Oil shale is an organic-rich finely grained structure containing organic chemical compounds. It is a bituminous material containing kerogen in solid form, which liberates liquid hydrocarbons during heating of rocks through a chemical process such as pyrolysis. Oil shale is mined and processed to produce oil, which has similar properties to conventional oil pumped from oil reservoirs, and thus, it is considered as a substitute for crude oil. The deposit of oil shale is found in various regions, but large shale oil deposits are found in the U.S. and Russia. The global oil shale market was valued at $1,609 million in 2017, and is projected to reach $5,636 million by 2025, growing at a CAGR of 16.7% from 2018 to 2025.
The drivers acknowledged for the global oil shale market include increase in depletion of sources of crude oil reserves and benefits of oil shale such as reduction in energy dependence and oil prices. However, high cost of equipment, mining, and processing technology has increased the cost of retorting oil from oil shale, and this factor is expected to impede the market growth. On the contrary, development in drilling technology has increased the production of the oil shale fields, which will offer future growth opportunities to the market.
Major Key Players of the Oil Shale Market are:AFSK HOM TOV, American Resource Petroleum Corp., American Shale Oil Corp. (AMSO), Aurasource, Inc., Blue Ensign Technologies Ltd., Chattanooga Corp., Chevron Shale Oil Company, Eesti Põlevkivi, Electro-Petroleum, Inc., and Exxon Mobil Corp
Read More @ http://www.sbwire.com/press-releases/oil-shale-market-exploring-future-growth-2018-2025-and-key-players-afsk-hom-tov-american-resource-petroleum-1285804.htm
The drivers acknowledged for the global oil shale market include increase in depletion of sources of crude oil reserves and benefits of oil shale such as reduction in energy dependence and oil prices. However, high cost of equipment, mining, and processing technology has increased the cost of retorting oil from oil shale, and this factor is expected to impede the market growth. On the contrary, development in drilling technology has increased the production of the oil shale fields, which will offer future growth opportunities to the market.
Major Key Players of the Oil Shale Market are:AFSK HOM TOV, American Resource Petroleum Corp., American Shale Oil Corp. (AMSO), Aurasource, Inc., Blue Ensign Technologies Ltd., Chattanooga Corp., Chevron Shale Oil Company, Eesti Põlevkivi, Electro-Petroleum, Inc., and Exxon Mobil Corp
Read More @ http://www.sbwire.com/press-releases/oil-shale-market-exploring-future-growth-2018-2025-and-key-players-afsk-hom-tov-american-resource-petroleum-1285804.htm
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