Understanding carbon intensity of oil will help producers address energy transition

Fossil fuels will play a major part in global energy supplies for decades to come, meaning the industry and policymakers must focus on how to encourage the lowest-carbon intensive sources

Despite talk that the world may have reached peak oil demand, Platts Analytics outlooks show it is unlikely we will reach this point before the next decade and, even with the most optimistic outlooks, fossil fuels will continue to account for up to 50pc of the energy supply in 2050 despite great efforts to decarbonise and grow renewable energy.  We cannot afford to stick our heads in the ground and not face this potential reality and, as such, it is incumbent on the industry and policymakers to ensure the fossil fuels we consume are incentivised to come from the lowest-carbon intensive sources. Auditable measurement of upstream carbon intensity, supply chains and manufacturing along with eff