Oil Firms Intensified Gas Flaring to the Highest Level in Five Years in 2023

Oil companies globally flared more natural gas last year, reversing reductions from the previous two years and sending gas flaring volumes to the highest in five years, the World Bank’s annual Global Gas Flaring Tracker Report showed on Thursday. The amount of gas flared worldwide rose by nine billion cubic meters (bcm) to 148 bcm last year, its highest level since 2019. The increase resulted in an additional 23 million tons of carbon dioxide (CO2) equivalent emissions, an amount similar to adding about five million cars to the…