EIA’s Latest International Energy Outlook Highlights Analysis of China, India, and Africa

world total primary energy consumption, as explained in the article text

Source: U.S. Energy Information Administration, International Energy Outlook 2018

China, India, and Africa are three of the most populated parts of the world. Their economies collectively consume about one-third of all global energy, and their energy consumption is projected to grow faster than the rest of the world through 2040. As a result, changes in these economies have significant implications for global energy markets.

Today, EIA is releasing three reports in its International Energy Outlook 2018 (IEO2018) that discuss the energy implications of potential changes in these economies. A related webcast presentation and panel discussion will begin at 9:00 a.m. Eastern Time this morning from the Center for Strategic and International Studies.

Key findings of the IEO2018 include

  • In all IEO2018 China side cases considered, China's economy remains by far the world's largest producer of energy-intensive goods in 2040. Faster economic growth in China leads to higher energy consumption, but the amount it increases depends on how quickly China transitions from an export, investment-led economy to a more service-oriented, personal consumption-based economy. 
  • India is projected to be the most populated country with the fastest-growing economy in the world under all three India side cases; however, Indian energy consumption levels do not reach those in China or the United States in the next two decades in any of India's side cases.
  • Higher economic growth across Africa leads to an expanding manufacturing sector and increasing industrial energy consumption because of possible regional competitive advantages. Higher assumed economic growth over the projection period leads to African energy consumption per capita that is 30% higher than in the Reference case in 2040.

China, India, and Africa collectively accounted for 32% of global energy consumption in 2015, and in the IEO2018 Reference case, these regions are projected to account for 36% of global energy consumption in 2040.

IEO2018 builds on the Reference case presented in last year's outlook, IEO2017. The IEO2017 Reference case has been updated with macroeconomic information, but no modeling changes have been made to other end-use sectors. This year's outlook offers a macroeconomic perspective regarding the uncertainty in economic growth in China, India, and Africa. The side cases in IEO2018 increase annual average growth in real gross domestic product (GDP) between 2015 and 2040 to higher levels than in the IEO2018 Reference case.

To consider uncertainty related to economic structure, the composition of economic growth is also varied in the cases for India and China. EIA also generated an economic growth case where Africa's economy grows faster than in the IEO2018 Reference case.

Today's webcast includes a presentation from EIA Administrator Linda Capuano and a panel discussion with Todd Moss from the Center for Global Development, Anvita Arora from King Abdullah Petroleum Studies Research Center (KAPSARC), and Edward Chow from the Center for Strategic and International Studies.

Principal contributor: Vipin Arora

Visit source site


EIAEnergy Information Administration EIAEnergyChinaIndiaAfricaConsumptionProduction

More items from oilvoice

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice

Posted 12 days agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice

Posted 4 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice

Posted 4 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice

Posted 5 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice

Posted 5 months agoPress > TotalDividend
All posts from oilvoice