Brief
The World Bank’s 2022 Global Gas Flaring Tracker places Venezuela among seven countries that remained in the global top 10 for flaring over the previous decade. In 2021, the 10 largest flaring nations together generated 75% of worldwide flaring while accounting for half of global oil production. Venezuela shares the persistent group with Russia, Iraq, Iran, the United States, Algeria and Nigeria; Mexico, Libya and China joined after significant recent increases.
Venezuela’s decade-long presence among the largest flaring countries highlights a persistent operational and infrastructure weakness in its oil industry. Any production recovery may therefore require investment not only in extraction, but also in gas capture and handling to improve efficiency and limit environmental exposure.
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Oil And Gas · World Bank — Venezuela News
May 5, 2022
The next World Bank tracker should show whether Venezuela remains in the global top 10 and whether its flaring level rises or falls relative to oil production and the other persistent high-flaring countries.