The global oil & gas industry experienced a 43% drop in company filings mentions of gas flaring in Q2 2023 compared with the previous quarter, with the highest share accounted for by Saudi Arabian Oil with 2600% year-on-year increase, according to GlobalData’s analysis of over 90 oil & gas company filings. GlobalData’s Top 20 Oil and Gas Themes – Thematic Intelligence report identifies the impact of key themes such as carbon emissions and gas flaring on the oil & gas sector, it includes a series of predictions and the winners and losers in each of them. Buy the report here.
Notably, gas flaring was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of 3d printing and electric vehicles, according to GlobalData.
Of the top leading companies in the oil & gas industry, Saudi Arabian Oil had the greatest increase in references for gas flaring in Q2 2023, compared with the previous quarter. GlobalData identified 27 gas flaring-related sentences in the company's filings - 2% of all sentences - and an increase of 2600% in Q2 2023 compared with Q2 2022. Novatek’s mentions of gas flaring rose by 12% to 19 and TotalEnergies’s by 59% to 18 and Petroleo Brasileiro’s by 14% to 16 and Chevron’s by 45% to 6.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for gas flaring in Q2 2023 was 112.
For further understanding of GlobalData's Top 20 Oil and Gas Themes – 2022 – Thematic Research buy the report here.