Sat, 19 May 2012 03:07:11 CDT
Mamdouh Salameh , a World Bank consultant on oil and energy, has said oil shale is the ?saviour? of the Jordanian economy, Jordan Times has reported. The kingdom has oil shale deposits exceeding 50 billion tonnes, 10% of which can be extracted and utilised to generate around 35 billion barrels, which Salameh said is larger than the US oil reserves. ?Jordan is not an oil-poor country. But it needs the political will and transparency to extract these large deposits,? Salameh said, adding that the cost of extracting oil shale in Jordan would be around $1bn, which is only 22% of the Kingdom?s $4.8bn oil imports bill.
Read full article at: ameinfo.com