Scotland may hold billions of barrels of shale oil, report says

NOTTINGHAM, United Kingdom (Bloomberg) -- Scotland may have billions of barrels of shale oil buried under the country’s most densely populated areas, geologists said June 30. Scotland’s central belt, running between Glasgow and Edinburgh, may have 6 billion barrels of oil in place, according to a report by the British Geological Survey. While only a fraction of the resource will end up being viable, the deposits could supplement the UK’s 3 billion barrels of proven oil reserves, held mostly in North Sea fields off Scotland’s coast.

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