BP: Unconventionals to drive supplies through 2030

Outlook: unconventional sources to drive supplies through 2030

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Luke Johnson

 16 January 2013 18:28 GMT

Supplies of oil and gas will continue to rise in the coming decades, driven almost entirely by unconventional sources, according to BP's annual outlook of energy markets through 2030.

The UK supermajor called fears of dwindling supplies of hydrocarbons "groundless", even as demand for oil is expected to grow at a slower rate than any other energy source.

“The outlook shows the degree to which once-accepted wisdom has been turned on its head. Fears over oil running out – to which BP has never subscribed – appear increasingly groundless," BP chief executive Bob Dudley said in a statement.

Unconventional sources of oil in North America - including tight oil, oil sands and biofuels - are expected to provide all of the…

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