Before 2017, carbon emissions generated by global energy consumption had barely increased for three consecutive years, which was mainly attributed to the slowdown of energy consumption growth due to the improvement of energy efficiency and the optimization of energy structure driven by the rapid growth of renewable energy and the continuous decline of coal consumption. In 2017, the global transition to low-carbon energy was somewhat thwarted.Both the growth in energy consumption and the carbon emissions generated by it rose as efficiency gains slowed and coal consumption rose for the first time in four years. We should not be overly surprised by this series of iterations.As we have emphasized in the past, in addition to long-term structural factors, the remarkable performance of the energy transition in recent years has benefited from some short-term cyclical factors, particularly in China.Therefore, there is a great possibility that the global energy low-carbon transition will occur repeatedly. The long-term factors driving the energy transition continued to play a role last year.Renewable energy is once again showing strong growth momentum, with solar installed capacity and power generation being the most prominent performers.Natural gas is the biggest source of energy consumption growth, driven by China's massive industrial and residential coal-to-gas projects. But there is still a lot of room for improvement.In this year's statistical yearbook, we added power data for the first time to reflect the power sector's need for breakthroughs.The power sector is the largest primary energy consumer, accounting for more than a third of energy-related carbon emissions.Despite policies that encourage a shift in the low-carbon direction of power generation laterally, the global power generation mix has not improved in the past 20 years.Surprisingly, coal's share of power generation in 2017 was the same as in 1998, while the share of non-fossil fuel power generation remained low, and the growth of renewable energy sources failed to offset the decline of nuclear power.Attempts to optimize the generation mix have been ongoing since the turn of the century, and the failures should be of concern and focus for future action. While highlighting these long-term trends, the statistical yearbook also explores short-term factors affecting the industry.In the oil market, despite solid growth in oil demand and Opec and other countriesProduction cuts have brought inventories back to normal, but rapid growth in tight oil in the us suggests that the recent strong gains in oil prices are unlikely to be sustained.At BP, we continue to firmly focus on efficiency, reliability and capital discipline. In the natural gas market, the global surge in liquefied natural gas supplies continues to bring resources to the globe, strengthening the linkages between regional natural gas markets.Increased resource availability and an accelerated global market will boost gas demand in the long run. We are in an industry with a very diverse cycle of operations and decisions.Day after day, year after year, we need to understand how this market changes and develops as new sources of supply and directions of utilization emerge.In the long term, we need to accurately assess the factors that affect the energy transition and ensure that we do our part in meeting the twin challenges of providing energy for sustained prosperity and reducing carbon emissions. These judgments and decisions need to be supported by timely and reliable data.This is the role of the BP energy statistical yearbook of the past 67 years.The data and analysis are crucial to BP's decision making.I hope it's also helpful in your work.