The total reserves of shale oil around the world could be high enough to trigger a rise in crude stocks on the planet, with one organisation suggesting the amount of crude is set to increase by 11 per cent. According to the Energy Information Administration, a US government department, there are some 345 billion barrels of shale oil that is described as "technically recoverable" in 41 nations on the planet. In addition to its upward effect on the crude resources, the presence of 7,299 trillion cubic feet of shale gas may drive a 47 per cent boost in natural gas resources. While it should be noted that "technically recoverable" reserves are not always guaranteed to be reached and added to supply, it is positive that such an amount of the material exists. Jan Stuart, head of energy research at Credit Suisse in New York, said: "The reserves are one thing, but the ability to scale up the production for those reserves is another thing, which is not as straightforward in many parts of the world as it has proved to be in the US." One of the most problematic areas is Poland, which is said to be home to ample potential supplies of shale oil. However, several companies have abandoned drilling projects in the country after realising extraction there is difficult. Reserves of shale oil and gas are likely to have a tremendous impact on markets around the world. One consequence could be an increase in oil and energy jobs in various countries, where the larger stocks can be accessed. It is Russia that currently tops the list of those countries with the greatest oil reserves, with the nation boasting 75 billion barrels. This put it ahead of the US, China and Argentina. Reuters noted that Algeria is a particularly fast-moving oil market, with its stocks said to have more than tripled since estimates were carried out in 2011, making it one of the world's most significant contributors.
A contractor has been named to transform a major railway station in Birmingham. West Midlands Combined Authority has appointed VolkerFitzpatrick to undertake the detailed design and build of the new £56m University Station. University Station in Vincent Drive, Edgbaston, has been earmarked
The Department for Transport (DfT) has committed £60m in funding for the A361 North Devon Link Road widening project in the South West. Works include widening of three sections of the Link Road, covering 7.5km, to create three traffic lanes, two in one direction and one in the other
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