19 February 2015
BP sees US shale output holding steady
The company's Energy Outlook 2013-35 released the predictions this week
US shale production will remain near present levels for the next 20 years, but a slowdown in output from 2035 will see demand for Opec crude rise, BP said in its Energy Outlook 2013-2035, released earlier this week. However, the report played down unconventional potential outside the US, saying it is unlikely that any significant shale production will come on stream in the UK and continental Europe, for example, for at least two decades. BP’s chief economist Spencer Dale said that the US’ unique regulatory and political environment, as well as its geology and legacy onshore infrastructure, had fostered the rapid growth of the country’s unconventionals sector. He added: “Our view is that the
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