Gas Flaring Is Back With a Vengeance

Within the last few years, a few ground-breaking reports have shown that the level of gas flaring from oil operations worldwide has been far higher than companies had led us to believe. This led several oil majors to make ambitious pledges for flare reduction. While some cut flaring practices significantly, others found ways to reuse waste gas for activities like cryptocurrency mining. However, it seems like old habits die hard, as we saw the highest level of gas flaring last year since 2019, suggesting that the practice is far from coming to an…