BP Amoco’s Statistical Review of 1999

BP Amoco’s annual review has just been published. While demand was flat in 1999, the year saw strong price recovery to an average $18.25 for the year.

BP Amoco has just published its annual Statistical Review Of World Energy. Demand was flat in 1999, mainly due to a large fall in Chinese energy use (which intriguingly happened “without discernible impact on Chinese economic growth”) Oil prices recovered strongly from 1998, rising 39 per cent to an average $18.25 for the year.


OPEC production fell 5.4 per cent to 29.3 million barrels a day. Non-OPEC production also fell, by 3.8 per cent in the USA and 4.8 per cent in Mexico. UK production, however, rose by 3.4 per cent, with ten new fields commissioned during the year. G as gained market share, rising to over 24 per cent of total energy consumption.


Coal continued to lose market share, while nuclear power use rose 3.8 per cent, largely due to an 8.0 per cent rise in the USA where re-licensing of existing plant supported output despite no new plant commissioning. Use of hydroelectricity continued to slowly grow, up 0.9 per cent in 1999, but is significantly influenced by the weather on a year-by-year basis. Production of energy from other renewable sources remains tiny by comparison with other sources. Wind is the fastest growing of the renewable sources. The BP Amoco Statistical Review of World Energy 2000 is published on the internet at www.bpamoco.com/worldenergy.

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