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Oil extraction to increase from non-traditional sources during next years

29 April 2013 08:43 (UTC +04:00)

Baku. Ali Ahmadov – APA-Economics. During the next 20 years, oil production is expected to increase from non-traditional sources, BP’s forecasts by 2030 reported.

Note that non-traditional sources include oils from biofuel, shale oil and sand. According to report, share of non-traditional sources made 30% in 2000-2010. During the next 10 years, oil production will increase from non-traditional sources.

Thereafter, in 2020-2030, traditional oil production also will increase and 70% of growth will be formed by non-traditional sources.

BP experts say serious growth in share oil production in the US and Canada will continue during next 10 years. Oil production is expected to rise 7-8% every year. Experts say after 2020, shale oil production will extend in Russia and other countries. Consequently, 9% of oil production will fall to share of shale oil.