MARKETS

Coal production and consumption dives

World coal production fell 6.2%, the largest decline on record.

Lou Caruana
Coal production and consumption dives

World coal production fell 6.2%, or 231Mtoe, the largest decline on record.

The largest declines in coal consumption were in the US, which fell by 8.8% or 33Mtoe and China, which was down by 1.6% or 26Mtoe.

Coal consumption in the UK more than halved, dropping 12Mtoe to its lowest level in BP records.

Coal’s share of global primary energy consumption fell to 28.1%, the lowest share since 2004.

China’s production fell 7.9% or 140Mtoe, also a record decline. US production fell by 19% or 85Mtoe.

BP group chief economist Spencer Dale said the fortunes of coal appeared to have taken a decisive break from the past. 

“This shift largely reflects structural factors: the increasing availability and competitiveness of natural gas and renewables, combined with government and societal pressure to shift towards cleaner, lower carbon fuels,” he said.

“These long-term forces in turn have given rise to near-term tensions and dynamics. 

“This was particularly the case in China, which at the beginning of the year introduced a series of measures to reduce the scale of excess capacity in the domestic coal sector and improve the productivity and profitability of the remaining mines.”

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production