The world still has enough proven oil reserves to provide 40 years of consumption at current rates, in spite of a small fall last year, according to the BP Statistical Review of World Energy.

The BP publication, one of the industry's standard reference sources, also shows that global energy use has grown much faster and created more carbon dioxide emissions in the past five years than in the second half of the 1990s, despite the steep rise in the prices of oil and natural gas.