The FT published our letter outlining how we must not let the oil price crash drive up flaring worldwide. The industry must continue to invest in flare reduction to create value, reduce emissions and improve reputations. Here is the letter in full. Letter: Flare capture projects will help lower emissions It is positive news for […]
Gas flaring creates economic and environmental waste. Even though many companies and countries have committed to reducing flaring (and for many, this forms a key part of their “net zero” ambitions), the global numbers show little progress over the last decade. Lack of progress on flare reduction is, in part, due to a mismatch of […]
COVID is rightly today’s priority. Post-COVID, the energy transition must still be achieved and tackling flaring is a key lever
The global COVID pandemic and the oil price drop has driven an unprecedented challenge for the oil and gas industry. Whilst the crisis will inevitably change our way of life, some fundamentals – including the energy transition – will remain true in a post-COVID world. In today’s uncertain and difficult world, gas flaring capture presents a tremendous opportunity.
Flaring is an issue which must be solved both for Europe’s domestic oil and gas production and for its external supply sources
As Egypt’s flagship Petroleum Conference has just finished it’s perhaps worth reflecting on the five themes we heard: 1) There is a real sense of excitement in the energy sector within the region. As His Excellency the Minister of Petroleum Tarek El-Molla outlined, Egypt has seen significant recent exploration success, as reflected in the record-breaking […]
Egypt has an opportunity to increase export revenues by $600 million p.a. and further decarbonise the sector by up to 90 million tonnes p.a. by tackling flaring venting and leaking
It’s interesting that exploration success is still announced with images of flaring – some companies think that this might challenge their sustainability credentials Sharjah National Oil Corporation (SNOC) announced the discovery of natural gas and condensate onshore at the Mahani field in Sharjah, distributing a flaring photo in this Gulf News article Capterio perspective: Whilst […]
Flaring is taking centre stage in the 2020 Texas Railroad Commissioner election campaign and the issue is gaining more attention than ever according to World Oil Capterio perspective: From the data, we see flaring in the Permian continues to increase, reaching record highs in 2019. It is not a straightforward problem to solve, even with […]
Risk-free, low cost and low emission barrels: why flaring is the oil and gas industry’s $27 billion opportunity between the trees
Oil and companies invest an estimated $550 billion each year to explore and develop new oil and gas resources to replace the c. 60 billion oil-equivalent barrels (i.e. oil + gas) consumed each year.
Flare capture represents an opportunity to add $27 billion-worth risk-free, low-cost new barrels.
It reduces the wastage of natural gas and CO2-equivalent emissions.
By tackling flaring, oil-producing countries can meet a substantial portion of their Paris Climate Agreement commitments
Whilst latest UN climate discussions (COP25) closed with limited agreement, we think that flare monetisation (and addressing venting and leaking) is one of the decarbonisation levers that everyone can agree on.