BP’s US$10.5bn acquisition of shale oil asset re-confirms the importance of shale oil in the energy market

Shale oil is the most significant development in the energy industry ever since coal was replaced by oil as the principal fuel. The noteworthy rise of shale oil extraction over the last few years has taken the market by surprise. The combination of drilling techniques together with developed hydraulic fracturing and the rebound of oil prices have made large volumes of shale oil production possible.

  Despite important innovations in green energies in recent years, fossil fuels like petroleum, natural gas, and coal represent the majority of the world’s energy. Over the past decades, the nuclear and hydropower sources have augmented their contribution to producing energy. Going ahead, the extraction of shale oil is anticipated to keep on rising however it will be directly dependent on the cash in-flow to finance the investments in the new wells.

Since energy is the foremost necessary foundations of the modern economy together with the moderating global oil demand, there is a relative stability on high demands in the future…

 

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