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 carbo ...

. 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 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 This is a list of countries by natural gas exports mostly based on The World Factbookbr> For informational purposes several non-sovereign entities are also included in this list. * See too * List of countries by natural gas exports * List ...

. 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. ...

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 Gazprom Neft (russian: Газпром Нефть; formerly Sibneft, russian: Сибнефть, link=no), is the third largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom, which owns about ...

and

Tatneft Tatneft (russian: публичное акционерное общество «Татнефть» имени В.Д. Шашина or ПАО «Татнефть» им. В.Д. Шашина; traded as: (ordinary shares), (preferred shares), (ADRs)) ...

.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 The Caspian Pipeline Consortium (CPC) is a consortium and an oil pipeline to transport Caspian oil from Tengiz field to the Novorossiysk-2 Marine Terminal, an export terminal at the Russian Black Sea port of Novorossiysk. It is one of the world's ...

) are owned and operated by the state-owned monopoly

Transneft Joint Stock Company Transneft (russian: Транснефть) is a state-controlled pipeline transport company headquartered in Moscow, Russia. It is the largest oil pipeline company in the world. Transneft is operating over of trunk pipeline ...

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 Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The ...

Northgas ZAO Northgas (russian: ЗАО Нортгаз) is a natural gas-producing company in Russia. It is a developer of the North-Urengoy (Severo-Urengoyskoye) gas field in the Yamalo-Nenets region. According to DeGolyer and MacNaughton, it controls a ...

(Russia's pipeline monopoly) * Bashneft (Russian oil refining company one of the largest producer of oil products in the country) *

Russneft Russneft () is a Russian oil company headquartered in Moscow which was established by Mikhail Gutseriev in 2002. It is a member of the SAFMAR industrial and financial group. Background Russneft was founded in September 2002 by Mikhail Gutserie ...

Itera ARETI International Group of Companies is a private energy company headquartered in Geneva, Switzerland. ARETI was created by Igor Makarov in 2015 as a result of rebranding of Itera International Group of Companies, which was started in 1992. T ...

Novatek Novatek (russian: ПАО «НОВАТЭК», , ) is Russia's second-largest natural gas producer (behind Gazprom), and the seventh-largest publicly traded company globally by natural gas production volume. The company was originally known as OAO F ...

Rusneftegaz Rusneftegaz () is a Russian oil company headquartered in Moscow, specializing in the extraction, production, and sale of petroleum and petroleum products. As of 2021, Rusneftegaz is the largest privately owned oil company in Russia in terms of ...

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 univer ...

(

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 millio ...

) *

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 ...

(RAN). * Tyumen State Oil and Gas University

Tyumen Tyumen ( ; rus, Тюмень, p=tʲʉˈmʲenʲ, a=Ru-Tyumen.ogg) is the administrative center and largest city of Tyumen Oblast, Russia. It is situated just east of the Ural Mountains, along the Tura River. Fueled by the Russian oil and gas in ...

) *

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)

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, July 2004. {{DEFAULTSORT:Petroleum Industry in Russia

Investment and sanctions

Russia's oil and gas companies

Academic institutions

See also

References

External links