Energy for prosperity

Economic growth and the quality of life in the developed world depend on reliable, affordable energy. It drives industrial production and the information economy. Access to it is also vital for lifting people out of poverty. Motorised transport brings people to where the jobs are and goods to market. Electricity is essential for cooling medicines in fridges, making study possible after nightfall, and pumping and cleaning water. Access to electricity also makes use of mobile phones, computers and the internet possible, allowing people to tap in to the world’s knowledge, markets and relationships. It enables communities to reach out, speak out and work with others on common issues of importance to them.

Today, up to 2 billion people lack access to reliable modern energy. The world’s population is expected to grow by another 3 billion by 2050, mostly in areas without access to modern energy today. Our scenarios and the International Energy Agency say that twice as much energy will be needed by 2050.

Our contribution

We provide about 2% of the world’s oil and 3% of its natural gas. We sell transport fuel to some 10 million customers a day and enough liquefied natural gas to provide electricity for 34 million homes. And in 2008, we invested $32 billion, net of proceeds from divestments, to develop and bring new sources of modern energy to market. Our 2008 investment level was higher than that of any other international oil company, according to their annual reports. So was our more than $1.2 billion investment in research and development into technologies that will be needed to produce more energy and cleaner fuels. All to help meet rapidly growing energy demand, and to keep the world economy moving.