UAE hosts World Bank meeting to curb global gas flaring by 2030
The UAE has hosted the World Bank's Global Flaring and Methane Reduction (GMFR) Partnership meeting as part of a global effort to drive down waste that could otherwise be converted to energy. The World Bank estimates that billions of cubic metres of gas are being released into the air annually due to flaring. This is the process of burning gas during oil production. The associated natural gas, composed mainly of methane, is often treated as waste and burnt or vented directly into the atmosphere. Putting a stop to flaring has environmental and economic benefits, said Zubin Bamji, the World Bank's GFMR manager. GFMR estimates global upstream gas flaring increased to 148 billion cubic metres (bcm) in 2023, up from 139 bcm in 2022. "It's about energy security and, at a time when many countries are looking for extra energy supplies, here we see one of the resources being wasted to the tune of billions of cubic metres every year," said Mr Bamji. "We estimate the amount of energy wasted through flaring alone could power the entire Sub-Saharan African continent." Ibrahim Al Zu'bi, Adnoc's chief sustainability officer, echoed this view, highlighting that it has been following a zero routine flaring policy for years and is now sharing its expertise with other national oil companies. A total of $250 million has been earmarked by the development bank, $100 million of which came from the UAE, to support those countries with the least capacity and resources to address these harmful emissions. The partnership is focused on providing grant funding, technical assistance, policy and regulatory reform advisory services, institutional strengthening, and mobilising financing to support action by governments and the industry. GFMR is active in at least dozen countries, which account for about a quarter of the oil and gas sector's methane emissions. In the Middle East, GFMR is helping Iraq, Egypt and Yemen identify opportunities and develop action plans to reduce emissions from oil and gas operations. The GFMR Partnership, launched at Cop28 and managed by the World Bank, offers technical assistance and financial support to countries and operators that commit to long-term methane reduction. The two-day steering committee meeting brought together representatives from countries such as Norway, Azerbaijan and Uzbekistan, as well as industry giants such as Shell, BP, Total Energies and Equinor. Sixteen projects from across the globe were reviewed, with particular focus on methane measurement, sensor deployment and regulatory alignment. "What impressed me was the diversity of progress," Mr Al Zu'bi said. "Some countries were just beginning the conversation on methane, others were already deploying sensors and tools. This diversity justifies the need for a collaborative platform like this." The UAE's role, he added, extends beyond funding. Adnoc sits on the GFMR's technical advisory group, helping assess project viability and providing support beyond finance, including in data, expertise and capacity building. The next phase of the partnership will involve expanding the number of countries involved, ensuring long-term financial sustainability of the fund and sharing success stories – particularly from smaller or newer producers. "This isn't about one company or one country," said Mr Al Zu'bi. "It's about building a global community committed to smart, sustainable energy practices." With 2030 fast approaching, the World Bank and Adnoc agree that the urgency is real but so is the opportunity.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
3 days ago
- Arabian Post
Middle East Debt Surges as External Influence Deepens
The debt burden across the Middle East and North Africa has escalated markedly over the last decade, with many governments relying heavily on borrowing to sustain public spending amid economic challenges. This growing fiscal strain, combined with an increasing dependence on external donor funding, has amplified the influence of foreign actors on both domestic policies and regional geopolitics, raising concerns about the long-term economic sovereignty of these states. State borrowing in the MENA region has expanded substantially due to a combination of declining oil revenues, rising public expenditures, and the economic fallout from global disruptions. Countries that historically relied on hydrocarbon wealth to finance budgets have faced persistent pressures to diversify revenue sources, but with uneven success. The persistence of conflict, political instability, and the lingering impacts of the COVID-19 pandemic have exacerbated fiscal deficits, pushing governments to turn to international lenders and multilateral institutions more frequently. The Gulf Cooperation Council members, traditionally seen as relatively debt-resilient, have witnessed a gradual uptick in sovereign borrowing. For instance, Saudi Arabia and the United Arab Emirates have issued substantial sovereign bonds in international markets to fund large infrastructure projects under their economic diversification agendas. Nonetheless, their debt-to-GDP ratios remain relatively contained compared to other MENA nations. Meanwhile, countries like Egypt, Jordan, and Lebanon have accumulated debt at levels that alarm economists and credit rating agencies. Egypt's public debt has exceeded 90% of GDP, while Lebanon remains mired in a sovereign debt crisis, with its economy contracting sharply and international lenders demanding stringent reforms. ADVERTISEMENT The rise in borrowing often comes with conditions attached by international creditors, including the International Monetary Fund and World Bank, as well as bilateral donors such as the European Union, the United States, and Gulf allies. These conditions frequently mandate structural reforms, austerity measures, and adjustments in subsidy programmes that affect large segments of the population. Such fiscal tightening has stirred public discontent and occasionally sparked protests, underscoring the delicate balance governments must strike between fiscal responsibility and social stability. The reliance on donor funding has widened the scope for foreign influence in national decision-making. Some nations find themselves aligning their foreign policies to appease key donors, ensuring continued financial assistance. This alignment manifests in diplomatic stances, regional alliances, and participation in international coalitions, sometimes at odds with local priorities or public opinion. For example, the strategic partnerships between Gulf states and Western powers have intensified, with financial aid often linked to military cooperation or counterterrorism initiatives. Beyond geopolitics, the conditionality of donor funding can limit the policy options available to governments, constraining economic strategies and reform agendas. This external pressure has raised questions about sovereignty and the capacity of states to chart independent development paths. Economists warn that a cycle of debt dependence could undermine the very economic growth that these countries seek, trapping them in a cycle of borrowing and reform fatigue. The structural challenges that fuel debt accumulation in MENA are multifaceted. Demographic pressures, with a large youth population entering the job market, heighten the demand for public services and employment opportunities. However, the private sector remains underdeveloped in many countries, unable to absorb the expanding labour force or generate sufficient revenue to alleviate public finances. High unemployment rates and income disparities compound the strain on state budgets, forcing governments to maintain subsidies on essentials such as fuel, electricity, and food, which constitute significant fiscal burdens. Energy transition trends and volatile global markets further complicate the fiscal landscape. The drive towards renewable energy and reduced reliance on fossil fuels threatens to erode the traditional income bases of hydrocarbon-exporting countries. While some Gulf states have embraced ambitious clean energy projects and economic diversification, the transition carries upfront costs that add to borrowing needs. Non-GCC nations that rely on oil and gas revenues for budgetary support face more acute vulnerabilities, with fluctuating commodity prices directly impacting their fiscal stability. ADVERTISEMENT Policy experts advocate for enhanced fiscal reforms focused on broadening the tax base, improving public financial management, and fostering private sector growth. Greater regional cooperation on debt restructuring and coordinated economic policies could also alleviate pressures. Yet, political instability and entrenched governance challenges hamper implementation efforts in several countries. Transparency and accountability deficits remain a significant obstacle to efficient debt management and the effective use of external funds. International financial institutions have called for a balanced approach to lending and aid, one that supports immediate fiscal needs while promoting sustainable development. This includes encouraging greater domestic resource mobilisation and reducing reliance on donor funding in the medium term. Failure to address these issues risks escalating debt distress and diminished policy autonomy, with potentially destabilising repercussions for the entire region.
Arabian Post
3 days ago
- Arabian Post
Unregulated Gold Rush Poses Existential Risk to Ghana's Mining Future
Ghana's gold reserves have surged to 31.37 tonnes in 2025, reaffirming its position as Africa's leading gold producer. However, this growth is shadowed by a significant rise in artisanal and small-scale mining , which now accounts for nearly 40% of national output. The proliferation of unlicensed operations is raising alarms over environmental degradation, regulatory challenges, and the long-term sustainability of the country's mining sector. The Ghana Chamber of Mines projects a 6.25% increase in gold production, reaching 5.1 million ounces this year. This uptick is driven by both large-scale projects, such as Newmont's Ahafo South and Shandong's Namdini mines, and a notable expansion in ASM activities. Despite contributing significantly to gold output, an estimated 70–80% of ASM operations remain unlicensed, complicating efforts to regulate the sector and mitigate its environmental impact. The environmental consequences of unregulated ASM are evident. In Senegal, similar practices have led to mercury contamination in the Faleme River, prompting a suspension of mining activities along its banks until 2027. In Ghana, the use of mercury and other hazardous chemicals in ASM poses serious risks to both ecosystems and public health. ADVERTISEMENT To address these challenges, the Ghanaian government has established the GoldBod initiative, aiming to streamline small-scale gold purchases and combat smuggling. The removal of withholding taxes has also been implemented to reduce illegal trade. However, enforcement remains a significant hurdle, with many ASM operations continuing outside the legal framework. The rise in ASM is not unique to Ghana. Across Africa, artisanal mining supports the livelihoods of millions but often operates in legal grey areas. In the Democratic Republic of Congo, for instance, ASM is a major component of the mining industry, yet it frequently involves child labor and unsafe working conditions. Efforts to formalize the sector have been inconsistent, leading to ongoing concerns about human rights and environmental sustainability. The World Bank has introduced a new framework to promote sustainable and inclusive ASM practices. This approach emphasizes the professionalization of artisanal miners, urging governments to implement regulatory measures that ensure environmental stewardship and social well-being. By fostering partnerships among governments, multilateral institutions, and civil society, the framework seeks to integrate ASM into the formal economy, enhancing transparency and accountability. Technological advancements offer potential solutions for sustainable mining. In Zimbabwe, the introduction of biological oxidation techniques has reduced pollution by 20%, minimizing the use of harmful chemicals like mercury and cyanide. Similarly, the adoption of renewable energy sources, such as solar and wind power, is transforming mining operations across Africa, reducing carbon footprints and operational costs. Despite these initiatives, the path to sustainable mining in Ghana remains fraught with challenges. The informal nature of ASM, coupled with limited access to financing and equipment, hampers efforts to improve efficiency and safety. Moreover, the lack of clear property rights and tenure security often leads to conflicts between artisanal miners and large-scale mining companies. To mitigate these issues, experts advocate for comprehensive reforms that include simplifying licensing processes, providing technical training, and ensuring fair market access for artisanal miners. By integrating ASM into the formal economy, Ghana can enhance regulatory compliance, protect the environment, and promote equitable economic growth.
Web Release
4 days ago
- Web Release
Burjeel Holdings to Operate and Manage ADNOC's New State-of-the-art Das Hospital
Burjeel Holdings PLC, a leading super-specialty healthcare provider in the MENA region, listed on the Abu Dhabi Securities Exchange, has signed a contract to operate and manage ADNOC's Das Hospital at Das Island. This agreement supports ADNOC's commitment to strengthening emergency preparedness, improving healthcare accessibility, and promoting community wellbeing at Das Island. The new Das Hospital is designed to serve as the primary healthcare and emergency response hub for Das Island residents. With its advanced infrastructure and comprehensive range of services, the facility will provide round-the-clock care for ADNOC's workforce, residents, and emergency medical cases arising from nearby locations. Dr. Ghuwaya Al Neyadi, SVP, Group Medical & Wellbeing, ADNOC, said: 'Through this partnership with Burjeel Holdings, ADNOC's state-of-the-art Das Hospital will provide access to top-tier healthcare and emergency services for our employees, reinforcing our Energy for Wellbeing strategy. Our people are our most important asset and ADNOC will continue to prioritize their wellbeing and foster a healthy working environment.' Burjeel Holdings will oversee all clinical and administrative functions of the hospital. The facility includes a broad range of outpatient specialties—such as general surgery, internal medicine, family medicine, occupational health, ENT, dental, ophthalmology, and cardiac and pulmonary unit. It also houses a fully equipped emergency department with a minor operating room, licensed pharmacies, and a dedicated blood bank. John Sunil, Group CEO of Burjeel Holdings, said: 'We are proud to strengthen our partnership with ADNOC through the management of the new Das Hospital. This initiative reflects our continued commitment to extending advanced, high-quality healthcare to strategic and remote locations. Burjeel Holdings remains dedicated to clinical excellence, innovation, and agile operations in support of ADNOC's vision for a safer and healthier future.' Inpatient care is supported by 23 beds across male and female quarantine and critical care units, with the capability to manage both acute and chronic cases. The facility is further supported by advanced diagnostic imaging including X-ray, CT scan, and ultrasound, along with a dedicated physiotherapy and rehabilitation unit. Purpose-built for resilience and emergency responsiveness, the hospital includes a decontamination unit, ambulance bays, and a helipad to support medical evacuations from Das Island. Tele-consultation and tele-counselling services, vaccination programs, and health education initiatives will further enhance access and continuity of care. The Das Hospital builds upon the foundation of the former Das Medical Center, significantly enhancing healthcare provision on the island. With the integration of inpatient facilities, advanced diagnostic capabilities, and surgical services, the new hospital ushers in a new era of comprehensive, high-quality care for the Das community. It will also serve as the first responder for medical emergencies while supporting preventive and rehabilitative care aligned with ADNOC's occupational health guidelines. The new contract builds on Burjeel Holdings' long-standing partnership with ADNOC, which includes the successful operation and management of Al Dhannah Hospital, one of the largest healthcare facilities in the Al Dhafra region. The hospital will operate as part of an integrated care network, supported by the Group's advanced facilities, including its flagship unit, Burjeel Medical City. Burjeel Holdings' network is equipped with state-of-the-art medical technologies and specialized expertise to manage complex cases across a broad spectrum, including trauma, organ transplantation, women's health, pediatrics, orthopedics, spine surgery, and neurosciences, ensuring continuity of care from remote to tertiary-level settings.
