Figure 1. BP Statistical Review and Energy Outlook 2018 Edition

On October 22, 2018, The Purnomo Yusgiantoro Center (PYC) researchers attended a BP Statistical and Energy Outlook 2018 Edition event with the theme of Global Energy: Past, Present, and Future held in City Plaza, Jakarta. It was organized by British Petroleum (BP) collaborated with Special Task Force Upstream Oil and Gas Business Activities (Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi, SKK Migas).

Mr. Spencer Dale (Group Chief Economist, BP Global), as the speaker, delivered the global energy outlook. He highlighted that primary energy consumption will continue to increase globally. In 2017, the growth of the primary energy consumption reached 2.2%. Gas grew quite impressive in 2017 and reached increasing of 96 million MSCF. BP estimates gas demand will continue to increase until 2040, with North America as the largest consumer. Moreover, renewable energy shows its growing existence in global energy with 17% growth or 69 billion TOE. The growth of renewable energy in 2017 was the highest in the last ten years. It shows that gas and renewable energy have an essential role in the future.

Spencer stated that China and India are countries that dominate energy demand in the global. The most significant energy demand comes from the industrial sector. In the power generation sector, almost 50% is from renewable energy, followed by coal by 44%. In the BP energy outlook, in the future fossil fuels will have a downward trend, and non-fossil fuels will increase.

In Indonesia’s energy mix, until 2017, oil consumption continued to decline, but in contrast, coal continued to increase.  In addition, net exports of coal in Indonesia have also increased over the past ten years. Mr. Jaffee Arizon Suardin as the Planning Deputy of SKK Migas added, although renewable energy tends to increase, oil and gas remains optimistic in the future to carry out its role as a driver of the national economy.

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