The global Oil Shale Market was valued at $2,509 million in 2020, and is projected to reach $5,736 million by 2025, growing at a CAGR of 15.8% from 2020 to 2025.
Oil shale, also known as kerogen shale, is an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons called shale oil (not to be confused with tight oil—crude oil occurring naturally in shales) can be produced. Shale oil is a substitute for conventional crude oil;
The oil shale market is driven by the growing demand for energy across the global. Reduction in non-renewable energy and increasing demand for energy are the factors which driving the growth of the market. Further growing the quantity of recoverable oil reserves, which resulting the growth of the market. The main advantage of oil shale is that shale oil extraction methods are more flexible than traditional oil well drilling. The initial drilling only accounts for 40 percent of the total cost.
The Major Players in the Global oil Shale Market are American Research Petroleum Corp, American Shale Oil, LLc, AuraSource, Inc., Blue Ensign Technologies Limited, Chattanooga Group, Inc., Chervon Corporation., Eesti Polevkivi Ltd, Electro-petroleum, Inc., Exxon Mobil corporation
After the criticize situation of covid-19 Occidental Petroleum will work on Leveraging CO2 Enhanced Oil Recovery expertise, Providing the market with innovative low carbon business solutions and Economic and carbon impact through technology, projects, and technical services.
The US itself is groaning under the weight of its own oil. Shale producers, who have, for the past five years run rings around traditional oil producers like Saudi Arabia, are facing unprecedented production cuts, storage glut and crashing demand. The Covid-19 challenge and a global economy in tatters have put the spotlight on the US’ decision: does the US want lower or higher oil prices? In an election year, it’s a tough on
Global oil Shale market segmentation, by product is shale Gasoline, shale diesel, Kerosene and Heavy oil. By application it has been Fuel, Electricity and Cement. Based on region, the global oil Shale market has been segmented into North America, Asia-Pacific, Europe and Middle East & Africa. U.S. shale oil production has dropped since mid-March, with energy demand hit by the coronavirus pandemic and domestic producers potentially cutting this year’s capital expenditures by around half, leading to expectations that output may not fully recover for years.
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