LONDON, December 7, 2011 /PRNewswire/ --

Business Monitor International (BMI) has published its latest study; 'Technological Innovations Transform the Global Oil Market'. This comprehensive assessment seeks to address the key discussion points over the past decade. These include the rise and increasing assertiveness of NOCs, the geopolitical implications of the locations of major oil reserves and of course, the overarching issue of the security of supply of the industrialised world vis a vis the increasing demands from emerging markets.

Unconventional oil exploration has the potential to change the dynamics governing the entire market. Business Monitor International anticipates the successes recorded in North America and more recently Argentina with shale oil, exploration to catalyse the adoption of new technology for players across the world in the coming years.

With investment and R&D rapidly breaching technological barriers in shale oil, Business Monitor International predicts environmental legislation as being the main factor in determining the levels of global unconventional oil production. Alternatively, the costs and technical difficulties still associated with shale oil, will result in low volumes over the next decade.

Oil extraction technology is being pushed to its limits, which in turn has catalysed new technological innovations that seek to turn unrecoverable resources-in place to commercially viable reserves. Shale oil (aka tight oil) and oil shale now represent the next frontier for unconventional oil E&P.

BMI's portfolio of products provides comprehensive analysis across oil and gas industries which enable global investors, emerging market strategists and decision-makers across the corporate spectrum to assess and evaluate global political and economic risks and aid strategic planning activities over the short, medium and long term.

About Business Monitor International:

Business Monitor International established in 1984 with headquarters in London is recognised as a leading independent source for analysis and forecasts on Country Risk and Industry Analysis, spanning 175 countries. BMI provides research to multinational corporations, banks, funds, research centres and governments in 140 countries around the world, including more than 400 of the Fortune Global 500 companies.

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SOURCE Business Monitor International