The global oil & gas industry experienced a 33% drop in company filings mentions of gas flaring in Q1 2023 compared with the previous quarter, with the highest share accounted for by Occidental Petroleum with 309% year-on-year increase, according to GlobalData’s analysis of over 159 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 Q1 2023, ranking highest in terms of mentions, ahead of future of work and shale, according to GlobalData.
Of the top leading companies in the oil & gas industry, Occidental Petroleum had the greatest increase in references for gas flaring in Q1 2023, compared with the previous quarter. GlobalData identified 45 gas flaring-related sentences in the company's filings - 2% of all sentences - and an increase of 300% in Q1 2023 compared with Q1 2022. Saudi Arabian Oil’s mentions of gas flaring rose by 100% to 20 and BP’s by 100% to 15 and Exxon Mobil’s by 100% to 12 and Repsol’s by 100% to 11.
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 Q1 2023 was 97.
For further understanding of GlobalData's Top 20 Oil and Gas Themes – 2022 – Thematic Research buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.
