Petroleum industry in Russia

Graph of Top Oil Producing Countries 1960-2006, including Russia^[1]

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. It has the second largest coal reserves, the eighth largest oil reserves, and is the largest exporter of oil.^[2] It is the third largest energy user.^[3]

Russia is the largest oil producer in the world, producing an average of 9.93 million barrels (1,579,000 m³) of oil per day in 2009 for a total of 494.2 million tons.^[2] It produces 12% of the world's oil and has a same share in global oil exports.^[4] In June 2006, Russian crude oil and condensate production reached to the post-Soviet maximum of 9.7 million barrels (1,540,000 m³) per day. Exceeding production in 2000 by 3.2 Mbbl/d (510,000 m³/d). Russian export consists more than 5 Mbbl/d (790,000 m³/d) of oil and nearly 2 Mbbl/d (320,000 m³/d) of refined products, which go mainly to the Europe market. The domestic demand in 2005 was 2.6 Mbbl/d (410,000 m³/d) in averaged.^[5] It is also the main transit country for oil from Kazakhstan.

The Russian oil industry is in need of huge investment.^[6] Strong growth in the Russian economy means that local demand for energy of all types (oil, gas, nuclear, coal, hydro, electricity) is continuing to grow.

Russia's oil and gas companies

The biggest Russian oil company is Rosneft followed by Lukoil, TNK-BP, Surgutneftegaz, Gazprom Neft and Tatneft.^[7] 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.

• Gazprom (Russia's state-run natural gas monopoly; world's biggest gas exploration and production company)
• Lukoil (Russia's largest oil company and its largest producer of oil)^{[citation needed]}
• Rosneft (State-owned Russian oil and gas exploration company)
• TNK-BP (created via 2003 merger of BP Russian operations with Tyumen Oil Company)
• Surgutneftegas
• Tatneft
• Northgas
• Transneft (Russia's pipeline monopoly)
• Bashneft (Russian oil refining company one of the largest producer of oil products in the country)
• Russneft
• Itera
• Novatek

See also

• Energy policy of Russia
• Oil reserves in Russia
• Energy policy in the Soviet Union

References

1. ^ http://www.eia.doe.gov/emeu/aer/pdf/pages/sec11_10.pdf
2. ^ ^{a b} Russian Oil Output Climbed 1.2 Percent in 2009 Bloomberg Retrieved on January 2, 2010
3. ^ Russia, Background, February 2005. U.S. Department of Energy
4. ^ Key World Energy Statistics. 2006 Edition, International Energy Agency 2006
5. ^ Woodruff, Yulia (2006). "Russian oil industry between state and market". Fundamentals of the global oil and gas industry, 2006. Petroleum Economist. ISBN 9781861862662. 
6. ^ 'Threat' to future of Russia oil - Lukoil, April 2008.
7. ^ LUKoil to lose the lead soon. Rosneft will become Russia’s leading oil producer in 2007, Analytical department of RIA RosBusinessConsulting

External links

• Country Analysis: Russia's Oil and Natural Gas: Oil Exports and Russia's Evolving Oil and Natural Gas Industry Structure.
• "Major Russian Companies: Some Details" (1995-1996), Joint Project by Expert Magazine and Menatep Bank, undated.
• "Russia's oil renaissance," BBC, June 24, 2002.
• History of Oil in Russia, Sibneft, 2003.
• "The Oil and Gas Industry": 1999-2000 and 2000-2004, Kommersant, October 23, 2001 and May 17, 2004.
• David Correll, "Russia: the new oil giant. An industry perspective," AMEC, July 2004.