Shale oil rapidly emerging as significant and relatively low cost new unconventional resource in US: Ramachandra Murthy

Chandigarh, December 27, 2014:  Indian Institute of Chemical Engineers (IIChE) President Ch.V. Ramachandra Murthy today said that Shale oil is rapidly emerging as a significant and relatively low cost new unconventional resource in the US and the potential emergence of Shale oil presents major strategic opportunities and challenges for the oil and gas industry and the governments.

IIChE President Prof Ch.V.R.Murthy was delivering the presidential address at Dr SS Bhatnagar University Institute of Chemical Engineering & Technology (UICET), Panjab University (PU) Campus here today. In his presidential address, Prof Murthy was referring to alternatives to fuel and the potential of Shale Oil in replacing

conventional fuels.

First session of CHEMCON-2014 was chaired by VRC Murthy and PU Vice Chancellor, Arun K Grover.  NK Jha and Prof. NP Jain co-chaired the session. Renowned scientist and Institute of Chemical Technology, Mumbai Vice Chancellor Prof G D Yadav, Prof S K Sharma and Prof. VK Rattan also participated in the session.

Murthy said that the production of Shale Oil from Oil Shale, basically a rock containing certain organic materials, can replace crude oil. The production of Shale Oil has already found its foot in the United States and is expanding at a good rate there because of a fairly large abundance of the deposits of Oil Shale in the US, he added. He

talked of the capability of the alternative in revolutionising global energy market, both economically and politically. 

 Murthy said that Shale Oil production could also influence the dynamics of geopolitics as it increases energy independence for many countries and reduces the influences of OPEC. Shale Oil production can acquire almost 12 percent of the fuel sector of the world, he added. 

Apart from energy sector, he talked of alternative to conventional fertilisers, important one of which is Phosphorus Rich Organic Manure(PROM) which could replace DAP and hence unload the subsidy burden on the government hence discussing economic potential of the manure.

Murthy described chemical engineering as the most versatile branch of engineering, which has the potential to influence the lifestyle and the economy of the nation.

(SK Vyas/Jalandhar)  

-----------------------------

Readers may send their news/views/feedback to us:

-----------------------------

Join us on facebook (fb): www.facebook.com/cityairnews