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Big Oil Must Work Harder to Slash Africa Emissions, WoodMac Says

  • Persistent gas flaring, growth in LNG remain key concerns
  • Reducing carbon output and diversifying is now ‘unavoidable’

Oil majors need to curb emissions in sub-Saharan Africa -- where almost half of their most polluting assets are located -- as investors demand greater efforts to slash carbon output, according to Wood Mackenzie Ltd.

Crucially, the companies must reduce gas flaring -- the process of burning off gas pumped out with oil -- and pollution from new liquefied natural gas plants, the U.K. consulting firm said in a report. While the region accounts for just a fraction of global oil and gas emissions, on a per-barrel basis it’s second only to Australia as the most intensive greenhouse-gas producer, WoodMac said.