The investigation of new energy sources become one of the world tasks in the last decades. Oil shale is one of the promising energy sources and widespread in many parts of Egypt. So, this work was conducted to investigate hydrocarbon potentiality, geochemistry and environmental impact of Magharet El Maiah Formation black shale, Southwest Sinai. This shale is of Carboniferous ageand composed mainly of kaolinite, montmorillonite and illite in a decreasing order with quartz and pyrite as non-clay minerals.They are deposited under oxic non-marine condition. Chemical analysis revealed that paleo-redox elements for the studied area were deposited under oxic environment and subjected to highly intensive chemical weathering.The calculated pollution indices indicated the mostly studied Black shale isn't polluted. However, the studied black shale is enriched with some economic trace elements than the UCC and PAAS, especially Pb.All the studied samples are of indigenous origin. The organic richness of the studied samples ranges from fair to excellent total organic carbon content. The kerogen type is III; the organic matter reaches the overmature stage and can be generate dry gas.