Sign in Subscribe
Natural gas

World Bank Warns of Rising Gas Flaring Emissions from Oil and Gas Production

Strategic Insights

— 1 min read

The World Bank has sounded an alarm on the increase in gas flaring emissions from oil and gas production, calling for immediate action to curb this practice. A recent report reveals that gas flaring surged by 3 billion cubic meters to 151 billion cubic meters in 2024, the highest level since 2007. The increase highlights the urgent need for oil producers to accelerate efforts to end routine gas flaring and minimize pollution from oil and gas operations.

Key Takeaways:

  • Gas flaring increased by 3 billion cubic meters to 151 billion cubic meters in 2024, the highest level since 2007, according to the Global Gas Flaring Tracker.
  • The top nine flaring countries account for three-quarters of all flaring, but less than half of global oil production.
  • If captured and used, the gas flared in 2024 could have helped provide energy for some of the world's most energy-deprived people.
  • The World Bank's Global Flaring and Methane Reduction (GFMR) Partnership estimates that flaring released 389 million tonnes of CO2e in 2024, with a significant portion of unburned methane.
  • Countries that committed to the Zero Routine Flaring by 2030 (ZRF) initiative performed significantly better in reducing flaring than those that did not commit.
  • The World Bank's Global Gas Flaring Tracker is an annual tool for monitoring and understanding the state of flaring worldwide and the progress made towards achieving Zero Routine Flaring by 2030.
  • The GFMR provides catalytic grant funding, technical assistance, policy, and regulatory reform advisory services, capacity building, and institutional strengthening for methane and flaring reduction projects.

Statistics:

  • Gas flaring increased by 3 billion cubic meters to 151 billion cubic meters in 2024, the highest level since 2007.
  • Flaring released 389 million tonnes of CO2e in 2024, with a significant portion of unburned methane.
  • The top nine flaring countries account for 75% of all flaring, but less than 50% of global oil production.
  • The gas flared in 2024 could have provided energy for some of the world's most energy-deprived people.

Sources:

  • Global Gas Flaring Tracker (no date)
  • The World Bank's Global Flaring and Methane Reduction (GFMR) Partnership (no date)
  • The Payne Institute at the Colorado School of Mines (no date)

Read more