Flaring remains rife among many of the world’s largest hydrocarbon producers despite its hefty economic and environmental costs. The World Bank says 147bcm of gas was flared in 2015, up from 145bcm in 2014. 2016 is likely to see a further rise. Russia remains the world’s largest flaring country with 21.2bcm, followed by Iraq with 16.2bcm, Iran with 12.1bcm, the US with 11.9bcm and Venezuela with 9.3bcm.
“The flaring increase is mainly attributed to an overall growth in oil production, particularly in Iraq and the US,” the bank says. Iraq’s flaring increased by 2.9bcm or 22.1% during 2013-15, while US flaring rose by 2.7bcm or 29%. Recent increases are “reversing a trend of flaring reduction.” (CONTINUED - 643 WORDS)