Related Articles
Forward article link
Share PDF with colleagues

Politics thwarting Europe's unconventional oil

The continent has indigenous reserves to exploit. But it also has a lot of opposition to overcome

Global shale oil production could reach 14 million barrels of oil per day (b/d) by 2035, according to PricewaterhouseCoopers, making up around 12% of total global oil supply. And it would be a boon for Europe's hard-pressed economies. Germany and the UK could see GDP gains of between 2-5% on the back of a surge in shale oil production, the consultancy believes. But this is because global oil prices would fall - helping the balance sheets of importing nations - not because European countries will jump aboard the tight oil bandwagon. Europe's share of global output is likely to remain negligible, as limited data and opposition to hydraulic fracturing (fracking) stalls development. It's not t

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad