Wasteful Oil and Gas Development Rampant - NGO
OIL & GAS

Wasteful Oil and Gas Development Rampant - NGO

According to a report by an NGO, almost all oil and gas producers are engaging in the development of unnecessary fields, leading to wasteful resource usage. The report highlights the alarming trend where valuable resources are being extracted from fields that are not required.

The NGO, which conducted an extensive investigation, discovered that this wasteful development is prevalent across the industry. The report states that nearly all oil and gas producers are involved in activities that result in the extraction of resources from non-essential fields.

The impact of such practices is significant, with natural resources being exploited beyond necessity. This unnecessary extraction not only leads to wastage but also contributes to increased carbon emissions and environmental degradation. The NGO urges the industry to reconsider its approach and adopt more sustainable practices to safeguard the planet.

These findings raise concerns about the priorities of the oil and gas industry. Critics argue that companies must be held accountable for their actions and consider the long-term consequences of their decisions. By focusing on profit-driven objectives rather than environmental sustainability, the industry risks undermining efforts towards a cleaner and greener future.

The NGO's report also brings attention to the urgency of transitioning to renewable energy sources and phasing out reliance on the oil and gas sector. As countries strive to meet their climate change commitments and reduce carbon emissions, the wasteful development of non-essential fields only impedes progress towards a sustainable energy future.

It is crucial for oil and gas producers to prioritize responsible resource management. Fewer investments in unnecessary fields and a focus on renewable energy alternatives can help mitigate the environmental impact of the industry. Additionally, governments and regulatory bodies must work together to enforce stricter guidelines to prevent wasteful practices.

This report serves as a wake-up call to the oil and gas industry, urging them to reassess their strategies. Only by making conscious efforts to reduce wasteful development and embrace sustainable practices can the industry contribute positively to the global efforts of combating climate change and preserving our planet for future generations.

In conclusion, the NGO's report highlights the alarming trend of unnecessary oil and gas field development. The industry must take immediate action to prioritize sustainable practices and transition towards renewable energy sources to mitigate environmental damage and work towards a cleaner, greener future.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

According to a report by an NGO, almost all oil and gas producers are engaging in the development of unnecessary fields, leading to wasteful resource usage. The report highlights the alarming trend where valuable resources are being extracted from fields that are not required. The NGO, which conducted an extensive investigation, discovered that this wasteful development is prevalent across the industry. The report states that nearly all oil and gas producers are involved in activities that result in the extraction of resources from non-essential fields. The impact of such practices is significant, with natural resources being exploited beyond necessity. This unnecessary extraction not only leads to wastage but also contributes to increased carbon emissions and environmental degradation. The NGO urges the industry to reconsider its approach and adopt more sustainable practices to safeguard the planet. These findings raise concerns about the priorities of the oil and gas industry. Critics argue that companies must be held accountable for their actions and consider the long-term consequences of their decisions. By focusing on profit-driven objectives rather than environmental sustainability, the industry risks undermining efforts towards a cleaner and greener future. The NGO's report also brings attention to the urgency of transitioning to renewable energy sources and phasing out reliance on the oil and gas sector. As countries strive to meet their climate change commitments and reduce carbon emissions, the wasteful development of non-essential fields only impedes progress towards a sustainable energy future. It is crucial for oil and gas producers to prioritize responsible resource management. Fewer investments in unnecessary fields and a focus on renewable energy alternatives can help mitigate the environmental impact of the industry. Additionally, governments and regulatory bodies must work together to enforce stricter guidelines to prevent wasteful practices. This report serves as a wake-up call to the oil and gas industry, urging them to reassess their strategies. Only by making conscious efforts to reduce wasteful development and embrace sustainable practices can the industry contribute positively to the global efforts of combating climate change and preserving our planet for future generations. In conclusion, the NGO's report highlights the alarming trend of unnecessary oil and gas field development. The industry must take immediate action to prioritize sustainable practices and transition towards renewable energy sources to mitigate environmental damage and work towards a cleaner, greener future.

Next Story
Real Estate

Max Estates Secures 7.25 Acre Land in Gurugram for Luxury Housing

Max Estates (Max Estates), a leading NCR real estate developer, has acquired development rights for a 7.25 acre land parcel in Sector 59, Gurugram, along the prime Golf Course Extension Road. The project has a development potential of approximately 1.3 million sq ft with an expected outlay of Rs 5.34 billion, offering a Gross Development Value (GDV) of more than Rs 30 billion. The transaction involves the purchase of 100 per cent shareholding in Base Buildwell (BBPL), the SPV holding license and development rights for the parcel, subject to regulatory approvals. With this acquisition, Max..

Next Story
Resources

10th Belt and Road Summit to Drive Collaboration in Hong Kong

The 10th edition of the Belt and Road Summit will be held on September 10-11 at the Hong Kong Convention and Exhibition Centre, marking a decade of progress under the Belt and Road Initiative (B&RI) and opening new avenues for collaboration among governments and businesses. Jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the Summit is themed “Collaborate for Change • Shape a Shared Future”. It will feature over 90 high-level government officials and business leaders from across Belt a..

Next Story
Infrastructure Transport

Mumbai Introduces 12-Metre Electric Buses in BEST-PMI Partnership

In a milestone for sustainable urban transport, PMI Electro Mobility’s Mumbadevi Mobility, in partnership with the Brihanmumbai Electric Supply and Transport (BEST), launched the first batch of fully electric buses in Mumbai.  At an official ceremony held at the BEST Office, Colaba Depot, four 12-metre e-buses were flagged off by Ashish Sharma, IAS, General Manager, BEST. This marks the first phase of a 250-bus fleet aimed at strengthening public transport and cutting the city’s carbon footprint. The buses will operate from Oshiwara Depot, serving high-demand routes for greater c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?