• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

World Bank Advocates Strong Policies, Action To End Gas Flaring

by Chika Izuora
4 weeks ago
in Business
world bank
Share on WhatsAppShare on FacebookShare on XTelegram

The World Bank has called on governments and operators to act now, end routine gas flaring and reduce methane emissions from oil and gas production.

Advertisement

The warning follows a report showing that gas flaring surged by 3 billion cubic meters (bcm) to 151 bcm in 2024, the highest level since 2007.

The latest Global Gas Flaring Tracker, an independent report of gas flaring worldwide, reveals that global gas flaring volumes rose to 151 bcm in 2024 from 148 bcm in 2023. This is the highest level since 2007. Flaring Intensity, the amount of flaring per barrel of oil produced, has remained unchanged in the last fifteen years.

The top nine flaring countries continue to account for three-quarters of all flaring, but less than half of global oil production. If captured and used, the gas flared could have helped provide energy for some of the world’s most energy-deprived people. The increase in gas flaring in 2024 highlights the need for oil producers to rapidly accelerate efforts to end routine flaring and minimise pollution from oil and gas operations.

The World Bank’s Global Flaring and Methane Reduction (GFMR) Partnership estimates that, in 2024, flaring released 389 million tonnes of CO2e, with a significant portion of unburnt methane. The report highlights that countries committed to the Zero Routine Flaring by 2030 (ZRF) initiative performed significantly better than countries that have not committed.

RELATED

PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

4 hours ago
JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance

Delayed Guidelines Drag Insurance Recapitalisation Process

20 hours ago
ADVERTISEMENT

However, while some countries have made progress reducing flaring, the overall increase in 2024 underscored the need for governments and operators to prioritise flaring reduction projects.
The World Bank’s annual Global Gas Flaring Tracker is a tool for monitoring and understanding the state of flaring worldwide and the progress made towards achieving Zero Routine Flaring by 2030.

The GFMR and the Payne Institute at the Colorado School of Mines have developed global gas flaring estimates based upon observations from a satellite launched in 2012 and operated by the U.S. National Oceanic and Atmospheric Administration. The advanced sensors of this satellite detect the heat emitted by gas flares as infrared emissions.

The GFMR is a multi-donor trust fund supported by governments, companies, and multilateral organisations committed to ending routine gas flaring and reducing methane emissions from the oil and gas sector. It provides catalytic grant funding, technical assistance, policy and regulatory reform advisory services, capacity building, and institutional strengthening for methane and flaring reduction projects.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: World Bank
SendShare10172Tweet6357Share
ADVERTISEMENT
Previous Post

Customs Introduce 4% Levy, Scrap 7% Collection, 1% CISS Fees At Seaports

Next Post

Lekki Port Moves 40,000TEUs Transhipment Cargoes Across West African Seaports

Chika Izuora

Chika Izuora

You May Like

PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability
Business

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

2025/08/26
JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance
Business

Delayed Guidelines Drag Insurance Recapitalisation Process

2025/08/25
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

2025/08/25
UBA Bank plc
Business

UBA Customers To Win N150m In Super Savers Promo

2025/08/25
Bureau Rate NIMASA High On Public Service Reforms
Business

NIMASA, Engineers Strengthen Collaboration For Blue Economy Growth

2025/08/25
Ojulari’s First 100 Days at NNPC Ltd: A Bold Start Anchored On Reform, Transparency, And Clean Energy
Business

After 3 Misses, NNPC Sets Nov For AKK Gas Pipeline Completion

2025/08/25
Leadership Conference advertisement

LATEST

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

Security Summit Seeks End To Killings In Benue

Gombe Gov Signs Bill Creating 13 LCDA

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

FG Issues Fresh Flood Alert To 9 Northern States

We’ll Do More To Secure Katsina – COAS

Parties Accept Mediation In Abia Land Dispute

PDP’s Zoning Of Presidential Ticket To South Sparks Comments

Oil Theft Nearly 100% Eliminated, Says NNPCL GCEO

FG Signs BASA Agreement For Direct Flights To Brazil

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.