July 12,2013 : Bharat Book Bureau presents the new report, on 'The Heavy Oil Market 2013-2023' With global oil demand continuing its inexorable rise and conventional light oil discoveries becoming less frequent, the oil industry is increasingly turning to alternative oil sources such as heavy oil. Although the cost of heavy oil production is greater than that of conventional oil and its carbon footprint is generally higher, the heavy oil market is set to play a larger role in global crude supply over the coming years. Current high oil prices and innovative technology are making an increasing number of heavy oil projects commercially viable, which is creating opportunities for a range of companies within the oil industry.
The global heavy oil market will see production of 6.659 million barrels per day in 2013. This includes all heavy oil with an API gravity of under 22° that is mobile or semi-mobile at reservoir conditions and with a viscosity of less than 10,000cP. This therefore includes heavy/extra-heavy oil operations in Canada and Venezuela, but excludes oil sands projects where bitumen is the primary target.
The majority of heavy oil development thus far has taken place in the Western Hemisphere, and cold and thermal heavy oil production will continue to expand in South America over the coming ten years. However a number of less established regions, such as the Middle East, are also set to register strong growth over the next ten years as countries seek to utilise their substantial heavy oil resources.
What makes this report unique?
Visiongain consulted widely with industry experts and the full transcript of an exclusive interview with Alex Damnjanovic, Chief Operating Officer of Kudu Industries Inc is included in the report. As such, reports have a unique blend of primary and secondary sources providing informed opinion. This approach allows insight into the key drivers and restraints behind market developments, as well as identifying the leading companies. The report also presents a unique blend of qualitative analysis combined with extensive quantitative data including global and regional production forecasts from 2013-2023 - all highlighting strategic business opportunities.
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