Oil industry of Russia

Oil industry of Russia

The oil industry of Russia is one of the largest in the world. Russia has the largest reserve, and is the largest exporter, of natural gas; the second largest coal reserves, and the eighth largest reserve, and is the second largest exporter, of oil. Russia is the third largest energy user. [http://www.eia.doe.gov/emeu/cabs/russia.html Russia, Background] , February 2005. U.S. Department of Energy]

Russia is the largest oil producer in the non-OPEC countries, and second biggest in the world after Saudi Arabia. [ [http://eneken.ieej.or.jp/en/data/pdf/311.pdf The Russian Oil Policies and Its Oil Industry Trends] , by Goichi Komori, Sanae Kurita and Keishi Nakashima, The Institute of Energy Economics, Japan, December 2005] It gives 12% of the global oil production and has a same share in the global oil export. [http://www.iea.org/textbase/nppdf/free/2006/key2006.pdf Key World Energy Statistics. 2006 Edition] , International Energy Agency 2006] In June 2006, Russian crude oil and condensate production reached to the post-Soviet maximum of 9.7 million barrels per day (b/d). Exceeding production in 2000 by 3.2 million b/d. Russian export consists more than 5 million b/d of oil and nearly 2 million b/d of refined products, which go mainly to the Europe market. The domestic demand in 2005 was 2.6 million b/d in averaged. [ [http://www.esai.com/pdf/Woodruff%20Russia%20PE.pdf Russian oil industry between state and market] , by Yulia Woodruff, Fundamentals of the Global Oil and Gas Industry 2006, Petroleum Economist] It is also the main transit country for oil from Kazakhstan.

The Russian oil industry is in need of tremendous investment, although the currently high oil prices mean that there are resources available for financing the upgrades needed. 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. [ [http://www.rbcnews.com/komment/komment.shtml?2007/01/11/31319500 LUKoil to lose the lead soon. Rosneft will become Russia’s leading oil producer in 2007] , Analytical department of RIA RosBusinessConsulting]

All oil trunk pipeline's (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 / [http://www.gazprom.com/ gazprom.com] (Russia's state-run natural gas monopoly; world's biggest gas exploration and production company)
*ITERA / [http://www.iteragroup.com/isp/eng/ iteragroup.com] (International Group of Companies)
*KMOC (Khanty Mansiysk Oil Corporation) / [http://www.kmoc.com/ Marathon Oil Company]
*LUKOIL Oil Company / [http://www.lukoil.com/ lukoil.com] (LangepasUraiKogalymneft) (Russia's largest oil producer) / [http://www.lukoil-overseas.com/ lukoil-overseas.com] (LUKOIL Overseas Holding Ltd. Corporate Center)
*Northgas / [http://www.northgas.ru/index.jsp?lang=E northgas.ru]
*OJSC OC Rosneft (Rosneft Open Joint Stock Company Oil Company) / [http://www.rosneft.com/english/index.html rosneft.com] (state-owned Russian oil and gas exploration company)
*Surgutneftegas (Open Joint Stock Company) / [http://www.surgutneftegas.ru/eng/ surgutneftegas.ru]
*TNK-BP / [http://www.tnk-bp.com/ tnk-bp.com] (created via 2003 merger of British Petroleum (BP) with Russian oil company Tyumen Oil Company)
*Transneft / [http://www.transneft.ru/Default.asp?LANG=EN transneft.ru] (Russia's pipeline monopoly)
*Urengoigazprom Ltd. / [http://www.ugp.ru/eng/ ugp.ru]
*YukosSibneft Oil Company (Yukos Oil) (petroleum exploration, production, refining, and marketing)

External links

* [http://www.eia.doe.gov/emeu/cabs/russia.html Country Analysis: Russia's Oil and Natural Gas] : [http://www.eia.doe.gov/emeu/cabs/russia.html#oilexp Oil Exports] and [http://www.eia.doe.gov/emeu/cabs/russia.html#oilind Russia's Evolving Oil and Natural Gas Industry Structure] .
* [http://www.expert.ru/expert/ratings/exp200/exp200E/exp20096/e20096en/major.htm "Major Russian Companies: Some Details" (1995-1996)] , Joint Project by "Expert Magazine" and Menatep Bank, undated.
* [http://news.bbc.co.uk/1/hi/business/2058214.stm "Russia's oil renaissance,"] BBC, June 24, 2002.
* [http://www.sibneft.ru/pages.php?lang=1&page=2 History of Oil in Russia] , Sibneft, 2003.
*"The Oil and Gas Industry": [http://www.kommersant.com/tree.asp?rubric=3&node=38&doc_id=288425 1999-2000] and [http://www.kommersant.com/tree.asp?rubric=3&node=38&doc_id=474677 2000-2004] , "Kommersant", October 23, 2001 and May 17, 2004.
*David Correll, [http://www.amec.com/about/about.asp?PageID=947 "Russia: the new oil giant. An industry perspective,"] AMEC, July 2004.

ee also

*Energy policy of Russia


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