UK-based oil giant BP has published its latest Energy Outlook for 2025.
The report presents research into how the world’s energy system will be shaped by global trends. It considers two basic scenarios for global warming: a trajectory based on current trends, and a hypothetical trajectory that would keep global warming within 2 degrees Celsius.
Like many traditional oil and gas companies, BP has invested in renewable energy projects in addition to making lubricant and grease products in the Castrol range.
This year’s report includes a new section exploring how future developments could affect energy demand, such as the adoption of artificial intelligence. While the required data centres will of course consume energy, the report indicates that this could be mitigated and even exceeded by efficiency improvements in grid infrastructure and wider productivity, although it points out that this is subject to uncertainty.
The chief economist at BP, Spencer Dale, said:
“The future of the global energy system, including the likely speed and nature of the energy transition, is one of the most important and fascinating topics of our time. This year’s Outlook examines a range of issues, including the changing structure of oil demand.”
He also pointed to the future of the energy system and how artificial intelligence may affect it. He said the report shows energy in all forms is being increasingly consumed. Dale further added that the underlying demand trends would help inform the sort of fuels that will be produced and consumed in the near future.
