Replies to post #196 on Statoil ASA (STO)

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Statoil sees oil demand potentially peaking in 2030

Statoil (STO -0.6%) foresees substantial changes to the global energy mix as the world moves towards a low-carbon energy system, with oil demand potentially peaking in 2030.

STO says in its annual Energy Perspective report that renewables could rise from slightly more than 1% of total primary energy demand in 2014 to nearly 20% in 2050, and that it aims to spend 15%-20% of annual investments on new energy solutions in 2030 to stay competitive in the market.

STO believes global oil demand will increase into the 2020s, but could drop to as low as 65M bbl/day by 2050 compared with 97M bbl/day today.