Ventures Africa: Chevron To Reduce Gas Flaring By 98% In 2015

Oil multinational, Chevron Nigeria Limited (CNL) and its partner, Nigerian National Petroleum Corporation (NNPC), have revealed that ongoing efforts to reduce gas flaring are yielding significant dividends. Chevron is now targeting a 98 percent flare reduction in 2015.

According to US-based oil company, over $7 billion has been invested in reducing gas flaring in its Nigerian production field, a move that has seen it curb the harmful practice by 60 percent in the last five years.

Chairman and Managing Director of Chevron Nigeria, Mr Clay Neff, said gas flaring in the oil-rich Niger Delta region has been an impediment to socio-economic development in the country.It is also costing the company billions of dollars in potential revenue.

“The eradication of gas flaring and other environmental hazards would reduce the devastating effects of climate change, currently ravaging the socio-economic status and health of the world,” Neff said.
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