November 28: global gas flaring news
Last week was pretty turbulent. Biden coordinated an international non-OPEC release of strategic oil reserves, and then “black Friday” arrived with a new strain of Coronavirus leading to a sharp oil price fall. Plus some new big deals in Libya were announced.
- Capterio’s CEO, Mark Davis, was a co-panelist on a panel hosted by the Society of Petroleum Engineers International (see photo below) discussing innovation, technology and culture associated with low-emission drilling. Leading companies are lowering emissions today with a wide range of solutions ranging from greater energy efficiency, electrification/fuel-switching, reduced flaring by design, low-carbon cement and lower carbon drilling fluids. Collaboration and integration between all players across the supply chain is key, supported by remote sensing including satellite detection of flaring from FlareIntel Pro.
- Iraq’s general director of the oil ministry’s technical directorate is “optimistic” to end flaring by 2027, according to an article by SP Global last week. We do however note that the country has previously committed to ending flaring in 2025 (see our news on 1st November).
- Great to see another deal by TotalEnergies around gas flaring, this time in Libya where the company has committed to “reducing flaring in oil fields in order to supply gas to power plants” and support “Libya’s comeback”. See also our news on 10th September covering their deal in Iraq.
- You might like to read a thoughtful piece by the Payne Institute for public policy on flaring in Iraq, authored by Peri-Khan Aqrawi-Whitcomb.