant shifts" in demand.

source: dpa

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

Renewables to grow far faster than oil sector expects, Rystad says

OSLO, May 6 (Reuters) - Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday.Its updated model...

Today 10:17

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

5 May 21 15:54

LONDON MARKET CLOSE: DAX underperforms in rocky European session

LONDON MARKET CLOSE: DAX underperforms in rocky European session

4 May 21 17:08

DIRECTOR DEALINGS: Filta Non-Exec Sayers sells GBP1.7 million worth

DIRECTOR DEALINGS: Filta Non-Exec Sayers sells GBP1.7 million worth

4 May 21 15:45

LIVE MARKETS-Expect a dip, but get ready to buy it

* European shares up 0.3%* Mining stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with ...

4 May 21 12:28

LONDON MARKET MIDDAY: Commodity and travel stocks send FTSE 100 higher

LONDON MARKET MIDDAY: Commodity and travel stocks send FTSE 100 higher

4 May 21 12:21

LIVE MARKETS-The ESG solution: Living in a Paris office

* European shares up 0.2%* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your tho...

4 May 21 12:18

LIVE MARKETS-Upcoming market fears

* European shares up 0.2%* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your tho...

4 May 21 11:51

LIVE MARKETS-The EU's stimulus plan is no minnow

* European shares flat* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your though...

4 May 21 11:28

TOP NEWS SUMMARY: Saudi Aramco reports 30% rise in quarterly income

TOP NEWS SUMMARY: Saudi Aramco reports 30% rise in quarterly income

4 May 21 10:58

LIVE MARKETS-Bubble exposure? It's not so bad

* European shares flat* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your though...

4 May 21 10:08

UPDATE 2-UK stocks fall as bank stocks weigh; factory activity jumps

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* UK factory activity expands at fastest rate since 1994* Weaker pound boosts heavyweight consumer staple companies* FTSE 100 down 0.7%, FTSE...

4 May 21 09:46

LIVE MARKETS-Italian banks mergers: game on

* European shares flat* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your though...

4 May 21 09:37

LIVE MARKETS-AIM: an unexpected success story

* European shares flat* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your though...

4 May 21 09:29

LIVE MARKETS-Europe supported by recovery bets, London catches up

May 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.comEUROPE SUPPORTED BY RECOVERY BETS, LONDON CATCHES UPEuropean shares open in...

4 May 21 08:58

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.