CARACAS, VENEZUELA (Pietro D. Pitts, Energy Analytics Institute, 4.Apr.2019, Words: 280) — Venezuela, home to the world’s largest oil reserves and one of Latin America’s larger oil producers, is flaring around 2 billion cubic feet per day (Bcf/d) of natural gas associated with the production of the country’s bread-and-butter commodity, Gas Energy Latin America partner Antero Alvarado announced 4 Apr. 2019.
“The main reason gas is being lost is because it is not being re-injected
into oil reservoirs and as no progress has been made related to hydrocarbon
recovery projects,” Alvarado said during a conference at the IESA business
school in Caracas, Venezuela. “The bulk of the gas, nearly 1.7 Bcf/d, is being
flared in the north of Monagas state.”
