The Department of Petroleum Resources (DPR) has recounted how Nigeria, the 9th largest gas producing nation in the world lost $850 million to gas flare in 2015.
Mrs. Pat Maseli, The Deputy Director of this Department gave the
shocking revelation at the 10th Annual Sub-Saharan Africa Oil and Gas
Conference in Houston Texas at the weekend. She explained that the development equally led to a loss of 3500 mega
watts of electricity generation and about $400 million carbon credit
value.On the other hand, she stated that 55 million Barrels of Oil Equivalent
(BOE) was lost and 25 million tons of carbon dioxide emitted. Although,
she said the country is recording decline, but the scale of gas flaring
is still worrisome.