Forecasting the Future: Sinopec's Energy & Chemical Industry Reports
Key Ideas
- Global energy consumption is expected to peak by 2045 with renewable energy taking a larger share.
- China's energy transformation includes a shift to non-fossil energy sources like hydrogen and ammonia.
- Sinopec predicts peak oil demand, significant growth in non-fossil energy, and challenges in the chemical sector.
- Innovation is driving growth in China's energy and chemical industries toward sustainability.
China Petroleum & Chemical Corporation (Sinopec) released the 2025 China Energy & Chemical Industry Development Report, providing insights into global and Chinese energy landscapes. Major forecasts include peak global energy consumption by 2045, with renewable energy dominating. The reports highlight the rise of non-fossil energy sources like hydrogen and CCUS. China aims for peak energy consumption post-2030, emphasizing non-fossil energy and clean alternatives. The outlook includes predictions on oil demand, carbon emissions, and challenges in the chemical sector. Sinopec's reports offer a roadmap for a sustainable energy transition, emphasizing innovation and technology advancement in the industry.