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Oil shale reserves refers to oil shale resources that are economically recoverable under current economic conditions and technological abilities. Oil shale deposits range from small presently economically unrecoverable to large potentially recoverable resources.
OSLO, NORWAY–The United States now holds the world’s largest recoverable oil reserve base–more than Saudi Arabia or Russia–thanks to the development of unconventional resource plays.
Oil shale, despite the name, does not actually contain oil, but is a precursor of oil that is converted to crude oil when heated. This website contains assessments and geologic reports, as well as spatial and tabular datasets, fischer assays and well logs from USGS oil shale research studies.
Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.
As with all oil and gas resources, analysts distinguish between oil shale resources and oil shale reserves. "Resources" refer to all oil shale deposits, while "reserves" represent those deposits from which producers can extract oil shale economically using existing technology.
Here is a summary of the ten countries with the greatest technically recoverable shale oil resources worldwide, based on the EIA data.
More than half of the identified shale oil resources outside the United States are concentrated in four countries—Russia, China, Argentina, and Libya—while more than half of the non-U.S. shale gas resources are concentrated in five countries—China, Argentina, Algeria, Canada, and Mexico.
Oil shales are classified in three main types based on their mineral content: carbonate-rich shale, siliceous shale, and cannel shale. Carbonate-rich shale deposits have high amounts of carbonate minerals.
Proved reserves of crude oil and natural gas hit record highs for the United States in 2022. Oil highlights U.S. crude oil and lease condensate proved reserves increased 9% from 44.4 billion barrels to 48.3 billion barrels at year-end 2022 (Table 1).
The estimates of technically recoverable shale oil and shale gas resources summarized in Tables 1 and 2 and presented in country-level detail in Tables 3 and 4 represent risked resources for the formations reviewed. These estimates are uncertain given the relatively sparse data that currently exist. The