BP have launched their 63rd Statistical Review of World Energy, aimed at providing the industry, media and governments with facts of energy consumption and ouput.
Among the key findings in the report were the increases in coal and nuclear production. Despite many sources failing to meet the globe's requirements and historical figures, renewable energy made particular increases to take up the highest figures ever of overall consumption.
Here's a breakdown of the key findings by energy source:
Global oil consumption grew by 1.4 million barrels per day in 2013, just above historical averages set. Despite this, oil production did not keep pace with the growth in global consumption. The US recorded the largest incremental increase in the world, out pacing China (+400,000 b/d vs +390,000 b/d).
Prices averaged $108.66 per barrel in 2013, a decline of $3.01 from 2012, whilst WTI continued to trade at a large discount to Brent ($10.67 per barrel) driven by growing US production.
Global oil trade in 2013 grew by 1.7% helped along by importers' increase, Europe's growth and the emergence of growing economies around the world. This increase was also despite declines in the US and Japan.
Consumption grew by 1.4% for natural gas but was still short of historical averages set 2.6% higher. Growth was higher than average in OECD countries (+1.8%) than it was in non OECD countries (+1.1%).
China and the US recorded the largest increments in the world, together accounting for a staggering 81% of global growth. Production in gas grew by 1.1% which again was below the historical averages of 2.5%, and below the consumption for 2013.
Globally, natural gas trade grew by 1.8%, significantly below the average 5.2%. Despite this, pipeline shipments grew by 2.3% driven by a 12% increase in net Russian exports which offset massive declines in Algeria, Norway and Canada.
Qatar remained the largest exporter of LNG (32% globally) with South Korea, China and South & Central America the main importers.
Coal consumption grew by 3% in 2013, once again below the 10-year average of 3.9%, but still surprisingly the fastest-growing fossil fuel. Coal's share of global primary energy consumption rocketed to 30.1%, the highest figures since 1970. Consumption outside the OECD countries also increased.
India experienced its second largest increase on record for volume, accounting for 21% of the world's growth. Despite declines in usage in Europe as a whole, US and Japan, the fuel decline was offset by Indonesia, Australia and China.
Output grew by 0.9%, which compared to the above fossil fuels, doesn't sound like major news. However, this is the first increase in output in 4 years. Increases in USA, China and Canada offset massive decreases in South Korea, Ukraine, Spain, Russia and Japan.
The latter, Japan, has reduced their output by 95% since 2010 which explains why the output accounts for only 4.4% of global energy consumption, the smallest share since 1984.
There was a continual increase in renewable energy sources including hydroelectric which grew by 2.9%. Led by China and India, hydroelectric accounted for 6.7% of global energy consumption, with 78% of the growth created in the Asia-Pacific region. China overall saw the largest incremental growth, followed by the US.
Wind energy accounted for more than half of renewable power generation (+20.7%), whilst solar accelerated at an even faster rate of 33%. Global bio fuel production grew too but by a below-par 6.1%. Brasil and the US led the way on the production of bio fuel.
Despite fragile global economics, political uncertainty and country's unrest, the world of energy has continued to diversify and increase production to meet consumption needs.
With fossil fuels such as coal going through a renaissance period, nuclear seeing output grow for the first time in four year, and renewable energy practices taking a larger stake in global consumption levels, the industry is responding to the world's continued energy requirements.
The next 12 months promises to be an interesting time for the industry. As the economy continues to repair, and investment in renewable energy increases, geopolitical problems threatens to hold back the advances.
Will it be enough to push the industry off course to meet consumption figures? Only time will tell.