Media releases

The Energy Institute (EI), in collaboration with Kearney and KPMG, today released the 74th edition of the Statistical Review of World Energy, offering the first complete look at global energy data for 2024.

In a year when average air temperatures consistently breached the 1.5°C warming threshold, global CO₂-equivalent emissions from energy rose by 1%, marking yet another record, the fourth in as many years.

Wind and solar energy alone expanded by an impressive 16% in 2024, nine times faster than total energy demand. Yet this growth did not fully counterbalance rising demand elsewhere, with total fossil fuel use growing by just over 1%, highlighting a transition defined as much by disorder as by progress.

Crude oil demand in OECD countries remained flat, following a slight decline in the previous year. In contrast, non-OECD countries, where much of the world’s energy demand growth is concentrated and fossil fuels continue to play a dominant role, saw oil demand rise by 1%. Notably, Chinese crude oil demand fell in 2024 by 1.2%, indicating that 2023 may have reached a peak. Elsewhere, global natural gas demand rebounded, rising by 2.5% as gas markets rebalanced after the 2023 slump. India’s demand for coal rose 4% in 2024 and now equals that of the CIS, Southern and Central America, North America, and Europe combined.

These trends underscore a stark truth: while renewable energy is scaling faster than ever, global demand is rising even faster. Rather than replacing fossil fuels, renewables are adding to the overall energy mix. This pattern, marked by simultaneous growth in clean and conventional energy illustrates the structural, economic, and geopolitical barriers to achieving a truly coordinated global energy transition.

Energy Institute President Andy Brown OBE FEI said, “This year’s data reflects a complex picture of the global energy transition. Electrification is accelerating, particularly across developing economies where access to modern energy is expanding rapidly. However, the pace of renewable deployment continues to be outstripped by overall demand growth, 60% of which was met by fossil fuels. The result is a fourth consecutive year of record emissions, highlighting the structural challenges in aligning global energy consumption with climate goals.”

“All major energy sources, including nuclear and hydro, hit record consumption levels (for the first time since 2006), a reflection of surging global demand," commented Dr Nick Wayth CEng FEI, CEO of the Energy Institute. "No country has shaped this outcome more than China. Its rapid expansion of renewable capacity, alongside continued reliance on coal, gas, and oil, is driving global energy trends. The scale and direction of China’s energy choices will be pivotal in determining whether the world can deliver a secure, affordable, and low-carbon energy future."

Dr Romain Debarre, Partner and Managing Director Energy Transition Institute, Kearney stated: “Last year was another turning point for global energy, driven by rising geopolitical tensions. Energy security, resource access, and technological sovereignty are now taking priority over climate goals. This year’s data reveals three trends that are shaping the energy landscape: energy use is rising, but patterns are shifting; electrification is rapidly accelerating; and the energy transition remains chaotic.

“We are witnessing the real dangers of regional differences and the cost of inaction in real time. Record-high GHG emissions and soaring temperatures in 2024 are a deafening wake-up call. We have the strategies, technologies, and know-how to deliver the energy transition with an integrated, secure, and people-centred approach. Now, we must move from promises to action, at scale and at speed.”

Wafa Jafri, Lead of Energy and Natural Resources Strategy and Partner KPMG in the UK observed: “COP28 set out a bold vision to triple global renewables by 2030, but progress is proving uneven and despite the rapid growth we have seen globally we are still not at the pace required, as energy demand continues to rise. This year’s data highlights how Europe has been facing a reality check, with rising interest rates and supply chain costs slowing progress on renewables, while China and other emerging markets continue to drive growth at scale. What’s emerging is not a uniform transition, but a disorderly one.

“Leaders navigating this need to look beyond headlines and towards practical delivery, regional opportunity, and strategies built for resilience as all facets of the energy trilemma: affordability, security of supply and decarbonisation, compete for priority.”

ENDS

Notes for editors

1. Media enquiries and for regionally focused releases for Africa, Asia, Europe, Middle East or North America: Gemma Regniez, EI Director of External Affairs gregniez@energyinst.org 07966875843 Neil Michie, EI Head of Comms & Marketing nmichie@energyinst.org 07763 833250
2. The EI Statistical Review of World Energy 2025 report and other materials, including the full data set and energy charting tool, are available at: https://www.energyinst.org/statistical-review
3. The EI Statistical Review of World Energy analyses data on world energy markets from the prior year. It has been providing timely, comprehensive and objective data to the energy community since 1952, originally from bp and, since 2023, under the custodianship of the EI and its co-authors KPMG and Kearney.
   Data compilation is undertaken by Heriot-Watt University and additional support is provided by our Knowledge Partner S&P Global Commodities and, during the transition period, by bp.
   The Statistical Review continues to be full, first and free: the fullest, most reliable account of energy production, consumption, trade and emissions; the first data source to provide a complete global picture of the previous year; and completely free to access for users.
4. For the 2025 Statistical Review of World Energy, we have changed the way we calculate total primary energy consumption by moving to an updated methodology: total energy supply.
   More information about the change in methodology can be found here.
5. This year’s Statistical Review introduces new mineral data sets, including aluminium, bauxite, tin, vanadium and zinc, as well as additional commodity prices.
6. The Energy Institute (EI) is the chartered professional membership body for people who work across the world of energy. Our purpose is to create a better energy future for our members and society by accelerating a just global energy transition to net zero. We do this by attracting, developing, and equipping the diverse future energy workforce; informing energy decision-making through convening expertise and advice; and enabling industry and consumers to make energy lower carbon, safer, and more efficient.
7. Kearney Since 1926, Kearney has been a leading management consulting firm and trusted partner to three-quarters of the Fortune Global 500 and governments around the world. With a presence across more than 40 countries, our people make us who we are. We work impact first, tackling your toughest challenges with original thinking and a commitment to making change happen together. By your side, we deliver value, results, impact.
8. KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services in 142 countries and territories with more than 275,000 partners and employees working in member firms around the world. KPMG professionals strive to make the difference. They’re helping organizations across various sectors accelerate their digital transformation, manage risks, drive forward with their ESG strategies and unlock sustainable growth.