"Twenty-five major oil companies, oil-producing nations and development institutions agreed on Friday to end the practice of routine flaring of natural gas by 2030 at thousands of oil production sites around the world.
Royal Dutch Shell, Statoil, Kuwait Oil Co, Russia, Norway and the Asian Development Bank are among those making the commitment, which was announced by the World Bank and United Nations at an event in Washington Friday. No US-based companies have signed on to the initiative.
Many producers regularly burn off natural gas as carbon dioxide into the atmosphere when producing oil for a variety of reasons, including lack of infrastructure to move the gas and low economic incentive to use the gas."
Amy Harder reports for the Wall Street Journal April 20, 2015.
SEE ALSO:
"Top Oil-Producing Nations, Companies Pledge To Curb Flaring, a Major Source of CO2" (ClimateWire)
"Big Oil Producers Sign Deal To End Gas Flaring"
Source: Wall St. Journal, 04/20/2015
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