January 10th: global gas flaring news

Here’s a round-up of some of the most important news so far this year:

Capterio

• Our New Year newsletter is out. We’ve seen a surge in sign ups to our FlareIntel Pro tool and our FlareIntel Free too.

Industry

• India’s regulator calls out operator ONGC for excessive flaring at its operations on the Mumbai High. Our analysis using FlareIntel Pro concurs.
  
• Rosneft agrees a net zero target, and to deliver zero routine flaring by 2030. This is a major and important step forward.
  
• The EU labels certain gas as “green”, in major new taxonomy. We think this should be time-limited, and if it helps to mobilse capital to flare capture projects, this is very helpful. Flare capture projects are some of the “quick win” options that decarbonisation and create value.
  
• Apache finally signs a major new agreement across its upstream operations in Egypt, which simplifies the previously-complex fiscal terms for multiple PSCs. We think this should unlock action now to reduce gas flaring, as Apache accounts is the largest flarer in country.
  
• Iraq’s flaring is featured by one of the country’s most famous comedians. Interesting development!