Global Oil Shale Market worth US$12.01 Billion by 2030

Source: www.lukoil.be

Oil shale reserves refer to oil shale resources that are recoverable under given economic restraints and technological abilities. Oil shale deposits range from small presently non-economic occurrences to large presently commercially exploitable reserves. Defining oil shale reserves is difficult, as the chemical composition of different oil shale, as well as their kerogen content and extraction technologies, vary significantly. The economic feasibility of shale oil extraction is highly dependent on the price of conventional oil; if the price of crude oil per barrel is less than the production price per barrel of shale oil, it is uneconomic.

There is no comprehensive overview of oil shale geographical allocation around the world. Around 600 known oil shale deposits are diversely spread throughout the earth, and are found on every continent.

Fluctuating costs have created the need for other resources to meet the growing demand for fuel oil. The growing demand for energy is expected to exhaust the world’s crude oil reserves in another 40 years. Global oil shale resources can supply more than 2.8 trillion barrels of nonrenewable energy. This is almost three times the capacity of crude oil reserves. 

Source: www.lukoil.be

The clean energy future is setting in. Soon it is going to be need of the future. Currently, the cost of retorting oil from oil shale is higher than the cost of crude oil production. Although this factor has kept many companies out of the market so far, cutting-edge research is now being undertaken across the globe to reduce the cost of production.

There are some factors which can be benefited positively by effective use of Oil Shale resources. These are explained in the following points.

Ø  Economic growth results in a rising middle class and demand for less corruption, more reforms and lasting democratic change

Ø  Abundant energy reduces global conflict

Ø  Delivered energy consumption in the transportation sector grows from

Ø  New Jobs Creation is driven by Low Cost Energy.

Source: www.lukoil.be

There is a big scope to research on Oil Shale Industry about its future path. Market research companies can contribute much more in this direction by providing Industry forecast. Research companies are trying very hard to develop less expensive methods for retorting of oil from crude oil. There are market research companies who are keeping a close watch on market conditions. These companies can give brief demonstrations about market size, opportunities, forecasting, growth rate, challenges and opportunities.

This kind of research will help Oil shale companies, Petroleum Companies, Energy Companies and Mining companies to carry their business in more accurate way in this dynamic business environment.

Source: www.lukoil.be