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. 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 UK 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.
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