Oil producing countries could lose more than $80 billion dollars a year due to global gas flaring, according to GlobalData. Oil producing countries could lose more than $80 billion dollars a year due to global gas flaring. That’s according to GlobalData, whose recent report outlines that countries could make up to $82 billion per annum if they utilized this gas instead of flaring it. The company noted that many countries persist with the activity, even though technological solutions exist to avoid gas flaring. This includes developed countries such as the United States and Russia, GlobalData highlighted. Besides lost revenue, it’s also an environmental issue as gas flaring is one of the major contributors to CO2 emissions, GlobalData outlined. “It would do many countries, especially in Europe and Asia where natural gas prices are setting all-time records, a lot of good if oil and gas operators found the strategy to […]