Heriot-Watt University has been awarded £1.25 million by BP to continue its energy economics research and as its corporate partner for the oil giant’s annual energy benchmark reports, the BP Statistical Review of World Energy and the BP Energy Outlook.
The university’s Centre for Energy Economics Research and Policy (CEERP) has worked with BP since 2007, and the new funding secures a further three years of expert statistical and analytical support for the BP Statistical Review and Energy Outlook.
The BP Energy Outlook outlines BP’s views of future global energy markets through to 2040 and uses a range of scenarios to explore the key uncertainties. The BP Statistical Review provides objective and globally consistent data on world energy production, consumption, reserves and trade.
Energy economists at Heriot-Watt’s CEERP work with BP’s economics team to gather, analyse and interpret data from around the globe to compile the reports, which are regarded as an institution by the energy sector and policymakers alike.
Professor Mark Schaffer, director of the CEERP at Heriot-Watt University, said: “All commercial fuels and sources are covered: oil, natural gas, coal, nuclear, hydroelectricity and electricity from renewable resources.
“We analyse and standardise data from countries around the world, companies and we examine trade relationships for anomalies and risks.”
The next BP Energy Outlook will be published 20 February 2018.
5 Feb 2018