Market Research Reports

Oil Shale Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022

174pages
Published Date: 2015-06-30
 

Description



This research study analyzes the market for oil shale in terms of revenue (USD Million) and volume (Million Barrels). The global oil shale market has been segmented on the basis of geography, process (ex-situ and in-situ), and application. For the research, 2013 has been taken as the base year, while all forecasts have been given for the 2014–2022 period. Market data for all the segments has been provided at the regional as well as country-specific level for the 2013–2022 period (Countries that are supposed to achieve commercial production before 2022 are only included). The report provides the market numbers for only North America (U.S.), Asia Pacific (China and Australia), Latin America (Brazil), Middle East and Africa (Morocco and Jordan) and describes the possibilities of shale oil commercialization in other countries such as Canada, Russia, and Serbia. Only the U.S., Jordan, Australia and Morocco are expected to achieve commercial production of shale oil from oil shale within the forecast period. The report provides a comprehensive competitive landscape and features companies engaged in the oil shale industry. 

The report includes the key market dynamics affecting the overall oil shale industry. It also provides a detailed industry analysis of the global oil shale market with the help of Porter’s Five Forces model. The Porter’s Five Forces analysis aids in understanding the five major forces that affect the industry structure and profitability of the global oil shale market. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat from new entrants, threat from substitutes, and degree of competition. The high-level analysis in the report provides detailed insights into the global oil shale business globally. Major drivers, restraints, and opportunities of the oil shale market were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. There are currently numerous drivers for the oil shale industry. One of the most prominent drivers is the need for energy security in various nations. Market attractiveness analysis was carried out for the oil shale market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.

The oil shale market was further segmented on the basis of process into in-situ and ex-situ. The revenue realization for process is done by multiplying the shale oil produced with forecasted crude oil prices. The application analysis chapter divides the global market into three broad segments: electricity, non-upgraded products, and upgraded products. The classification into non-upgraded and upgraded products is done to provide exact picture of the global oil shale market. The non-upgraded products represent the oil suitable for marine and heating applications, while the upgraded segment deals with fuels such as kerosene, jet fuel, and diesel that are formed after upgrading. The electricity application revenue (USD Million) and volume (MWh) are calculated separately. Key market participants in the oil shale market include Red Leaf Resources Inc., Eesti Energia AS, BNK Petroleum Inc., Chevron Corporation, Fushun Mining Group Co., Ltd., Jordan Oil Shale Company B.V., Questerre Energy Corporation, Queensland Energy Resources Ltd, Global Oil Shale Group Limited, Viru Keemia Grupp, and Exxon Mobil Corporation. The report provides an overview of these companies, followed by their financial details (on availability), business strategies, and recent developments.

The global oil shale market is segmented as follows:
  • Global Oil Shale Market: Process Analysis
    • In-Situ
    • Ex-Situ
  • Global Oil Shale Market: Application Analysis
    • Electricity
    • Non-upgraded
    • Upgraded
  • Global Oil Shale Market: Regional Analysis
    • North America
      • U.S.
    • Europe
      • Estonia
    • Asia Pacific
      • China
      • Australia
    • Middle East & Africa
      • Jordan
      • Morocco
    • Latin America
      • Brazil

Table of Contents



Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology

Chapter 2 Executive Summary

Chapter 3 Global Oil Shale Market – Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis: Global Shale Market

Chapter 4 Market Overview
4.1 Market Drivers
      4.1.1 Abundance of Oil Shale Reserves With Economic and Non-Economic Benefits
      4.1.2 Assurance of Energy Security to Countries Lacking Substitutes to Oil Shale
4.2 Market Restraints
      4.2.1 Plummeting Oil Prices Hinder Ongoing Oil Shale Mining Activities
      4.2.2 Adverse Environmental Impact Associated with Oil Shale Mining
4.3 Market Opportunities
      4.3.1 Commercialization of In-situ Technology
4.4 Porter’s Five Forces Analysis
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat from New Eentrants
      4.4.4 Threat of Substitutes
      4.4.5 Degree of Competition
4.5 Energy Security
      4.5.1 Current Threats to Global Energy Security
      4.5.2 Australia
              4.5.2.1 Key Strengths: Australia
              4.5.2.2 Key Challenges: Australia
              4.5.2.3 Key Opportunities: Australia
              4.5.2.4 Key Bodies & Regulations Impacting Energy Markets & Energy Security:
      4.5.3 India
             4.5.3.1 Key Strengths: India
             4.5.3.2 Key Challenges: India
             4.5.3.3 Key Opportunities: India
      4.5.4 China
             4.5.4.1 Key Strengths: China
             4.5.4.2 Key Challenges: China
             4.5.4.3 Key Opportunities: China
4.6 Investor Appetite Analysis – Oil Shale Projects
      4.6.1 Attarat Power Plant – Jordan
      4.6.2 Al Lajjun Oil Shale Project
      4.6.3 Key Takeaways and Trends
4.7 Oil Shale Technologies: Trends and Developments
      4.7.1 Retorting Technology Trends
      4.7.2 Shell’s In-situ conversion process
      4.7.3 Chevron’s CRUSH
      4.7.4 Petrosix Technology
      4.7.5 Red Leaf Resources’ In-Capsule Technology
      4.7.6 Independent Energy Partners’ Geothermic Fuel Cell
      4.7.7 Fushun Process
      4.7.8 Kiviter Process
      4.7.9 Galoter Process
      4.7.10 Technology Comparison
4.8 Market Attractiveness

Chapter 5 Global Oil Shale Market – Process Segment Analysis
5.1 Global Oil Shale Market: Process Segment Overview
      5.1.1 Global Oil Shale Market Volume Share, by Process Segment, 2013 & 2022 (Million Barrels)
5.2 Ex-situ Process
      5.2.1 Global Oil Shale Market Ex-situ Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
5.3 In-situ Process
      5.3.1 Global Oil Shale In-situ Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)

Chapter 6 Global Oil Shale Market – Application Segment Analysis
6.1 Global Oil Shale Market: Application Segment Overview
      6.1.1 Global Oil Shale Market Volume Share, by Application Segment (Without Electricity), 2013 & 2022 (Million Barrels)
6.2 Non-upgraded (Fuel Oil)
      6.2.1 Global Oil Shale Non-upgraded Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
6.3 Upgraded (Diesel, Kerosene, and Jet Fuels)
      6.3.1 Global Oil Shale Upgraded Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
6.4 Electricity
      6.4.1 Global Oil Shale Electricity Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (MWh)

Chapter 7 Global Oil Shale Market – Regional Segment Analysis
7.1 Global Oil Shale Market: Regional Segment Overview
      7.1.1 Global Oil Shale Market Volume Share, by Region, 2013 and 2022 (Million Barrels)
7.2 North America
      7.2.1 North America Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.2.2 North America Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022, (USD Million) (Million Barrels)
      7.2.3 North America Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022, (USD Million) (Million Barrels)
      7.2.4 Oil Shale Industry Outlook: U.S. and Canada
7.3 Europe
      7.3.1 Europe Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.3.2 Europe Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.3.3 Europe Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.3.4 Shale Oil Industry Outlook: Estonia, Russia, and Rest of Europe
7.4 Latin America
      7.4.1 Latin America Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.4.2 Latin America Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.4.3 Latin America Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
7.5 Asia Pacific
      7.5.1 Asia Pacific Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.5.2 Asia Pacific Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.5.3 Asia Pacific Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.5.4 Australia
              7.5.4.1 Australia Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
              7.5.4.2 Australia Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
              7.5.4.3 Australia Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.5.5 China
              7.5.5.1 China Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
             7.5.5.2 China Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
             7.5.5.3 China Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
7.6 Middle East & Africa (MEA)
      7.6.1 Middle East & Africa (MEA) Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.6.2 Middle East & Africa (MEA) Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.6.3 Middle East and Africa (MEA) Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.6.4 Jordan
             7.6.4.1 Jordan Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
            7.6.4.2 Jordan Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
            7.6.4.3 Jordan Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
      7.6.5 Morocco
              7.6.5.1 Morocco Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
             7.6.5.2 Morocco Oil Shale Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
             7.6.5.3 Morocco Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)

Chapter 8 Company Profiles
8.1 Red Leaf Resources Inc.
      8.1.1 Company Overview
      8.1.2 Business Strategy
      8.1.3 Recent Developments
8.2 Eesti Energia AS
      8.2.1 Company Overview
      8.2.2 Financial Overview
      8.2.3 Business Strategy
      8.2.4 Recent Developments
8.3 BNK Petroleum Inc.
      8.3.1 Company Overview
      8.3.2 Financial Overview
      8.3.3 Business Strategy
      8.3.4 Recent Developments
8.4 Chevron Corporation
      8.4.1 Company Overview
      8.4.2 Financial Overview
      8.4.3 Business Strategy
      8.4.4 Recent Developments
8.5 Fushun Mining Group Co., Ltd.
      8.5.1 Company Overview
      8.5.2 Business Strategy
8.6 Jordan Oil Shale Company B.V
      8.6.1 Company Overview
      8.6.2 Business Strategy
      8.6.3 Recent Developments
8.7 Questerre Energy Corporation
      8.7.1 Company Overview
      8.7.2 Financial Overview
      8.7.3 Business Strategy
      8.7.4 Recent Developments
8.8 Queensland Energy Resources Ltd
      8.8.1 Company Overview
      8.8.2 Business Strategy
      8.8.3 Recent Developments
8.9 Global Oil Shale Group Limited
      8.9.1 Company Overview
      8.9.2 Business Strategy
      8.9.3 Recent Developments
8.10 Exxon Mobil Corporation
      8.10.1 Company Overview
      8.10.2 Financial Overview
      8.10.3 Business Strategy
      8.10.4 Recent Developments
8.11 Petróleo Brasileiro S.A.
      8.11.1 Company Overview
      8.11.2 Financial Overview
      8.11.3 Business Strategy
      8.11.4 Recent Developments
8.12 Viru Keemia Grupp AS
      8.12.1 Company Overview
      8.12.2 Financial Overview
      8.12.3 Business Strategy
      8.12.4 Recent Developments

Chapter 9 Primary Research Key Findings

List of Figures 

FIG. 1 Global Oil Shale Market: Market segmentation
FIG. 2 Global Oil Shale Market Estimates and Forecasts, 2013-2022, (USD Million), (Million Barrels)
FIG. 3 Global Oil Shale Reserves (in billion barrels)
FIG. 4 Global Oil Shale Market: Value Chain Analysis
FIG. 5 Oil Shale to Shale Oil Conversion
FIG. 6 Comparison between oil shale reserves (U.S.) with crude oil reserves
FIG. 7 Energy Demand Forecast in Non-OECD Countries (Quadrillion BTUs)
FIG. 8 Crude Oil Prices, By Month, 2014 (USD / Barrel)
FIG. 9 Comparison of Cost of Oil Production
FIG. 10 Major Steps in Thermally Conductive In-situ conversion
FIG. 11 Schematic Representation of Exxon Mobil’s Electrofrac Process
FIG. 12 Porter’s Five Forces Analysis: Oil Shale Market
FIG. 13 International Energy Security Risk Index 2015
FIG. 14 Natural Gas and Coal Production Vs Consumption (2006-13)
FIG. 15 Crude oil Production Vs Consumption (2006-13)
FIG. 16 Australia’s Conventional and Unconventional Resources
FIG. 17 Crude oil Production Vs Consumption (2006-13)
FIG. 18 Crude Oil Production Vs Consumption (2006-13)
FIG. 19 Project Timelines : Al Lajjun Project
FIG. 20 Financing Mix : Al Lajjun Project
FIG. 21 Capital Cost Breakdown: Al Lajjun Project
FIG. 22 Operating Cost Breakdown: Al Lajjun Project
FIG. 23 Oil Shale Conversion Technologies
FIG. 24 Technological Challenges and Approaches Adopted
FIG. 25 Schematic Representation of Shell’s ICP Process
FIG. 26 Schematic Representation of Petrosix Retort
FIG. 27 Economical & Environmental Assessment of EcoShale Process
FIG. 28 Economical and Environmental Assessment of EcoShale Process
FIG. 29 Technology Comparison
FIG. 30 Market Attractiveness: Global Oil Shale Market
FIG. 31 Global Oil Shale Market Volume Share, by Process Segment, 2013 & 2022 (Million Barrels)
FIG. 32 Global Oil Shale Ex-situ Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 33 Global Oil Shale In-situ Process Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 34 Global Oil Shale Market Volume Share, by Application Segment (Without Electricity), 2013 & 2022 (Million Barrels)
FIG. 35 Global Oil Shale Non-upgraded Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 36 Global Oil Shale Upgraded Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 37 Global Oil Shale Electricity Application Segment Market Estimates and Forecast, 2013 – 2022 (USD Million) (MWh)
FIG. 38 Global Oil Shale Market Volume Share, by Region, 2013 and 2022 (Million Barrels)
FIG. 39 North America Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 40 Europe Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 41 Latin America Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 42 Asia Pacific Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 43 Australia Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 44 China Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 45 Middle East & Africa (MEA) Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 46 Jordan Oil Shale Deposits
FIG. 47 Jordan Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)
FIG. 48 Morocco Oil Shale Market Estimates and Forecast, 2013 – 2022 (USD Million) (Million Barrels)

List of Tables

TABLE 1 Global Oil shale Market Snapshot
TABLE 2 Market Drivers Of Global Oil Shale Market: Impact Analysis
TABLE 3 Market Restraints Of Global Oil Shale Market: Impact Analysis
TABLE 4 General Characteristics of Oil Shale and Semicoke
TABLE 5 List of major companies developing In-situ technology
TABLE 6 List of Countries by Refining Capacities (2012)
TABLE 7 Overseas Assets of ONGC Videsh Limited
TABLE 8 List of major companies in U.S. developing in-situ technology
TABLE 9 North America Oil Shale Process Segment Market Volume Estimates and Forecast, 2013 – 2022, (Million Barrels)
TABLE 10 North America Oil Shale Process Segment Market Revenue Estimates and Forecast, 2013 – 2022, (USD Million)
TABLE 11 North America Oil Shale Application Segment Market Volume Estimates and Forecast, 2013 – 2022, (Million Barrels)
TABLE 12 North America Oil Shale Application Segment Market Revenue Estimates and Forecast, 2013 – 2022, (USD Million)
TABLE 13 Europe Oil Shale Process Segment Market Volume Estimates and Forecast, 2013 – 2022, Million Barrels
TABLE 14 Europe Oil Shale Process Segment Market Revenue Estimates and Forecast, 2013 – 2022, USD Million
TABLE 15 Europe Oil Shale Application Segment Market Volume Estimates and Forecast, 2013 – 2022, Million Barrels
TABLE 16 Europe Oil Shale Application Segment Market Revenue Estimates and Forecast, 2013 – 2022, USD Million
TABLE 17 Europe Oil Shale Application Segment (Electricity) Market Estimates and Forecast, 2013 – 2022 (MWh) (USD Million)
TABLE 18 Oil Shale Power Plants (Snapshot)
TABLE 19 Latin America Oil Shale Process Segment Market Volume Estimates and Forecast, 2013 – 2022 (Million Barrels)
TABLE 20 Latin America Oil Shale Process Segment Market Revenue Estimates and Forecast, 2013 – 2022 (USD Million)
TABLE 21 Latin America Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (Million Barrels)
TABLE 22 Latin America Oil Shale Application Segment Revenue Market Estimates and Forecast, 2013 – 2022 (USD Million)
TABLE 23 Asia Pacific Oil Shale Process Segment Market Volume Estimates and Forecast, 2013 – 2022, Million Barrels
TABLE 24 Asia Pacific Oil Shale Process Segment Market Revenue Estimates and Forecast, 2013 – 2022, USD Million
TABLE 25 Asia Pacific Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (Million Barrels)
TABLE 26 Asia Pacific Oil Shale Application Segment Market Revenue and Forecast, 2013 – 2022 (USD Million)
TABLE 27 Asia Pacific Oil Shale Electricity Application Segment Market Estimates and Forecast, 2013 – 2022 (MWh) (USD Million)
TABLE 28 Australia Oil Shale Process Segment Market Volume and Forecast, 2013 – 2022 (Million Barrels)
TABLE 29 Australia Oil Shale Market Process Segment Market Revenue and Forecast, 2013 – 2022 (USD Million)
TABLE 30 Australia Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (Million Barrels)
TABLE 31 Australia Oil Shale Application Segment Market Revenue Estimates and Forecast, 2013 – 2022 (USD Million)
TABLE 32 Shale Oil Plants: China (2011)
TABLE 33 China Oil Shale Process Segment Market Volume Estimates and Forecast, 2013 – 2022 (Million Barrels)
TABLE 34 China Oil Shale Process Segment Revenue Market Estimates and Forecast, 2013 – 2022 (USD Million)
TABLE 35 China Oil Shale Application Segment Market Estimates and Forecast, 2013 – 2022 (Million Barrels)
TABLE 36 China Oil Shale Application Segment Market Revenue Estimates and Forecast, 2013 – 2022 (USD Million)
TABLE 37 Middle East and Africa (MEA) Oil Shale Process Segment Market Volume Estimates and Forecast, 2013 – 2022, Million Barrels
TABLE 38 Middle East and Africa (MEA) Oil Shale Process Segment Market Revenue Estimates and Forecast, 2013 – 2022, USD Million
TABLE 39 Middle East and Africa (MEA) Oil Shale Application Segment Market Volume and Forecast, 2013 – 2022, (Million Barrels)
TABLE 40 Middle East and Africa (MEA) Oil Shale Application Segment Market Revenue Estimates and Forecast, 2013 – 2022, (USD Million)
TABLE 41 Middle East and Africa (MEA) Electricity Application Segment Market Estimates and Forecast, 2013 – 2022 (MWh) (USD Million)
TABLE 42 Jordan Oil Shale Process Segment Market  Volume and Forecast, 2013 – 2022 (Million Barrels)
TABLE 43 Jordan Oil Shale Process Segment Market Revenue and Forecast, 2013 – 2022 (USD Million)
TABLE 44 Jordan Oil Shale Application Segment Market Volume and Forecast, 2013 – 2022 (Million Barrels)
TABLE 45 Jordan Oil Shale Application Segment Market Revenue and Forecast, 2013 – 2022 (USD Million)
TABLE 46 Morocco Oil Shale Process Segment Market Volume and Forecast, 2013 – 2022 (Million Barrels)
TABLE 47 Morocco Oil Shale Process Segment Revenue Market Estimates and Forecast, 2013 – 2022 (USD Million)
TABLE 48 Morocco Oil Shale Application Segment Market Volume and Forecast, 2013 – 2022 (Million Barrels)
TABLE 49 Morocco Oil Shale Application Segment Market Revenue and Forecast, 2013 – 2022 (USD Million)

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Free Market Analysis



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.

Process segmentation comprises two methods that are used to extract shale oil from the oil shale i.e. in-situ and ex-situ retorting. As the name suggests, in in-situ processing, the useful components of oil shale can be extracted underground using newer technologies. The in-situ processing is still under development, with several companies performing experimental research and development for its commercialization. A form of in-situ technology, also known as the hybrid or modified in-situ is likely to be commercialized within the forecast period. This hybrid technology by Red Leaf Resources is considered in the in-situ segment. Oil shale ex-situ processing has been practiced for over a century in different parts of the world. Oil shale projects based on this technique have been operating for decades in countries such as Estonia, China, and Brazil. Oil shale is mined and then transported for ex-situ processing, which involves pyrolyzing of oil shale to yield shale oil. Currently, oil shale is mostly extracted utilizing the ex-situ technology. Several companies including Petrobras and Eesti Energia have expertise in ex-situ retorting and utilize it to produce shale oil.

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. 

China currently leads in terms of shale oil production from the oil shale. The country has a large number of Fushun retorts, processing oil shale to produce shale oil. Moreover, Australia is expected to start producing shale oil from the oil shale which would boost the overall production of the Asia Pacific region. Asia Pacific is closely followed by Europe. Estonia, which is utilizing oil shale as a source of energy since 1920s, has expertise in the conversion of oil shale into shale oil. However, lack of planned projects in Europe in the upcoming years is expected to reduce the market share of the region considerably. The Middle East and Africa regional segment includes the estimates and forecasts of Jordan and Morocco. Both countries are striving to reduce their energy import bills and attain energy security. Thus, several projects are expected to kick-start in these countries in the near future. Brazil is the only player in Latin America that holds significant oil shale reserves and utilizes them to produce shale oil. Petrobras, the national oil company of Brazil, utilizes its patent Petrosix technology to produce shale oil from oil shale. In North America, there are a significant number of oil shale reserves in Canada and the U.S. However, only the U.S. is expected to produce oil shale commercially before 2022.

Global Oil Shale Market Estimates and Forecast, by Technology Segment, 2013 and 2020 (USD Million)

oil-shale-market

 

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