2050 oil markets: opportunities in peak demand?

Seven technology themes can save 45Mbpd of long-term oil demand. They make the difference between 2050 oil consumption surpassing 130Mbpd and our own forecasts: for a plateau in the 2020s, then a gradual descent to 87Mbpd in 2050. This is still an enormous market, equivalent to 1,000 bbls of oil consumed per second. Opportunities abound in the transition: to deliver our seven themes, improve mobility, switch oil to gas, reconfigure refineries and ensure that the world’s remaining oil needs are supplied as cleanly and efficiently as possible.

Make CO2 into valuable products?

This data-file is a screen of 25 companies, which are turning CO2 into valuable products, such as next-generation plastics, foams, concretes, specialty chemicals and agricultural products.

For each company, we have assessed the commercial potential, technical readiness, partners, size, geography and other key parameters. 10 companies have very strong commercial potential. 8 concepts are technically ready,  5 are near-commercial, while 12 are earlier-stage.

The featured companies include c20 start-ups. But leading listed companies include BP (as a venture partner), Chevron Phillips, Covestro, Repsol, Shell (as a venture partner) and Saudi Aramco.

Oil industry CO2 per barrel?

We have constructed a simple model to estimate the full-cycle CO2 emissions of an oil resource, as a function of a dozen input variables: such as flaring, methane leakage, gravity, sulphur content, production processes and transportation to market.

We estimate energy return on energy invested is c10x across the entire oil industry, including upstream, midstream and downstream.

Different resources are compared using our methodology. Relative advantages are seen for large, well-managed offshore oilfields and shale. Relative disadvantages are seen for heavy crudes (e.g., Oil Sands, Mexican Heavy) and producers with low regard for flaring and methane emissions (e.g., Iran, Iraq).

Download the model and you can quickly compute approximate CO2 emissions for other resources.