The latest report that Nigeria lost $16 trillion to gas flaring in the 10 years to 2022 highlights the prevailing national culture of waste, andd the institutional failures that hamper the country’s development. In its 72nd edition of the ‘Statistical Review of World Energy 2023,’ the Energy Institute detailed how Africa’s largest economy lost the trillions due to natural gas flaring by oil producing companies between 2012 and 2022 despite a national programme decreeing an end to the practice. President Bola Tinubu should decisively stop the ludicrous enterprise on his watch.
Between January 2022 and August 2023, the Nigerian government suffered a significant financial loss of about N843 billion due to the burning of natural gas, as revealed by data from the National Oil Spill Detection and Response Agency (NOSDRA). In its latest report on gas flaring, NOSDRA disclosed that oil and gas companies operating in […]
arge swathes of the global oil industry will pledge to eliminate methane emissions and gas flaring by the end of the decade, the president of the COP28 climate summit said.
The Federal Government, on Wednesday, announced that it issued letters of award to 42 firms for the 2022 Nigerian Gas Flare Commercialisation Programme.
DESPITE Nigeria’s dwindling revenue, oil and gas companies operating in the country flared 12.7 million standard cubic feet (mscf) of gas in July 2023, according to the latest data from the National Oil Spill Detection and Response Agency (NOSDRA).
Oil and gas companies in Nigeria flared 138.7 million metric standard cubic feet of gas in the first half (H1) of 2023, the Nigerian Oil Spill Monitor, an arm of the Nigerian Oil Spill Detection and Response Agency, (NOSDRA) has said.
Nigeria currently accounts for 33 per cent of the total gas reserves in Africa, the Federal Government said on Monday.
Oil and gas companies in Nigeria have flared gas worth $485.3 million in the first six months of 2023, a development hinged largely on improved crude oil production.
It’s been 13 years since Ghana discovered crude oil in commercial quantities but the country continues to experience gas flaring activities by crude oil producing firms.
The Chief Executive Officer (CEO) of Africa Center for Energy Policy (ACEP), Benjamin Boakye, says there’s nothing wrong with companies in the oil and gas industry flaring gas if there’s no basis and capacity to keep such resources.