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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). It will see production rise across all regions of the world, with the exception of Europe, where it will decline by 70% by 2050.

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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A newly released GE study — Flare Gas Reduction: Recent Global Trends and Policy Considerations —estimates that 5% of the world’s natural gas production is wasted by burning or “flaring” unused gas each year, despite some progress on the flaring issue. Gas-flaring countries and trends. Click to enlarge.

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Glencore to pay >$1.1B to resolve government’s investigation into bribery and commodity and price manipulation

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Glencore International pled guilty in the Southern District of New York to violations of the Foreign Corrupt Practices Act (FCPA). For example, in Nigeria, Glencore and Glencore’s UK subsidiaries entered into multiple agreements to purchase crude oil and refined petroleum products from Nigeria’s state-owned and state-controlled oil company.