World Bank: Nigeria, US, Mexico Top List of Leaders

The new satellite data compiled by the World Bank’s Global Gas Flaring Reduction Partnership (GGFR), has revealed that the United States of America, Nigeria, and Mexico have accounted for most of the decline in global gas flaring in 2022.Information Guide Nigeria

According to THIS DAY, two other countries, Kazakhstan and Colombia, stand out for consistently reducing flaring volumes in the last seven years, the report indicated, according to the report.

The top nine flaring countries continue to be responsible for the vast majority of flaring, with Russia, Iraq, Iran, Algeria, Venezuela, the United States, Mexico, Libya, and Nigeria accounting for nearly three-quarters of flare volumes and under half of the global oil production.

THIS DAY  reports that World Bank’s GGFR data revealed that progress in reducing gas flaring resumed in 2022, with flared gas worldwide falling by five billion cubic meters (bcm) to 139 bcm, its lowest level since 2010.

The World Bank Vice President for Infrastructure, Guangzhe Chen, said: “After a decade of stalled progress, global gas flaring volumes fell in 2022 by around three percent, which is a welcome drop, especially during a time of concern about energy security for many countries.JAMB Result

“We continue to encourage all oil producers to seize opportunities to end this polluting and wasteful practice.”
The report stated that Nigeria, Mexico, and the United States accounted for most of the decline in global gas flaring in 2022, while Kazakhstan and Colombia— stand out for consistently reducing flaring volumes in the last seven years.

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“In addition to the overall reduction in flare volume, global flaring intensity—the amount of flaring per barrel of oil produced— also fell to its lowest level since satellite data began, due to the five percent increase in oil production in 2022.

“This indicates a gradual and sustained decoupling of oil production from flaring.”JAMB Portal

The report observed that despite this progress, the top nine flaring countries are responsible for the vast majority of flaring, with Russia, Iraq, Iran, Algeria, Venezuela, the United States, Mexico, Libya, and Nigeria accounting for nearly three-quarters of flare volumes and under half of the global oil production.”

The report also disclosed that methane emissions due to flaring could be significantly higher than previously estimated. For example, if the average flare is just five percentage points less efficient at combusting methane, then globally, the amount of methane released would be three times higher than currently estimated.

As reported by THIS DAY, the World Bank’s GGFR Programme Manager, Zubin Bamji, “We’re concerned by the amount of methane emitted through flaring, particularly from flares that are not working properly.NYSC Portal

“Methane is a far more potent greenhouse gas than carbon dioxide in the short term. So we need to understand this more and are ramping up our efforts to help developing countries tackle methane emissions.”

(This day)

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