The bank said this on Wednesday in Washington D. C. in its gas flaring satellite data for 2020, compiled by World Bank’s Global Gas Flaring Reduction Partnership (GGFR). It said that the seven countries produced 40 per cent of the world’s oil each year, but accounted for roughly two-thirds (65 per cent) of global gas flaring. According to him, gas flaring reduction projects require significant investment and takes several years to produce results. The World Bank’s GGFR is a trust fund and partnership of governments, oil companies and multilateral organisations working to end routine gas flaring at oil production sites around the world. The advanced sensors of these satellites detected the heat emitted by gas flares as infrared emissions at global upstream oil and gas facilities.

Source: The Guardian April 28, 2021 20:03 UTC