Shale oil Market: The Next Energy Revolution
About Oil Shale Market
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; however, extracting shale oil from oil shale is more costly than the production of conventional crude oil both financially and in terms of its environmental impact. Deposits of oil shale occur around the world, including major deposits in the United States. Estimates of global deposits range from 4.8 to 5 trillion barrels (760×109 to 790×109 m3) of oil in place.
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Rapid industrialization and increase in population have boosted the demand for fossil fuels across the globe. Oil shale, which is essentially a sedimentary rock containing kerogen, holds the potential to meet the future energy demand. Utilization of oil shale to produce both shale oil and electricity ensures energy security and generates employment opportunities, hence contributing towards both society and economy. The oil shale market has been segmented on the basis of process, application, and geography to provide the complete understanding of the current scenario of the global oil shale market.
In terms of application, the oil shale market is divided into electricity, non-upgraded products, and upgraded products. The oil obtained after retorting needs to be further refined to increase the scope of utilization, beyond heating and marine applications. The upgrading process involves hydro-treating along with other processes to yield valuable products such as diesel and kerosene. However, currently most of the oil obtained is sold directly as fuel oil or heating oil or for marine applications without further upgrading. The non-upgraded segment constitutes such oils. The report comprises a separate electricity segment and provides the market estimates and forecast in MWh and USD million.
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Scope of the Report:
This report focuses on the Oil Shale in United States market. This report categorizes the market based on manufacturers, type and application.
Market Segment by Manufacturers, this report covers
• Occidental Petroleum
• Chesapeake Energy
Market Segment by Type, covers
Market Segment by Applications, can be divided into
• Shale Oil
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