This report is a product of the staff of the World Bank. The findings, interpretations, and conclusions expressed in this report do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Flare data graphs shown in this report are based on global flaring data estimates of the Global Gas Flaring Reduction Partnership (GGFR) using satellite data from the Colorado School of Mines. This approach is applied globally in a consistent manner. Deviations from other sources, based on reported gas flaring volumes, are possible. No investment, policy, or other type of decision should therefore be based on this material, without verifying the findings independently. When referring to legislation, regulations, or presidential decrees, this report cites the first year of enactment in the first and all subsequent references. For example, if a law was initially enacted in 1996 but has been revised several times over the intervening years, it will be referred to as “Petroleum Law, 1996.” In jurisdictions where laws and regulation numbers end in the year of enactment, spelled out in full (for instance, 12345/1996), the year is not repeated as part of the reference.