According to Visiongain, the sector will experience strong growth to at least 2022 as companies and governments around the world seek to profit from the vast potential of oil shale reserves.
“The global oil shale market is only commercially active in a handful of countries around the world. Most nations that have substantial reserves are looking to expand their domestic industry over the next decade as rising oil demand and high oil prices become an increasing burden for net-importers of oil,” according to Visiongain.
“The huge untapped reserves and the ongoing technological advancement, especially with in situ work, present a great opportunity for governments and private investors alike and will make oil shale an attractive alternative to other conventional and unconventional oil sources over the next decade.”
The report, Oil Shale Market 2012-2022, describes the oil shale market as a “rapidly developing energy sector”.
