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Number of the week

Every week, we post a ‘Number of the week’ to highlight the important role oil and gas plays in society. Each number is accompanied by a short explanation.

70%

70% of EU journeys are made by car. Low emission mobility solutions need to stay affordable & convenient. Source: European Automobile Manufacturers Association (ACEA)

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3

The Oil and Gas Climate Initiative has invested in three ventures to reduce greenhouse gas emissions Source: OGCI    

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111

In a speech delivered at the Oil & Money conference, 19 October 2017, London, England, HE Mohammad Sanusi Barkindo, OPEC Secretary General said OPEC expects “demand to pass 100 mb/d in 2020 and to reach over 111 mb/d by 2040.  Let me stress that we see demand growing in every year of the Outlook.  There …

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1977/1997/2017

Discovered 1977, Production 1997, Strong Investment 2017: The North Sea’s Captain Field still going strong, operated by our Member Chevron Source: Chevron

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10.3 million

Oil and Natural Gas supported 10.3 million jobs in the U.S. and contributed $1.3 trillion to the U.S. economy in 2015 Source: API , (See also, API fact sheet )

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+50%, -16%

…the growth of US natural gas production between 1990 and 2015 – largely as a consequence of the shale revolution; and the decline of total methane emissions from natural gas during the same period – despite production growing by half. Source: ExxonMobil, Perspectives blog

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3

3 IOGP Members (Statoil, Shell and Total) have announced a partnership to store CO2 offshore Norway. Source: Statoil  

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$1 Trillion

Norway’s Oil and Gas fund is now worth over $1 trillion.  Money to spend on health, education and infrastructure. One of the many advantages of oil and gas production. Source: Norges Bank Investment Management (NBIM)

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40%

40%: China’s share of the growth in global gas demand in the next 5 years. According to the IEA, global gas demand is expected to increase 1.6%/year for the next 5 years.  Consumption by 2022 will reach almost 4 trillion cubic metres  tcm), up from 3.63 tcm in 2016. China will …

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