The significance of Oil shale in the oil and gas sector.

Oil shale can be defined as an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons, called shale oil can be produced. Not to be confused with tight oil—crude oil occurring naturally in shales, shale oil is an alternative for conventional crude oil. Though, in the oil and gas industry, extracting shale oil from oil shale is more costly than the production of conventional crude oil both financially and in terms of its environmental impact.
In oil and gas sector, 2016, estimate of global deposits set the total world resources of oil shale equivalent of 6.05 trillion barrels (962 billion cubic metres) of oil in place.  Deposits of oil shale take place around the world, including major deposits in the United States.
When oil shale is being heated to a sufficiently high temperature, it causes the chemical process of pyrolysis to yield a vapour. Cooling the vapour, the liquid shale oil—an unconventional oil—is separated from combustible oil-shale gas (the term shale gas can also refer to gas occurring naturally in shales).
 Oil shale can be burned directly in furnaces as a low-grade fuel for power generation and district heating. It can also be used as a raw material in chemical and construction-materials processing. Therefore, its significance cannot be overlooked in the oil and gas sector.
Oil shale gains consideration as a potential abundant source of oil whenever the price of crude oil rises in the oil and gas market. However, oil-shale mining and processing raise a number of environmental concerns, such as land use, waste disposal, water use, waste-water management, greenhouse-gas emissions and air pollution. In the oil and gas sector, well-established oil shale industries are common in Estonia , China , Brazil, Germany and Russia.
General composition of oil shales constitutes inorganic matrix, bitumens, and kerogen. And oil shales differ from oil-bearing shales, shale deposits that contain petroleum (tight oil) that is sometimes produced from drilled wells. The following are examples of oil-bearing shales: the Bakken Formation, Pierre Shale, Niobrara Formation, and Eagle Ford Formation.


Chemical composition of oil shale
Primary

§  Kerogen
§  Quartz
§  Feldspar
§  Clay
§  Carbonate
§  Pyrite

Secondary
§  Uranium
§  Iron
§  Vanadium
§  Nickel
§  Molybdenum


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