Global oil demand continues to grow until 2040, mostly because of the lack of easy alternatives to oil in road freight, aviation and petrochemicals, according to the World Energy Outlook 2016.
However, oil demand from passenger cars declines even as the number of vehicles doubles in the next quarter century, thanks mainly to improvements in efficiency, but also biofuels and rising ownership of electric cars.
Powering global progress
As the global demand for energy grows, easily accessible sources of oil and gas are becoming scarcer. Energy companies need to cope with ever more complex challenges in order to unlock potential new fields. Maersk operates at the forefront of energy technology, using new thinking and new methods to push the boundaries of possibility and challenge old conventions.
Oil and gas are energy-dense substances that are widely dispersed all over the world. These fossil fuels were formed when organic matter was buried under layers of sediment and subjected to high levels of heat and pressure over the course of millions of years.