NEW YORK – Shale-based resources increase the world’s total potential oil reserves by 11 percent and natural gas by 47 percent, according to a U.S. report released Monday.
In an initial assessment of shale oil resources and an update of shale gas reserves, the U.S. Energy Information Agency said shale deposits could add 345 billion barrels of oil to global reserves, increasing the total to 3,357 billion barrels.
Shale gas adds 0.206 trillion cu. meters of natural gas, or 32 percent of the world total, the EIA report estimated.
In addition to the U.S., other countries with large shale resources include Russia, China, Argentina, Algeria and Libya.