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24

Exxon Mobil: Global Energy Surge 60%

Global energy consumption will soar 60% over the next 25 years

US oil giant Exxon Mobil forecast in its annual energy outlook that global energy consumption will soar 60% over the next 25 years.

Energy demand will grow to 334 million barrels of oil equivalent a day in 2030, up from 205 million in 2000, Jaime Spellings, head of Houston-based Exxon Mobil's corporate planning, said during a webcast of the outlook's presentation.

Oil consumption will grow 1.4% annually, and gas will grow 1.8% per year. Most of the growth will occur in developing countries, he added