Here’s a round-up of the most significant news in the last week:
- We published our paper “How the EU’s CBAM will impact energy imports from countries that flare gas” which examines the embedded emissions in oil and gas. There’s also a shorter “op-ed” piece here. Key insights are (a) the EU’s “embedded emissions” from flaring are 40% higher than the global average, and (b) a CBAM could levy EUR 3 billion per year on producing countries. That should crystalise action!
- Capterio has an article published in the online edition of Natural Gas World’s “Gas in Transition”, called “how can we solve gas flaring and accelerate the energy transition?” which this issue focusses on methane. We outline all the facts and offer 3 practical recommendations.
- We’re hiring! We are looking for a Head of Geoanalytics – see job description here.
- Excellent to see the OGCI’s new strategy paper recommits to net zero for operations (scope 1 and scope 2) by 2030, but most importantly, that the OGCI member companies commit to the same standards for their non-operated assets. This implies (although it is not direclty stated) a clear intent for OGCI members to elimenate flaring at non-operated assets – which is a major unknown (as it is not reported) – but where FlareIntel can play a key role.
- Baker Hughes announces a significant flare capture project in Iraq at the Nasiriyah and al-Gharraf fields. FlareIntel Pro tracks these flares on a daily basis … and interestingly, the location happens to be very close to the source of the major methane leak identified by Bloomberg at this article.
- Crescent Petroleum this week announced that it has seen a 80% reduction in gas flaring, down to 0.12% of all gas production. This is an impressive achievement that we should congratulate.