April 2007

Trends and Resources

HP Impact: HPImpact: Commodity prices push developments in unconventionals

Tightening global oil supply and regional squeezing of gas supply coupled with demand growth have resulted in increasing interest in exploiting unconventional hydrocarbons. Analysts with Wood Mackenzi..

Weirauch, Wendy, Hydrocarbon Processing Staff

Tightening global oil supply and regional squeezing of gas supply coupled with demand growth have resulted in increasing interest in exploiting unconventional hydrocarbons. Analysts with Wood Mackenzie define the key types of unconventional oil and gas to be heavy oil, tight gas, coal bed methane and shale oil. "The size of the of the unconventionals hydrocarbon prize is potentially enormous, approaching 3.6 trillion barrels of oil equivalent of resources globally," according to Phaedra Powilanska-Burnell, managing consultant for Wood Mackenzie. This is double the estimate of undiscovered conventional resources in the world, she says. By 2025 unconventional oil is expected to supply more

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