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Chevron JV spending $2.3B to cut flaring in Angola

Chevron Corporation Cabinda joint venture is spending $2.3 billion over five years to reduce flaring–the burning of natural gas from oil fields–and instead utilize the gas, a top company official said this month.

The disclosure comes as foreign oil companies are increasingly investing to monetize the gas that used to burn in their African fields, driven by higher gas prices and environmentalists’ demands.

In an interview during a visit at the Chevron compound in Angola’s Cabinda enclave, John Baltz, Chevron’s Southern Africa production manager, said though the spending is designed to be financially sound, “it isn’t solely an economic project” but also a corporate responsibility effort. In particular, he said it will “reduce emissions.


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