In 2023 Oil Companies Burned 148 Billion Cubic Meters of Gas During Oil Production
Oil companies around the world burned the most APG in five years in 2023, according to a World Bank report.
We are talking about 148 billion cubic meters, which is 7% more than in 2022, despite the fact that crude oil production increased by only 1% last year.
Increases in flaring volumes more than offset reductions achieved in 2021 and 2022, the World Bank’s Global Gas Flaring Tracker report found. Eliminating this practice would save at least 381 million tons of carbon dioxide equivalent.
The report said Algeria and Venezuela had reduced flaring, but those gains were reversed by Iran, Russia, the United States and Libya, among others, Reuters writes.
At the same time, let us recall that in Russia there is a regulation limiting the flaring of APG to 5% of the total volume of its production. Shale production in the United States does not adhere to any special standards.
