LONDON (ICIS)--Growing world population and changing needs in mobility across the demographics are key drivers for future energy demands, according to the fuel research director for Aramco Overseas Company, speaking at the ICIS 23rd World Base Oils & Lubricants conference this week in London.
Transportation accounts for 56% of global oil consumption, with 46% of that consumption taken up by passenger transport, said Pierre Olivier Calendini.
Additionally, he said, the future passenger car fleet will grow and petroleum-based fuels will remain the largest fuel source – it is also the largest contributor to carbon dioxide (CO2) emissions.
There is no "one-size-fits-all” switch to solve the CO2 emissions challenges, Calendini said.
Short-term solutions might be found by utilising low-carbon crude oil obtained by co-processing methods at the refining level, improving engine efficiency in internal combustion engines or turning to alternative technologies such as fuel cells, he said.
Calendini also said that energy demand will grow and that renewable fuels can help but are insufficient to meet future energy demand and CO2 accounting is necessary.
The conference ends on Friday.
Follow Judith on Twitter