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The petroleum industry in Russia is one of the largest in the world. Russia has the largest reserves and is the largest exporter of
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon d ...
. It has the second largest coal reserves, the sixth largest oil reserves, and is one of the largest producers of oil. It is the fourth largest energy user. Russia produced an average of of oil per day in December 2015.Russia continues to post record oil production
Retrieved on 8 January 2016
In 2009, it produced 12% of the world's oil and had a similar share of global oil exports.Key World Energy Statistics. 2006 Edition
,
International Energy Agency The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organisation, established in 1974, that provides policy recommendations, analysis and data on the entire global energy sector, with a recent focus on curbing car ...
2006
In June 2006, Russian crude oil and condensate production reached the post-Soviet maximum of per day. Exceeding production in 2000 by . Russian exports consist of more than of oil and nearly of refined products, which go mainly to the European market. The domestic demand in 2005 was on average. It is also the main transit country for oil from
Kazakhstan Kazakhstan, officially the Republic of Kazakhstan, is a transcontinental country located mainly in Central Asia and partly in Eastern Europe. It borders Russia to the north and west, China to the east, Kyrgyzstan to the southeast, Uzbeki ...
. Russia is by far the world's largest natural gas exporter. Most, but not all, authorities believe that Russia has the world's largest proven reserves of natural gas. Sources indicating Russia to have the largest proven reserves include the US CIA (47.6 trillion cubic meters), the US Energy Information Administration (47.8 tcm), and OPEC (48.7 tcm). However, BP credits Russia with only 31.3 tcm as of 1 January 2014, which would place it in second place, slightly behind Iran (33.1 to 33.8 tcm, depending on the source). In addition to having the world's largest proven reserves of natural gas, according to US Geological Survey estimations, Russia is also likely to have the world's largest volume of still-undiscovered natural gas: a mean probable volume of 6.7 trillion cubic meters. The USGS estimate of Russia's undiscovered oil is 22 billion barrels, second in the world only to those of Iraq.


Investment and sanctions

As of 2008, the Russian oil industry claims to be in need of huge investments.'Threat' to future of Russia oil
- Lukoil, April 2008.
Strong growth in the Russian economy means that local demand for all types of energy sources (oil, gas, nuclear, coal, hydro, electricity) continues to grow. The
2022 Russian invasion of Ukraine On 24 February 2022, in a major escalation of the Russo-Ukrainian War, which began in 2014. The invasion has resulted in tens of thousands of deaths on both sides. It has caused Europe's largest refugee crisis since World War II. A ...
resulted in sanctions imposed by the USA, the EU and other nations, to forbid or reduce the importation of Gas, Oil and associated products from Russia, including the introduction of a novel price cap on shipped oil, designed to allow Russia to maintain production but limiting the revenue from oil sales. From 5 December 2022 the price cap is set at USD60 pb.


Russia's oil and gas companies

The biggest Russian oil company is Rosneft followed by Lukoil, Surgutneftegaz, Gazprom Neft and Tatneft.LUKoil to lose the lead soon. Rosneft will become Russia's leading oil producer in 2007
Analytical department of RIA RosBusinessConsulting All oil trunk pipelines (except Caspian Pipeline Consortium) are owned and operated by the state-owned monopoly Transneft and oil products pipeline are owned and operated by its subsidiary
Transnefteproduct Transnefteproduct (Russian: Транснефтепродукт) is an operator of oil products pipelines headquartered in Moscow, Russia. It operates more than oil pipelines. It was established by the Government of the Russian Federation on 30 Au ...
. * Gazprom (Russia's state-run natural gas monopoly; world's biggest gas exploration and production company) * Lukoil * Rosneft (State-owned Russian oil and gas exploration company) * Surgutneftegas * Tatneft * Northgas * Transneft (Russia's pipeline monopoly) *
Bashneft Bashneft is a Russian oil company formed by the transfer of the oil related assets of the Soviet oil ministry in Bashkortostan to the regional government of the Republic of Bashkortostan by Boris Yeltsin Boris Nikolayevich Yeltsin ( rus, ...
(Russian oil refining company one of the largest producer of oil products in the country) * Russneft * Itera * Novatek * Rusneftegaz


Academic institutions

*
Gubkin Russian State University of Oil and Gas The Gubkin Russian State University of Oil and Gas (russian: Российский государственный университет нефти и газа имени И. М. Губкина) is a public university in Moscow, Russia. The univ ...
(
Moscow Moscow ( , US chiefly ; rus, links=no, Москва, r=Moskva, p=mɐskˈva, a=Москва.ogg) is the capital and largest city of Russia. The city stands on the Moskva River in Central Russia, with a population estimated at 13.0 million ...
) *
Saint Petersburg Mining Institute Saint Petersburg Mining University (russian: Санкт-Петербургский горный университет), is Russia's oldest technical university, and one of the oldest technical colleges in Europe. It was founded on October 21, ...
-Oil and Gas Department (Saint Petersburg) * Siberian Research Institute of Petroleum Industry (SibNIINP) * Russia Petroleum Research Exploration Institute (VNIGRI) of Ministry of Natural Resources and Ecology of the Russian Federation and the
Russian Academy of Sciences The Russian Academy of Sciences (RAS; russian: Росси́йская акаде́мия нау́к (РАН) ''Rossíyskaya akadémiya naúk'') consists of the national academy of Russia; a network of scientific research institutes from across t ...
(RAN). * Tyumen State Oil and Gas University Tyumen) *
Ufa State Petroleum Technological University Ufa State Petroleum Technological University (russian: Уфимский Государственный Нефтяной Технический Университет , УГНТУ) is a technical university in the city of Ufa. In October 1941, ...
* Almetyevsk State Petroleum Institute (
Almetyevsk Almetyevsk ( rus, Альме́тьевск, , ɐlʲˈmʲetʲjɪfsk; tt-Cyrl, Әлмәт, ''Älmät'') is a city in the Republic of Tatarstan, Russia, located on the left bank of the Zay River ( Kama's tributary) southeast of Kazan. Population ...
) *
Irkutsk National Research Technical University National Research Irkutsk State Technical University (full name in Russian: ''Иркутский национальный исследовательский технический университет''), formerly Irkutsk State Technical Uni ...
( Irkutsk)


See also

* Economy of Russia * Energy in Russia * Energy policy of Russia *
Oil reserves in Russia There have been widely varying estimates of proven oil reserves in Russia. Most estimates included only Western Siberian reserves, which have been exploited since the 1970s and supply two-thirds of Russian oil. However, there are potentially huge ...
* Russia in the European energy sector * Global warming in Russia *
Energy policy of the Soviet Union The energy policy of the Soviet Union was an important feature of the country's planned economy from the time of Lenin (head of government until 1924) onward. The Soviet Union was virtually self-sufficient in energy; major development of the energ ...
* 2022 Russian oil price cap


References


External links

*Al
Russian oil companies
on Russian Business Map MXKR.ru.
Country Analysis: Russia's Oil and Natural Gas


Joint Project by ''Expert Magazine'' and Menatep Bank, undated.
"Russia's oil renaissance,"
BBC, 24 June 2002.
History of Oil in Russia
Sibneft, 2003. *"The Oil and Gas Industry"
1999-2000
an
2000-2004
''Kommersant'', 23 October 2001 and 17 May 2004. *David Correll
"Russia: the new oil giant. An industry perspective,"
AMEC Amec Foster Wheeler plc was a British multinational consultancy, engineering and project management company headquartered in London, United Kingdom. In October 2017, it was acquired by Wood Group. It was focused on the Oil, Gas & Chemicals, M ...
, July 2004. {{DEFAULTSORT:Petroleum Industry in Russia