Latest News
US, Nigeria among top countries flaring gas
News Highlight
Nigeria achieved significant progress over the past 15 years, cutting its gas flaring by 70 per cent to just 7 bcm in 2020.
Seven countries, namely the United States, Russia, Iraq, Iran, Algeria, Venezuela and Nigeria, were the top countries flaring associated gas in 2020, for nine years running, according to World Bank’s 2020 Global Gas Flaring Tracker.
The seven countries produce approximately 40 per cent of the world’s oil each year. They also account for 65 per cent of global gas flaring.
According to the report, oil production declined by 8 per cent, from 82 million barrels per day (b/d) in 2019 to 76 million b/d in 2020, while global gas flaring reduced by 5 per cent from 150 billion cubic metres (bcm) to 142 bcm in the period.
Gas flaring, which the report defines as the burning of natural gas associated with oil extraction, is driven by market and economic constraints, and lack of appropriate regulation and political will to end it. The practice results in a range of pollutants released into the atmosphere, including carbon dioxide, methane and black carbon (soot).
According to the report, Nigeria achieved significant progress over the past 15 years, cutting its gas flaring by 70 per cent to just 7 bcm in 2020.
Related News
Latest Blogs
- What Ould Tah’s tenure at BADEA reveals about his AfDB candidacy
- Implementation strategy crucial for the success of 12-4 education policy
- A senator’s suspension threatens the right of representation
- Tinubu’s promising revolution in infrastructure development
- Has Tinubu’s economic reform started working?
Most Popular News
- Artificial intelligence can help to reduce youth unemployment in Africa – ...
- Nigeria records $6.83 billion balance of payments surplus in 2024
- Tinubu appoints new Board Chair, Group CEO for NNPC Limited
- Tariffs stir inflation fears in US but offer targeted industry gains ...
- Soaring civil unrest worries companies and insurers, says Allianz
- CBN net reserve hits $23.1 billion, the highest in three years