Shale Oil Worldwide

  • Author: ChemistryViews
  • Published: 10 December 2012
  • Copyright: Wiley-VCH Verlag GmbH & Co. KGaA
thumbnail image: Shale Oil Worldwide

In the US the shale revolution began in the late 1990s. The first modern shale well was drilled a few miles north of Fort Worth, Texas. Since then shale oil and natural gas have enlivened the energy industry in the US.


According to a US-government contracted study from 2011, 32 countries approximately hold 6.6 quadrillion cubic feet of shale gas, more than 50 years worth of current global consumption. Only 13 % of the estimated resource is in the US.
However, because of government ownership of mineral rights, environmental concerns, and a lack of infrastructure to drill and transport gas and oil, oil companies run into obstacles to export the US model to other countries. Also in most countries much less is known about the geology than in the US, where drilling activity has been going on for long.

Therefore, the US and Canada could remain the main countries to take economic advantage of shale development for some time.


In Poland early wells have hit less gas than expected. Community wariness of drilling and changes to the government's tax and royalty rules make it less interesting.
China is believed to have more shale oil and gas than the US. Most of it is in arid or heavily populated areas.
In Argentina an enormous shale deposit has been discovered which is estimated to hold nearly one billion barrels of oil. Outside investment suffers from rules making it difficult to import needed technology and export potential profits.
Other countries, like France and Bulgaria, have banned hydraulic fracking because of environmental concerns.


Article Views: 3218

Sign in Area

Please sign in below

Additional Sign In options

Please note that to comment on an article you must be registered and logged in.
Registration is for free, you may already be registered to receive, e.g., the newsletter. When you register on this website, please ensure you view our terms and conditions. All comments are subject to moderation.

Article Comments - To add a comment please sign in

Bookmark and Share

If you would like to reuse any content, in print or online, from ChemistryViews.org, please contact us first for permission. more


CONNECT:

ChemistryViews.org on Facebook

ChemistryViews.org on Twitter ChemistryViews.org on YouTube ChemistryViews.org on LinkedIn Sign up for our free newsletter


A product of ChemPubSoc Europe (16 European Chemical Societies)and Wiley-VCH