• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Russia, US, Nigeria, 5 other countries responsible for 75% of global gas flaring

1 year ago
in Business, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
82
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Russia, US, Nigeria, 5 other countries responsible for 75% of global gas flaring

Nigeria is among the top nine gas-flaring countries in 2023, according to the latest Global Gas Flaring Tracker Report by the World Bank.

Alongside Nigeria, the Russian Federation, the Islamic Republic of Iran, Iraq, the United States, the Bolivarian Republic of Venezuela, Algeria, and Libya contribute to 75% of the world’s flared gas. Over 60 countries comprise the remaining 25 per cent of global gas flare volumes.

According to the report, these countries produce 46% of the world’s oil, yet their gas-flaring practices remain a significant environmental concern.

In 2023, global gas flaring at upstream oil and gas facilities increased by 9 billion cubic meters (bcm), rising from 139 bcm in 2022 to 148 bcm in 2023, marking a 7 per cent increase.

Meanwhile, oil production rose by just 1 per cent, resulting in a 5 per cent increase in the global average flaring intensity, which is the amount of gas flared per barrel of oil produced.

The market value of gas flared in 2023

At the current price of gas, the potential market value of the overall amount of gas flared in 2023 could have been between $9 billion and $48 billion. Eliminating gas flaring would avert at least 381 million tonnes of carbon dioxide equivalent emissions being released into the atmosphere each year

Last year’s report shared the considerable success in countries like the United States and Angola, and this year, sustained improvements in both Algeria and Venezuela were acknowledged.

In Algeria, flaring was reduced by 5 per cent and flaring intensity decreased by 3 per cent. However, the increases in gas flaring in 2023 have far outweighed these improvements.

The World Bank called for an urgent need to mobilize and renew political will and leadership, coupled with industry investments and improved practices across the world, to take critical action on several fronts.

It noted that substantial reductions in gas flaring and flaring intensity are achievable through effective partnerships and the creation of solutions to monetize associated gas.

Source: businessinsiderafrica
Via: norvanreports
Tags: 5 other countries responsible for 75% of global gas flaringglobal gas flaringNigeriaRussiaUS
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.