by Dr. Samuele Furfari
Professor of Energy Geopolitics

Like clockwork, we receive the annual Statistical Review of World Energy relevant to energy geopolitics every June. From 1954 until 2022, BP volunteered to compile this data. Initially, the review only covered oil, but was later expanded to include all fossil fuels, and finally to include data on renewable energies and nuclear energy. Since 2023, the Energy Institute has continued this essential work of analysing quantitative developments in energy geopolitics.

On 26 June 2025, the Energy Institute published the latest version containing data from 2024. It allows us to conclude that little has changed: the world continues to rely heavily on fossil fuels. Globally, the expansion of renewable energy sources is lagging behind rising energy demand, with fossil fuels accounting for a significant proportion of this growth. Rather than undergoing a definitive energy transition, the world is currently experiencing a phase of energy addition, where new renewables are supplementing rather than replacing conventional energy sources. But let’s look at that in more detail.

Read Dr. Furfari’s report Energy Addition, Not Transition: Fossil Fuels Remain the Bedrock of Progress here.