Shale oil extraction Energy estimates that the "ex-situ" processing would be economic at sustained average world oil prices above $54 per barrel and "in-situ" processing would be economic at prices above $35 per barrel. These estimates assume a return rate of 15%. Royal Dutch Shell announced in 2006 that its Shell ICP technology would realize a profit when crude oil prices are higher than $30 per barrel ($190/m), while some technologies at full-scale production assert profitability at oil prices even lower than $20 per barrel ($130/m). To increase the efficiency of oil shale retorting and by this the viability of the shale oil
Billionth Barrel Monument bar. The monument was designed by a local architect. Billionth Barrel Monument The Billionth Barrel Monument is a monument located in Seria, Brunei. The monument was built in 1991. It was commemorated by Hassanal Bolkiah on 18 July 1991. The monument commemorates the production of the billionth barrel of oil produced in the onshore oil field in Seria. The monument is located near the S-1, the first well discovered in Seria Oil Field. The well was discovered by Brunei Shell Petroleum in 1929. The monument is located 38 meters from S-1, which is now located on the beach. The only