Latest news with #ZRF
Zawya
21-07-2025
- Business
- Zawya
Global gas flaring surged for second year in a row, wasting about $63bln in lost energy: WB
WASHINGTON: Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and access. Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year and the highest level in almost two decades. An estimated 389 million tonnes of CO₂ equivalent—46 million of that from unburnt methane, one of the most potent greenhouse gases—was needlessly emitted. While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring, but less than half of global oil production. Satellite data compiled and analysed in the World Bank's annual Global Gas Flaring Tracker shows that flaring intensity—the amount of gas flared per barrel of oil produced—has remained stubbornly high for the last 15 years. 'When more than a billion people still don't have access to reliable energy and numerous countries are seeking more sources of energy to meet higher demand, it's very frustrating to see this natural resource wasted,' said Demetrios Papathanasiou, World Bank Global Director for Energy and Extractives. The report highlights that countries committed to the Zero Routine Flaring by 2030 (ZRF) initiative have performed significantly better than countries that have not made the commitment. Since 2012, countries that endorsed ZRF achieved an average 12% reduction in flaring intensity, whereas those that did not saw a 25% increase. To accelerate progress, the World Bank's Global Flaring and Methane Reduction (GFMR) Partnership is supporting methane and flaring reduction projects through catalytic grants, technical assistance, policy and regulatory reform advisory services, capacity building, and institutional strengthening. 'Governments and operators must make flaring reduction a priority, or this practice will persist. The solutions exist. With effective policies we can create favourable conditions that incentivize flaring reduction projects and lead to sustainable, scalable action. We should turn this wasted gas into an engine for economic development.' said Zubin Bamji, World Bank Manager for the Global Flaring & Methane Reduction (GFMR) Partnership.
Gulf Today
20-07-2025
- Business
- Gulf Today
Global gas flaring surged for second year in row, wasting about $63 billion in lost energy: WB
Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and access. Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year and the highest level in almost two decades. An estimated 389 million tonnes of CO₂ equivalent—46 million of that from unburnt methane, one of the most potent greenhouse gases—was needlessly emitted. While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring, but less than half of global oil production. Satellite data compiled and analysed in the World Bank's annual Global Gas Flaring Tracker shows that flaring intensity—the amount of gas flared per barrel of oil produced—has remained stubbornly high for the last 15 years. 'When more than a billion people still don't have access to reliable energy and numerous countries are seeking more sources of energy to meet higher demand, it's very frustrating to see this natural resource wasted,' said Demetrios Papathanasiou, World Bank Global Director for Energy and Extractives. The report highlights that countries committed to the Zero Routine Flaring by 2030 (ZRF) initiative have performed significantly better than countries that have not made the commitment. Since 2012, countries that endorsed ZRF achieved an average 12% reduction in flaring intensity, whereas those that did not saw a 25% increase. To accelerate progress, the World Bank's Global Flaring and Methane Reduction (GFMR) Partnership is supporting methane and flaring reduction projects through catalytic grants, technical assistance, policy and regulatory reform advisory services, capacity building, and institutional strengthening. 'Governments and operators must make flaring reduction a priority, or this practice will persist. The solutions exist. With effective policies we can create favourable conditions that incentivize flaring reduction projects and lead to sustainable, scalable action. We should turn this wasted gas into an engine for economic development.' said Zubin Bamji, World Bank Manager for the Global Flaring & Methane Reduction (GFMR) Partnership. WAM
Al Etihad
20-07-2025
- Business
- Al Etihad
Global gas flaring surged for second year in a row, wasting about $63 billion in lost energy: World Bank
20 July 2025 10:02 ABU DHABI (ALETIHAD)Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year and the highest level in almost two estimated 389 million tonnes of CO₂ equivalent—46 million of that from unburnt methane, one of the most potent greenhouse gases—was needlessly some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring, but less than half of global oil data compiled and analyaed in the World Bank's annual Global Gas Flaring Tracker shows that flaring intensity—the amount of gas flared per barrel of oil produced—has remained stubbornly high for the last 15 years.'When more than a billion people still don't have access to reliable energy and numerous countries are seeking more sources of energy to meet higher demand, it's very frustrating to see this natural resource wasted,' said Demetrios Papathanasiou, World Bank Global Director for Energy and report highlights that countries committed to the Zero Routine Flaring by 2030 (ZRF) initiative have performed significantly better than countries that have not made the commitment. Since 2012, countries that endorsed ZRF achieved an average 12% reduction in flaring intensity, whereas those that did not saw a 25% accelerate progress, the World Bank's Global Flaring and Methane Reduction (GFMR) Partnership is supporting methane and flaring reduction projects through catalytic grants, technical assistance, policy and regulatory reform advisory services, capacity building, and institutional strengthening. For example, in Uzbekistan, GFMR allocated $11 million to identify and fix methane leaks in the gas transportation network, cutting methane emissions by 9,000 tonnes annually, and potentially reaching up to 100,000 tonnes each year. Source: Aletihad - Abu Dhabi
New Indian Express
22-06-2025
- New Indian Express
Hold back the river
MIZORAM : Rochamliana — founder secretary of Mizoram's leading research-based public policy think tank Zoram Research Foundation (ZRF) — couldn't contain his excitement when UNESCO's Delhi office approached him in November 2007, asking him to share photos of natural springs, ponds, rivers and waterholes found in and around the state capital Aizawl for its magazine. As sophisticated mobile phones were few and far between back then, Rochamliana and his friends from the think tank picked up a Nikon D50 digital SLR and made a beeline for the banks of the Chite Lui — the 20-km long river that originates at the Bawngkawn range in north Aizawl and joins the Tuirial River at the city's southern end. But the group froze in shock when they finally reached the river. Banks strewn with garbage, trash floating in the water, depleted natural vegetation and soil erosion due to deforestation. It was far from the picture-perfect scene they were hoping to capture. Rochamliana, who is also a teacher at the Government Aizawl College and a member secretary of the Mizoram Institute of Advanced Studies, recalls, 'Far before that, there was a time when the banks of this river were rich in flora and fauna. Those days, the farmers used to depend on this river for cultivation. And residents of Aizawl would often visit the riverbanks for picnics. It was quite a scenic setting back in the day. I would hang out there with my friends. We had set up benches there to relax.' Seeing the sorry state of affairs prompted him and other members of the ZRF to take a pledge to revive the river. Over time, government agencies, NGOs and the church joined the Save Chite Lui Movement. Two decades on, the river is 'safe', thanks to mass awareness. Discussing the journey of the state capital and what went wrong, he muses, 'Aizawl is a growing city that remains unplanned. There has been a steady migration of people from rural areas, resulting in its expansion. Many houses, shops and other establishments came up on the river's space.'
