7 Countries Flare 65% of Global Gas Associated with Extracting Oil, Report Finds

Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running.
Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running.
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7 Countries Flare 65% of Global Gas Associated with Extracting Oil, Report Finds

Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running.
Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running.

Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running, since the first satellite was launched in 2012, stated a recent report by the World Bank's Global Gas Flaring Reduction Partnership (GGFR).

These seven countries produce 40 percent of the world’s oil each year, but account for roughly two-thirds (65 percent) of global gas flaring, it noted.

This trend is indicative of ongoing, though differing, challenges facing these countries.

For example, the United States has thousands of individual flare sites, difficult to connect to a market, while a few high flaring oil fields in East Siberia in the Russian Federation are extremely remote, lacking the infrastructure to capture and transport the associated gas.

Gas flaring, the burning of natural gas associated with oil extraction, takes place due to a range of issues, from market and economic constraints, to a lack of appropriate regulation and political will.

The practice results in a range of pollutants released into the atmosphere, including carbon dioxide, methane and black carbon (soot).

“The methane emissions from gas flaring contribute significantly to global warming in short to medium term because methane is over 80 times more potent than carbon dioxide on a 20-year basis,” the report said.

The World Bank’s 2020 Global Gas Flaring Tracker, a leading global and independent indicator of gas flaring, found that from 2019 to 2020, oil production declined by eight percent (from 82 million barrels per day (b/d) in 2019 to 76 million b/d in 2020).

It further pointed out that global gas flaring reduced by five percent (from 150 billion cubic meters (bcm) in 2019 to 142 bcm in 2020).

Nonetheless, the world still flared enough gas to power sub-Saharan Africa.

According to the report, the United States accounted for 70 percent of the global decline, with gas flaring falling by 32 percent from 2019 to 2020, due to an eight percent drop in oil production, combined with new infrastructure to use gas that would otherwise be flared.



Peru’s FM: Negotiations Underway with Saudi Arabia to Sign Bilateral Agreements by Year-End

Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)
Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)
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Peru’s FM: Negotiations Underway with Saudi Arabia to Sign Bilateral Agreements by Year-End

Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)
Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)

Peru’s Foreign Minister, Elmer Schialer Salcedo, revealed during his official visit to Riyadh that negotiations are progressing with Saudi Arabia to conclude several bilateral agreements before the end of 2025.

The agreements include among others a general cooperation accord and a civil aviation agreement.

In an interview with Asharq Al-Awsat, Salcedo noted that his visit is part of a broader Gulf tour aimed at paving the way for a multilateral agreement with the Gulf Cooperation Council (GCC).

The Peruvian foreign minister emphasized that while relations between Peru and Saudi Arabia are strong on political, diplomatic, cultural, and tourism fronts, there is significant untapped potential in the commercial and economic realms. He expressed his intent to further deepen these ties by encouraging investment and trade between the public and private sectors of both countries.

The year 2026 will mark the 40th anniversary of the establishment of diplomatic relations between Peru and Saudi Arabia, a milestone the Peruvian minister said would underscore the importance of reinforcing the partnership.

Peru and Saudi Arabia maintain close coordination in political and diplomatic matters, as well as bilateral business, tourism, and cultural engagement.

Salcedo told Asharq Al-Awsat that he hopes to expand this cooperation into energy, investment, mining, technology, and digital governance. He highlighted sectors such as oil, gas, renewable energy, telecommunications, and water desalination as areas with strong investment potential. He also reaffirmed Peru’s commitment to providing equal treatment to foreign investors, a message aimed at encouraging greater Saudi involvement in the Peruvian economy.

On the private sector level, Salcedo stressed the need for direct links between Peruvian and Saudi businesses, noting that many Peruvian products currently reach the Saudi market through third countries. Eliminating intermediaries would reduce costs and create more competitive opportunities for producers and consumers in both countries.

The minister also commended Saudi Arabia’s recent reforms to its investment laws, particularly the provisions allowing full foreign ownership, and said they present important opportunities for Peruvian businesses.

Highlighting growing economic ties, Salcedo pointed to Saudi Aramco’s recent expansion into South America.

In March 2025, Aramco acquired Primax, a major fuel distributor operating in Peru, Colombia, and Ecuador, in a deal valued at $3.5 billion.

He also noted Aramco’s increased indirect stake of 17.2% in the Peru LNG project, further integrating the company into South America’s liquefied natural gas market.

Salcedo pointed to the strategic role of Peru’s newly built Chancay Port, which he said would revolutionize logistics between South America and Asia. With automated facilities and a projected total investment of $3.6 billion across three phases, the port is expected to enhance Peru’s connectivity with Asian markets and improve regional trade efficiency.

Looking ahead, the official said Peru could contribute significantly to Saudi Arabia’s Vision 2030 goals. He highlighted his country’s rich mineral resources, including copper, lithium, and rare earth elements, as key assets for Saudi investment.