"Obama administration releases a proposal which will reduce the area of land available for shale oil research by 75%"

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NRG Expert, the energy intelligence company, has been watching the news about Obama with interest. Whilst the announcement will impact the Oil shale production in the US, our reports show that other countries do have resources, and are considering exploiting these resources already.

What would spark an increase in production?

  • High oil prices could spur the development of oil shale.
  • Constrained oil supplies
  • Uncertainty eg war or oil embargos
  • Additional revenue stream from shale oil projects e.g. cosmetic ingredients, cement,

uranium and phosphate for fertilisers.

And as OPEC oil is expected to continue to dominate the oil markets, countries with oil shale reserves may be keen to develop, at least some domestic supply.

Which countries have the highest reserves?

The US has by far and away the most shale oil reserves, but the recent proposal would reduce the area of land available until the industry proves commercial development to be “technically viable and environmentally safe.” *
It is worth noting though, that the proposal does not refer to all the oil produced from shale, mainly oil-shale. Other countries with fewer reserves, but commercial shale oil production are Brazil, Estonia and China.

Countries ranked by oil shale resources:
Country    In place resources (million barrels)
USA         3,706,825
China         354,430
Russia        247,883
Congo         100,000
Brazil         82,000
Italy             73,000
Morocco     53,381
Jordan         35,172
Australia     31,729
Estonia         16,286

Source: used by permission of the World Energy Council, London, http://www.worldenergy.org 2008

Over the coming years the development of the industry will be challenged by other sources of oil; fluctuating prices; environmental opposition and environmental legislations including water usage. But with oil prices projected to remain high and the additional revenue streams available for oil shale, the high production costs may be justified.

To see the full picture and to obtain detailed statistics on global oil reserves by country and
company, visit NRG Expert and view:

Global Oil Reserves & Shale Oil Report 2012.
http://www.nrgexpert.com/research-store/non-renewables/

Contact:
Edgar van der Meer
NRG Expert +1 (416) 840-5847
+44 (0)20 8432 3059
edgarv@NRGExpert.com
http://www.NRGExpert.com

Background information
NRG Expert is a London and Toronto based energy intelligence and market
research publisher. NRG Expert provides up to date information and analysis
on worldwide energy markets, including electricity, natural gas, coal, nuclear,
renewable energy, water and waste, and all elements of energy infrastructure.

Source: http://www.newsreview.com, NRG Expert *

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Edgar van der Meer
NRG Expert
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