July 2008

Trends and Resources

HP In Brief: HPIn Brief

BP's annual energy analysis The world's fossil fuel resource base remains sufficient to support growing levels of production, but industry continue..

Weirauch, Wendy, Hydrocarbon Processing Staff

BP's annual energy analysis The world's fossil fuel resource base remains sufficient to support growing levels of production, but industry continues to be challenged by weakness in oil supply along with increased demand outside the OECD, according to the 2008 BP Statistical Review of World Energy. The oil price has been on an upward path for more than six years. This is the longest period of rising prices on record, according to the company's data series, which goes back to 1861. Discounts for heavy, sour crudes remained high, reflecting constraints on upgrading capacity in refining. Global oil consu

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