The oil and gas industry can meet the world’s consumption demand of around 2.5 trillion barrels of oil and gas in 2050 using current upstream technology, according to BP’s Technology Outlook report. The oil and gas industry will be able to meet the world’s consumption demand of around 2.5 trillion barrels of oil and gas in 2050 using current upstream technology, according to BP’s Technology Outlook report, which was launched at the energy firm’s London office Monday. BP’s report shows that, by using the best available technologies in the sector today for discovered oil and gas, around 4.8 trillion barrels of oil and gas equivalent would be available around the world. Furthermore, if exploration and new technologies are factored in, this number has the potential to grow to around 7.5 trillion barrels of oil and gas equivalent, which is likely to be roughly triple the world’s demand by 2050. […]