The World Bank on Wednesday said Nigeria and six other countries were responsible for two-thirds of global gas flaring.The World Bank stated, “Gas flaring satellite data from 2020 reveals that Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running, since the first satellite was launched in 2012.
“These seven countries produce 40 per cent of the world’s oil each year, but account for roughly two-thirds of global gas flaring. “This trend is indicative of ongoing, though differing, challenges facing these countries. For example, the United States has thousands of individual flare sites, difficult to connect to a market, while a few high flaring oil fields in East Siberia in the Russian Federation are extremely remote, lacking the infrastructure to capture and transport the associated gas.”
The Global Director for the Energy and Extractives Global Practice at the World Bank, Demetrios Papathanasiou, said, “In the wake of the COVID-19 pandemic, oil-dependent developing countries are feeling the pinch, with constrained revenues and budgets.
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