Wednesday 19 June 2013

Russia trumps everyone in shale oil reserves | Russia Beyond The Headlines

       The U.S. Energy Information Agency estimates the total reserves of shale oil
at 375 billion barrels, of which Russia accounts for 75 billion,
the U.S. 58 billion and China 32 billion. Source: Reuters
"The U.S. Energy Information Agency (EIA) has published its first assessment of technically recoverable shale oil and gas resources in the majority of petroleum-producing countries, of which there are 42. It turns out that Russia has the largest reserves of shale oil and the ninth largest of shale gas. The shale oil in place could satisfy global demand for the next 10 years, according to The Financial Times.
The EIA estimates the total reserves of shale oil at 375 billion barrels, of which Russia accounts for 75 billion, the U.S. 58 billion and China 32 billion.
U.S. experts believe that nearly all Russia's shale oil resources are contained in the oil-bearing deposits of the Bazhenov play in Western Siberia, pointing out that they are hard to reach: The amount of recoverable reserves represent only a fraction (6 percent) of the total (1.24 trillion barrels), even ignoring the economic feasibility of producing them."

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