Between 2010 and 2030, the global oil demand will grow with 16 million barrels of oil a day, which is close to 20 percent. This constitutes a marked growth despite the increasing focus in many countries on new sustainable energy forms and ambitions to limit their dependency on oil.
This is the conclusion from BP’s annual Energy Outlook, which also concludes that oil will lose a market share to gas and other energy products.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.