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Economic Investigation

In: Business and Management

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Dr. Stella Madueme. / International Journal of Engineering Science and Technology Vol. 2(4), 2010, 610-617

Gas Flaring activities of major oil companies in Nigeria: An economic investigation.
Dr. Stella Madueme
Department of Economics University of Nigeria, Nsukka Enugu State, Nigeria Abstract This paper reveals the general trends in gas flaring in seven major oil companies in Nigeria from 2000 to 2008. It reveals which company’s flaring activities constitutes the greatest hazard. Data was collected through archival sources. Gas flaring activities was highest between 2000 to2002 but presently only about a quarter of all gas produced is flared. TEXACO and PAN OCEAN has been flaring more than 95% of its gas from 2000 to 2008. SHELL was discovered to maintain the best record in terms of the fact that its flaring activities has been decreasing consistently over the years. Some of the recommendations are planned targeted policies towards gas flaring reduction, increased government taxation on gas flaring and governmental reward packages to companies with lowest flaring activities are also necessitated. Keywords: Oil company. Gas. Flaring, economic, environmental, hazard Introduction and literature review Gas flaring has been recognised as an economic waste and a great environmental hazard. Various researchers have written extensively on various issues in the gas sector. Blasing, Hand and Kimberly (2007) worked on monthly carbon emissions from natural gas flaring and cement manufacture in the United States.[1] They discovered that emissions amounted to 0.1% of all fossil fuel and carbon emissions had no clear and persistent annual pattern annually. Akpan (2009) in his work noted that literature shows that vast amount of these gas are being used by few of our chemical industries.[2]. The only way-out for harnessing the nation’s natural gas is to encourage the...

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