Increasing industrial growth and population have surged the need for fossil fuels across the world. Oil shale has the potential fulfill the future energy needs of the world. Oil shale is actually a turbid rock that contains kerogen which can produce both electricity and shale oil. Processing oil shale will ensure energy preservation and also generate employment avenues thus contributing towards both economy and society. Oil shale is mainly utilized as a fuel in thermal power plants and making variety of materials such as glass, fertilizers, and carbon black among others.
The global oil shale market stood at a valuation of US$ 1,134.60 million in 2013 and is expected to reach the valuation of US$ 7,400.70 by 2022. This progress is expected to be achieved at a healthy CAGR of 27.34% from 2014 to 2022.
Oil shale process segmentation involves two methods that are utilized to derive shale oil from. The methods involved are ex-situ and in-situ retorting. Ex-situ processing of oil shale has been carried out for over hundred years in different countries across the world. The oil shale is first mined and then moved for ex-situ processing. The procedure involves pyrolyzing oil shale to produce shale oil. Presently, most of the oil shale is extracted using the ex-situ processing method. On the other hand, newer technologies are used to extract the useful components of oil shale in the in-situ process. The process of in-situ extraction is still developing with many different companies experimenting with the process and carrying out research and development for its marketing in the forecast period.
The in-situ extraction technology can be further segmented into modified in-situ and true in-situ retorting technology. Modified in-situ extracting technology was first invented by Occidental Petroleum and it involves creation of void by fracturing the oil shale deposits. On the other hand, true in-situ extracting process involves subjecting oil shale rocks to high temperatures after fracturing the rocks. By subjecting these rocks to such high temperatures makes them suitable for pyrolysis which allows the production of the shale oil. Red Leaf Resources is anticipated to progress in the market during the forecast period with the help of its hybrid EcoShale In-Capsule technology.
In terms of geographical regions, the global oil shale market is divided in five regions such as Asia Pacific, the Middle East & Africa, Europe, South America and North America. Presently, China is leading the market in terms of producing shale oil from oil shale. China has a large sum of Fushun retorts that process oil shale to derive shale oil. Australia is expected to follow China in the production and surge up the overall production of the shale oil in Asia Pacific.
Europe closely follows Asia Pacific with Estonia being the leading expert in converting oil shale to shale oil since early 1920s. But lack of planned projects across Europe in the forecast period is expected to have a negative impact on the market share generated by the region.
Jordan and Morocco are the leaders in the Middle East & Africa region. Both the nations are working hard towards reducing the burden on their economy due to energy import and achieve energy security. This is the primary reason behind initiation of several new projects in the region in the near future.
South America region has Brazil as the only recognized contributor to the oil shale market. Brazil has significant reserves of oil shale and uses its patented Petrosix technology to produce shale oil from it. On the other hand, even though Canada has a good number of reserves of oil shale, only the US is anticipated to derive oil shale commercially before 2022.
1. Preface
1.1. Report Description
1.2. Research Scope
1.3. Market Segmentation
1.4. Research Methodology
2. Executive Summary
3. Global Oil Shale Market - Industry Analysis
3.1. Introduction
3.2. Value Chain Analysis: Global Shale Market
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
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)
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)
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)
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
9. Primary Research Key Findings
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)
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)
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