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China to be world’s 2nd largest shale gas producer by 2040; global shale output to quadruple: EIA

China is expected to produce over 20 billion cubic feet of shale gas per day (Bcf/d) by 2040, becoming the world’s second largest producer after the United States, according to the US Energy Information Administration (EIA). The production will account for more than 40% of the country’s total natural gas production by 2040, the EIA…

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Study finds Canada’s Liard Basin among world’s biggest shale gas resources

Northwest Canada’s remote Liard Basin is the world’s ninth largest shale gas resource, according to a new assessment released by Canadian regulators, although it may take years to develop given depressed global energy prices. The basin, mostly situated in British Columbia but also straddling the Yukon and Northwest Territories borders, is estimated to contain 219…

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Argentina, China lead shale development outside North America

As recently as last year, only four countries in the world were producing commercial volumes of either natural gas from shale formations (shale gas) or crude oil from tight formations (tight oil): the U.S. and Canada, and more recently, Argentina and China. Beyond these four countries, other countries have started exploring hydrocarbons from shale and…

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US slips past Russia as World’s top gas producer, but Russia reserves up – BP data

The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields. U.S. oil production rose to a record last year, growing by 1.6 million barrels a day, according to BP Plc’s Statistical Review of World Energy…

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Canadian shale field could rival the Bakken but won’t produce anytime soon

The Canadian oil industry is associated mostly with the bitumen recovered from reserves such as the Alberta tar sands, but recent data from the National Energy Board (NEB) and the Northwest Territories Geological Survey has revealed a shale oil reserve that could rival the Bakken formation. The massive, untapped oil reserve could hold upwards of…

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