Back toour markets

Russia Overview

Russia

in figures

Oil reserves107.8 billion barrels

Oil production10.7 million bopd

Gas reserves37.4 tcm

Gas production638.5 bcm

Russia: Unconventional Directions

With a hydrocarbons landscape consisting mostly of ageing oil and gasfields, Russia is funnelling its efforts into further development of brownfields and the exploration of unconventional greenfields that were previously not viable. With the world’s second-largest natural gas reserves – estimated at 35 tcm (1,235 tcf) – Russia is also the second-largest producer of dry natural gas, with an output of 635.6 bcm (22.4 bcf) in 2017.

Most of Russia’s production remains dominated by domestic firms, the largest being Rosneft and Lukoil. Following the collapse of the Soviet Union, Russia initially privatised its oil industry, but its oil and gas sector has since reverted to state control.

Technological development and co-operation with foreign companies are reinvigorating Russia’s manufacturing industry. New techniques are extending the lives of Russia’s ageing oilfield equipment, yet domestic manufacturers often lack the capacity to develop the requisite technologies. This has provided a market for companies from abroad to meet Russia’s evolving technological demands.

Ukraine war reviving Europe’s interest in African oil and gas
NEWS
Multinational - July 25, 2022

The war in Ukraine has renewed European interest in investing in African oil and gas projects, according to a report from…

READ MORE
Iran and Russia partner to develop hydrocarbons assets
NEWS
Iran - July 20, 2022

National Iranian Oil Company has signed an MoU with Russia’s Gazprom to develop key oil and gas assets in Iran, the NOC…

READ MORE
UNOC eyes a greater role in Uganda’s oil transformation Emmanuel KATONGOLE
Interview
Uganda - July 05, 2022

Emmanuel Katongole, chairman of Uganda National Oil Company (UNOC), talks to The Energy Year about the company’s plans to grow…

READ MORE
Natural gas vehicles on the rise in Mexico AMGNV GNV Andrés BAYONA INSIGNARES
Interview
Mexico - July 01, 2022

Andrés Bayona Insignares, president of the Mexican Association of Natural Gas Vehicles (AMGNV), talks to The Energy Year about…

READ MORE

Russia maps

Republic of Tatarstan oilfields and infrastructure 2020

ALL MAPS
Complete solutions for Mexico’s gas infrastructure GENSA Oscar MENDOZApsd
Interview
Mexico - June 29, 2022

Oscar Mendoza, gas director for Mexico and Central America of Gasoductos y Estaciones del Norte (GENSA), talks to The Energy…

READ MORE
Egypt and Israel sign gas trade deal with the EU
NEWS
Egypt - June 17, 2022

Egypt and Israel have signed an MoU with the EU to expand LNG exports to Europe, Reuters announced on Thursday.

The agreement…

READ MORE
Articles
Azerbaijan - May 25, 2022

Baku Energy Week is the Caspian region’s most prestigious event in the oil and gas and energy sector.

READ MORE

 

WHOSE PLATFORM IS THIS?
ASK US

  • Do you have a question for The Energy Year about oil and gas?
  • If we know, we’ll tell you.
  • If not, we’ll ask the experts in the field.