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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.

204

BP’s North Sea Quad 204 has started production. It represents 450 jobs, £4.4bn worth of investment and guarantees a minimum of 18 years’ worth of oil production. Source: BP.com

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2019

IEA forecasts that oil demand will pass the symbolic 100 mb/d threshold in 2019 (and reach 104 mb/d by 2022). Source: IEA Market Report Series: Oil 2017

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B20

Business needs fair competition, clear and transparent rules, and investor certainty. The B20’s policy recommendations to the G20 include advancing climate protection and resource efficiency. Curtailing Climate Change – The G20 should curtail climate change by implementing the Paris Agreement, developing consistent and robust carbon pricing, as well as by fostering …

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330,000

… households in Germany had their power supply cut last year because they did not pay their energy bill. (Source DIE ZEIT No. 17, April 20, 2017 – “Die Abgeklemmten”) Affordable energy is vital for a thriving society, not only in developing nations, but also in mature industrialized countries.

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63 million

Wind power relies on oil:  high-performance petroleum-based lubricants for turbines last for 7 years, the equivalent of  63 million rotations. Source: ExxonMobil

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57%

According to a recent survey, over 57% of Germans view natural gas as the best complement to renewables. Source: www.BVEG.de

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70%

According to a recent survey, 70% of Germans think that their country will continue to use natural gas at the same rate or higher in the future. Source: www.BVEG.de

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10%

By 2040, demand for desalinated water in Middle East will account for over 10% of the region’s energy consumption. Source: Water Energy Nexus, by IEA  

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2x

By 2040, the amount of energy used in the water sector will double. Source: Water Energy Nexus, by IEA  

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