Explore the differences between shale oil and conventional oil, including extraction costs and methods, and how these impact oil market profitability.

At present, oil extraction in the United States sits at record levels of roughly 13.2 million barrels per day. No wonder oil is so expensive. Wait, what’s that you say? U.S. extraction at record levels is causing oil prices to rise? Aren’t oil prices a ...

Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined. That's not science fiction. Trapped in limestone up to 200 feet thick in the two ...

With the world’s reserves of light oil diminishing, oil companies are increasingly turning to heavier varieties – which make up 70% of global oil reserves – to meet rising energy demands. Existing extraction technologies for heavy oil are, however ...

PHNOM PENH, Cambodia (AP) — Cambodian Prime Minister Hun Sen said Tuesday that the country’s long-awaited first commercial extraction of oil has finally begun. Speaking nationwide on state television, Hun Sen said the first drop of oil was extracted on ...

Exxon Mobil, Chevron and Occidental Petroleum are betting big on emerging technologies to extract lithium from drilling wastes and salt flats. Since oil and gas drilling began nearly 150 years ago, the salty wastewater it produces has been a nuisance for ...

The number of employees in the oil and gas extraction industry has dropped by thousands since the start of the year, data on the U.S. Bureau of Labor Statistics website shows. Image by BitsAndSplits via iStock The number of employees in the oil and gas ...

Venezuela’s oil reserves, the largest in the world, are also among the dirtiest, writes Chelsea Harvey. The South American crude is unusually heavy and requires an energy-intensive extraction process with relatively high levels of pollution as a result.