Russia has world’s largest shale oil resources, EIA saysJune 11, 2013 - 19:36 AMT PanARMENIAN.Net - Russia has the world’s largest identified shale oil resources, with the United States and China second and third, the US Energy Information Administration (EIA) said on Tuesday, June 11 citing data from various published studies, according to RIA Novosti. Russia boasts 75 billion barrels of technically recoverable shale oil resources, followed by the United States with 58 billion barrels and China with 32 billion barrels, the EIA report says. Russia’s richest shale oil source is the Bazhenov formation in West Siberia with total reserves estimated at 1.24 trillion barrels, of which only 74.6 billion barrels are currently considered as technical recoverable. The top ten countries by shale oil reserves also include Argentina (27 billion barrels), Libya (26 billion barrels), Venezuela (13 billion barrels), Mexico (13 billion barrels), Pakistan (9 billion barrels), Canada (9 billion barrels) and Indonesia (8 billion barrels). Global shale oil resources are estimated at 345 billion barrels, which represents about 10 percent of the world’s recoverable crude oil, the reports says. Russia ranks only ninth by technically recoverable shale gas reserves with 5.7 trillion cubic meters - the top three countries are China, Argentina and Algeria. Global shale gas resources are estimated at 145.98 trillion cubic meters or 32 percent of the world’s natural gas technically recoverable resources, the report said. Currently, only the United States and Canada are producing shale oil and shale gas in commercial quantities. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. Armenia: Protesters march to parliament, some spend the night on street The protesters did not disperse despite heavy rain that began at around 2 a.m. local time. |