Transparency Market
Research Reports incorporated a definite business overview and investigation
inclines on "Tight Oil Market ".
This report likewise incorporates more illumination about fundamental review of
the business including definitions, requisitions and worldwide business sector
industry structure.
Wide number of applications, increasing energy
demand, Depleting conventional oil and gas reserves, concerns related to energy
security, advancement in exploration and production techniques are some of the
major factors driving tight oil market. Whereas, lack of modern technology in
emerging countries, high capital requirement and negative environmental impacts
are some of the factors restraining the growth of this market.
The study published in the
journal Energy Policy by the researchers from the University of Oxford, stated
that the demand for oil would surpass the supply by 2015. Another study by the
Energy Information Administration (EIA) in 2006, predicted that the world oil
consumption will increase to 98.3 million barrels per day in 2015 and about 130
million barrels per day by 2030. Numerous research studies along with these two
have posed the questions over the longevity of world crude oil reserves.
Keeping the above facts in mind the tight oil which is also known as the shale
oil can act as a substitute to the depleting crude oil and natural gas reserves
which may have a positive impact on the tight oil market.
Segmentation of the tight oil market can be done on the basis of the technology, applications, location of tight oil reserves and the tight oil producing countries. The tight oil exploration technique is similar to the technique used for the exploration of shale gas. Tight oil is extracted using hydraulic fracturing of the sedimentary rocks. In hydraulic fracturing liquid is (water) mixed with chemicals and sand and the resultant mixture (fluid) is injected with high pressure into the well. Water and sand constitute around 99.5% of the total fluid mixture. The high pressure stream breaks the non permeable sedimentary rocks that results in the outflow of the tight oil. Being similar to crude oil, when tight oil is refined it can act as a source of fuel and various chemicals. The main products include heavy fuel oil, light fuel oil gasoline, diesel, naphtha, methane, tar and others.
Geographical segmentation of the tight oil market can be done on the basis of location of the tight oil reserves and the tight oil producing countries. According to EIA major tight oil reserves (estimated) are located in the United States (48-58 billion barrels ), Mexico (13 billion barrels) and Canada (9 billion barrels) in North America, Russia (75 billion barrels) in Europe, China (32 billion barrels), Pakistan (9 billion barrels), Indonesia (8 billion barrels) and Australia in Asia Pacific (APAC), Libya (26 billion barrels) in Middle East and Africa (MEA) and Argentina (27 billion barrels) and Venezuela (13 billion barrels) in Rest of World (RoW). Major Tight oil producing Countries are the United States, Canada and Russia. According to EIA the United States contributes around 10.4% of total crude oil production out of which 4.3% (3.22 million barrels per day) is contributed by tight oil. According to EIA, In Canada the total tight oil production was 0.34 million barrels per day, which is around 10% of total crude oil production in Canada.
Segmentation of the tight oil market can be done on the basis of the technology, applications, location of tight oil reserves and the tight oil producing countries. The tight oil exploration technique is similar to the technique used for the exploration of shale gas. Tight oil is extracted using hydraulic fracturing of the sedimentary rocks. In hydraulic fracturing liquid is (water) mixed with chemicals and sand and the resultant mixture (fluid) is injected with high pressure into the well. Water and sand constitute around 99.5% of the total fluid mixture. The high pressure stream breaks the non permeable sedimentary rocks that results in the outflow of the tight oil. Being similar to crude oil, when tight oil is refined it can act as a source of fuel and various chemicals. The main products include heavy fuel oil, light fuel oil gasoline, diesel, naphtha, methane, tar and others.
Geographical segmentation of the tight oil market can be done on the basis of location of the tight oil reserves and the tight oil producing countries. According to EIA major tight oil reserves (estimated) are located in the United States (48-58 billion barrels ), Mexico (13 billion barrels) and Canada (9 billion barrels) in North America, Russia (75 billion barrels) in Europe, China (32 billion barrels), Pakistan (9 billion barrels), Indonesia (8 billion barrels) and Australia in Asia Pacific (APAC), Libya (26 billion barrels) in Middle East and Africa (MEA) and Argentina (27 billion barrels) and Venezuela (13 billion barrels) in Rest of World (RoW). Major Tight oil producing Countries are the United States, Canada and Russia. According to EIA the United States contributes around 10.4% of total crude oil production out of which 4.3% (3.22 million barrels per day) is contributed by tight oil. According to EIA, In Canada the total tight oil production was 0.34 million barrels per day, which is around 10% of total crude oil production in Canada.
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More Research Report on Energy and Mining Market:
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This research report analyzes this market depending
on its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This report is a
complete study of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis.
Download PDF: Global Tight Oil Market
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