Who Is The World’s Biggest Energy Supplier?

According to the Energy Institute’s (EI) latest statistical review of world energy, which was released recently, China is the world’s biggest energy supplier.

The country supplied 158.88 exajoules of energy in 2024, which represented a 2.4 percent year on year increase and 26.8 percent of the world’s energy supply last year, the review outlined. From 2014 to 2024, China’s energy supply saw an average yearly increase of 3.1 percent, the review showed.

Of China’s energy supply figure of 158.88, 32.27 exajoules came from oil, 15.64 exajoules were from natural gas, 92.16 exajoules came from coal, 4.92 exajoules came from nuclear energy, 4.88 exajoules came from hydro-electricity, and 13.90 exajoules were from renewables, the review highlighted.

The U.S. was the world’s second biggest energy supplier last year, with 91.83 exajoules, according to the review, which pointed out that this figure marked a 0.4 percent year on year rise and 15.5 percent of global energy supply in 2024. From 2014 to 2024, U.S. energy supply decreased by an average of 0.1 percent every year, the review showed.

According to the review, oil made up 35.82 exajoules, natural gas made up 32.48 exajoules, coal made up 7.90 exajoules, nuclear energy made up 8.98 exajoules, hydro-electricity made up 0.86 exajoules, and renewables made up 6.65 exajoules of the U.S. energy supply figure of 91.83 exajoules.

India was ranked as the world’s third biggest energy supplier in 2024 in the EI’s review. The country supplied 38.76 exajoules of energy last year, which was a year on year increase of 4.3 percent and 6.5 percent of global energy supply in 2024, the review pointed out. From 2014 to 2024, India’s energy supply grew by an average of 3.9 percent every year, the review highlighted.

Of India’s energy supply figure of 38.76, 10.90 exajoules came from oil, 2.53 exajoules were from natural gas, 22.97 exajoules came from coal, 0.60 exajoules came from nuclear energy, 0.56 exajoules came from hydro-electricity, and 1.77 exajoules were from renewables, the review showed.

The world’s total energy supply came in at 592.22 exajoules in 2024, according to the review, which outlined that this was a 1.78 percent year on year increase. From 2014 to 2024, total world energy supply increased by an average of 1.29 percent every year, the review pointed out.

“In 2024, oil, gas, coal, nuclear, hydro and renewable energy all registered increases, that is, all forms of energy saw an increase in demand, which last occurred in 2006,” the EI stated in its review.

“Renewables remain the fastest growing energy source with a 7.6 percent increase in energy supplied, followed by hydro at 4.5 percent, and nuclear at 2.9 percent,” it added.

“Of the fossil fuel fleet, natural gas saw the greatest increase at 2.8 percent, followed by coal at 1.2 percent, and oil only registered a minor increase of 0.8 percent, but oil is still the dominant energy source supplying 34 percent of total energy demand,” the EI continued.

In its review, the EI highlighted that its energy supply figures comprise commercially traded fuels, including modern renewables used to generate electricity. Energy from non-fossil fuel combustible electricity generation is accounted for on their input heat requirements and non-combustible renewables on the energy content of their gross electrical output, the EI stated in the review.

The EI notes in its review that it is the professional membership body for the world of energy. It adds in the publication that the statistical review of world energy analyzes data on world energy markets from the prior year and states that the review “has been providing timely, comprehensive, and objective data to the energy community since 1952”.

To contact the author, email andreas.exarheas@rigzone.com