Report: Efforts Must Be Intensified to Reduce Gas Flaring

World Bank has released a new report entitled, "2022 Global Gas Flaring Tracker," according to IDSC. 

The new report finds that reductions in both absolute flare volumes and flaring intensity have stalled in the last decade, despite strong early progress, IDSC noted.

According to the latest report, there are 10 countries that account for 3/4 of gas flaring activities globally, and 50% of global oil production in 2021. They are: Russia, Iraq, Iran, America, Venezuela, Algeria, Nigeria, Mexico, Libya and China.

It was noted that approximately 144 bcm of gas was needlessly burnt in flares at upstream oil and gas facilities across the globe in 2021, and 400 million tons of carbon dioxide (CO2) equivalent emissions in 2021, resulting from gas flaring.