Leading countries in oil production. The main oil-producing countries of the world. Video: Guardianship countries agreed to reduce oil production

Global proven oil reserves (as of 2015) amount to 1657.4 billion barrels. The largest oil reserves - 18.0% of all world reserves - are located in Venezuela. Proven oil reserves in this country amount to 298.4 billion barrels. Saudi Arabia is the second largest country in the world with oil reserves. The volume of its proven reserves is about 268.3 billion barrels of oil (16.2% of the world's total). Proven oil reserves in Russia account for approximately 4.8% of the world's reserves - about 80.0 billion barrels, in the USA - 36.52 billion barrels (2.2% of the world's total).

Oil reserves in countries of the world (as of 2015), barrels

Oil production and consumption by country

The world leader in oil production is Russia - 10.11 million barrels per day, Saudi Arabia is in second place - 9.735 million barrels per day. The world leader in oil consumption is the United States - 19.0 million barrels per day, China is in second place - 10.12 million barrels per day.

Oil production by country (as of 2015), barrels/day

data http://www.globalfirepower.com/

Oil consumption by countries of the world (as of 2015), barrels/day

data http://www.globalfirepower.com/

Experts from the International Energy Agency (IEA) expect global oil demand to increase by 1.4 million barrels per day in 2016 to 96.1 million barrels per day. In 2017, global demand is forecast to reach 97.4 million barrels per day.

World oil exports and imports

The leaders in oil imports are currently the United States - 7.4 million barrels per day and China - about 6.7 million barrels per day. The leaders in exports are Saudi Arabia - 7.2 million barrels per day and Russia - 4.9 million barrels per day.

Export volume by country in 2015

place	a country	export volume, barrels/day	change,% compared to 2014
1	Saudi Arabia	7163,3	1,1
2	Russia	4897,5	9,1
3	Iraq	3004,9	19,5
4	UAE	2441,5	-2,2
5	Canada	2296,7	0,9
6	Nigeria	2114,0	-0,3
7	Venezuela	1974,0	0,5
8	Kuwait	1963,8	-1,6
9	Angola	1710,9	6,4
10	Mexico	1247,1	2,2
11	Norway	1234,7	2,6
12	Iran	1081,1	-2,5
13	Oman	788,0	-2,0
14	Colombia	736,1	2,0
15	Algeria	642,2	3,1
16	Great Britain	594,7	4,2
17	USA	458,0	30,5
18	Ecuador	432,9	2,5
19	Malaysia	365,5	31,3
20	Indonesia	315,1	23,1

OPEC data

Import volume by country in 2015

place	a country	import volume, barrels/day	change, % compared to 2014
1	USA	7351,0	0,1
2	China	6730,9	9,0
3	India	3935,5	3,8
4	Japan	3375,3	-2,0
5	South Korea	2781,1	12,3
6	Germany	1846,5	2,2
7	Spain	1306,0	9,6
8	Italy	1261,6	16,2
9	Fraction	1145,8	6,4
10	Netherlands	1056,5	10,4
11	Thailand	874,0	8,5
12	Great Britain	856,2	-8,9
13	Singapore	804,8	2,6
14	Belgium	647,9	-0,3
15	Canada	578,3	2,6
16	Türkiye	505,9	43,3
17	Greece	445,7	6,0
18	Sweden	406,2	7,5
19	Indonesia	374,4	-2,3
20	Australia	317,6	-28,0

OPEC data

How many years will oil reserves last?

Oil is a non-renewable resource. Proven oil reserves (as of 2015) are approximately 224 billion tons (1657.4 billion barrels), estimated - 40-200 billion tons (300-1500 billion barrels).

By the beginning of 1973, the world's proven oil reserves were estimated at 77 billion tons (570 billion barrels). Thus, proven reserves have been growing in the past (oil consumption is also growing - over the past 40 years it has grown from 20.0 to 32.4 billion barrels per year). However, since 1984, the annual volume of world oil production has exceeded the volume of explored oil reserves.

World oil production in 2015 was about 4.4 billion tons per year, or 32.7 billion barrels per year. Thus, at the current rate of consumption, proven oil reserves will last for about 50 years, and estimated reserves will last for another 10-50 years.

US oil market

As of 2015, the US imported approximately 39% of its total oil consumption and produced 61% independently. The main countries exporting oil to the US are Saudi Arabia, Venezuela, Mexico, Nigeria, Iraq, Norway, Angola and the UK. Approximately 30% of oil imported into the United States and 15% of total oil consumption in the United States is oil of Arab origin.

According to experts, strategic oil reserves in the United States currently amount to more than 695 million barrels, and commercial oil reserves are about 520 million barrels. For comparison, Japan's strategic oil reserves are about 300 million barrels, and Germany's are about 200 million barrels.

US oil production from unconventional sources increased approximately fivefold between 2008 and 2012, reaching almost 2.0 million barrels per day by the end of 2012. By the beginning of 2016, the 7 largest shale oil basins were already producing about 5.0 million barrels daily. The average share of shale oil, or light tight oil as it is often called, in total oil production in 2016 was 36% (compared to 16% in 2012).

Conventional crude oil production in the United States (including condensate) amounted to 8.6 million barrels per day in 2015, which is 1.0 million barrels per day less than in 2012. The total volume of oil production in the United States, including shale, in 2015 amounted to more than 13.5 million barrels per day. Much of the increase in recent years has been driven by increased oil production in North Dakota, Texas and New Mexico, where hydraulic fracturing (fracking) and horizontal drilling technologies have been used to produce oil from shale formations.

In percentage terms (up 16.2% from the previous year), 2014 was the best year in more than six decades. Annual increases in oil production regularly exceeded 15% in the first half of the 20th century, but these changes were smaller in absolute terms because production levels were significantly lower than they are now. US oil production rose in each of the previous six years. This trend followed the period from 1985 to 2008, in which oil production fell in every year (except for one year). US oil production growth stalled in 2015 due to a sharp drop in oil prices in the second half of 2014.

According to the latest IEA estimates, conventional oil production in the United States in 2016 will be 8.61 million barrels per day, in 2017 - 8.2 million barrels per day. US oil demand in 2016 will average 19.6 million barrels per day. The average oil price forecast for 2016 was raised to $43.57 per barrel, for 2017 - to $52.15 per barrel.

Venezuela is the richest oil country in the modern world. According to updated statistics, in 2018 its oil reserves amount to more than 297 million barrels, which is about 20% of all world oil reserves. Saudi Arabia is in 2nd place by a slight margin: its reserves account for 18% of the world's total.

The top ten countries with the largest oil reserves today include 4 Persian Gulf countries: , and , 2 representatives - and , as well as and . Russia occupies 8th position in this list.

Oil is a very common mineral resource in nature. Over the past 50 years, geologists have identified about 600 oil and gas basins. According to various estimates, the area with promising oil and gas fields ranges from 15 to 50 million km².

The general geological estimate of the planet’s oil reserves ranges from 250 to 500 billion tons, and if we also take into account heavy oil contained in tar sands and oil shale, the value jumps to 800 billion tons.

The numbers are gigantic, but this does not mean that humanity can sleep peacefully without worrying about tomorrow’s energy resources. The fact is that the development of shale is very expensive and environmentally hazardous, so few people are engaged in its extraction. General geological reserves mean all the oil contained in the bowels of the earth, but most of it, with the current level of technological development, people cannot yet extract. Therefore, along with the concept of general geological reserve, the concept of explored or reliable oil reserve is widely used, i.e. the amount that can be extracted today with the current level of technical progress. And now 800 billion tons smoothly turn into 150 billion tons. It is this figure that is an indicator of reliable oil reserves in the world today. And when it comes to the oil reserves of a country or region, we mean reliable reserves.

However, it should be noted that any indicators related to the extraction of mineral resources, especially fuel, cannot be absolute and accurate.

Geological exploration work on the planet does not stop for a minute. Therefore, despite the fact that humanity increases oil production every year, its reliable reserves are also increasing.

Modern technologies make it possible to explore ever greater continental depths. But the real technological breakthrough was the possibility of developing offshore deposits. It is thanks to offshore development that some European countries, such as Norway and the UK, have become leaders in oil-producing countries. And Venezuela has become the world leader in reliable reserves, overtaking the traditional leaders - the Persian Gulf countries.

How was OPEC formed?

The main feature of the geography of world oil resources is that its main reserves are in developing countries, and the main consumers of oil and petroleum products are highly developed countries.

The problem of shortage of oil resources worsened back in the 70s. last century. It was during these years that the highly developed countries of the world were hit by the first wave of the energy crisis. And this was due to the cessation of the supply of cheap fuel from the Middle East.

Until now, energy prices from the Persian Gulf have been so meager that no one has ever thought of engaging in large-scale exploration of new deposits anywhere else. The sheikhs of Arab countries took advantage of this fact and united to control the world black gold market.

An agreement on combining joint efforts in this direction was signed back in 1960 in the city of Baghdad, but the participating countries gained real strength only a decade later. This is how the organization of oil exporting countries came into being, known as OPEC.

The leaders in oil reserves and production at that time were Saudi Arabia, Iran, Iraq, Kuwait and, as a result, they also became the leaders of the organization. These Arab countries managed to gain a decisive position in the world oil market due to the fact that 70% of all the world's reserves of this energy resource were concentrated on their territory, and the largest oil fields were located with an initial reserve of more than 1 billion tons.

How and why oil reserves statistics change

The heyday of the world oil era occurred in the 70s and 80s. last century. It was then that large oil fields were discovered in non-OPEC countries, including the Soviet Union. This includes the development of Alaska, the Gulf of Mexico, the shelves of California and the North Sea, Western Siberia, and the Volga-Ural region.

The discovery of new fields has brought new players to the global oil market. Although the newly discovered oil fields were very large, no one could still compete with the countries of the Middle East either in oil reserves or in the level of its production.

Since the late 80s. all the largest and most profitable oil fields were discovered. It was no longer possible to continue to increase raw material reserves at the expense of new deposits. And then a new trend arose: it was to achieve an increase in oil reserves through additional drilling in already existing fields.

This method was primarily used by the top five richest oil powers in the Middle East, which did not want to lose their achieved status. This included Saudi Arabia, Iran, Iraq, Kuwait and the United Arab Emirates. Thanks to the new tactics, these countries held the palm for another 20 years in terms of the number of reliable oil reserves, and at the same time as the largest producers and exporters.

But other countries, rich and not so rich, have also used the method of additional drilling, for example, Canada and Venezuela. The result was not long in coming, and by the second decade of the 21st century. The picture of the countries leading in proven reserves of black gold has changed. Having pushed Saudi Arabia to 2nd place, Venezuela has become the absolute leader in reserves. And Canada confidently took 3rd position, displacing Iran and Iraq.

Since the 90s of the last century, Saudi Arabia, having reached a level of oil reserves of 260 million barrels, continues to remain unchanged at this level. Iran and Iraq at the same time reached the level of 100 million barrels. But Canada and Venezuela have made a sharp leap upward in the last 1.5 decades. Moreover, until the beginning of the 20th century. Canada had meager reserves of approximately 10-20 million barrels.

A sharp increase occurred in 2002-2003, when the development of new fields and the use of new technical means overnight increased the country's reserves to 175 million barrels. And Venezuela, for the same reasons, increased its own from 100 million barrels in 2010 to 297 million in 2013.

Thus, we can summarize. The richest country in oil is a very relative concept. The situation changes from decade to decade, and sometimes can change dramatically within 1-2 years. Exhaustibility of a mineral resource; discovery of new deposits; additional studies of deposits discovered earlier, but at that time considered unprofitable; Improvements in mining technologies that allow us to penetrate to new depths - all this leads to constant changes in statistics.

Middle Eastern countries, albeit slowly, are losing their leadership positions, and they are being replaced by new actors. Today, the top five reserves in 2018-2019 look like this: Venezuela, Saudi Arabia, Canada, Iran, Iraq. Time will tell what the situation will be tomorrow.

Almost every country, even a small one, mines minerals on its territory. Some people got quite a lot of them, others didn’t. In this regard, the Russian Federation, even after the collapse of the USSR, which remained the largest country on the planet in terms of territory occupied, was lucky. Everything necessary is extracted both for our own needs and for export - from light helium gas to heavy rare earth metals. How much oil Russia produces per year is a strategic issue on which the filling of the country’s budget, the number of jobs, the price level, the implementation of government social programs, regular supplies of raw materials to oil refining and chemical synthesis enterprises depend.

Black gold deposits

This is the name for oil, each major production site of which is equivalent to a gold mine. From year to year, such deposits produce millions of tons of valuable raw materials from the bowels of the earth. Industrial extraction of black gold began in the second half of the 19th century. Previously used methods: collecting oil in places where it came to the surface, constructing step wells - were primitive, ineffective in terms of technology and the amount of extraction of valuable minerals.

The largest fields are where oil is produced in Russia. Most of the country's strategic reserves with explored huge volumes of hydrocarbons are located in the West Siberian oil basin in the territories of the Yamalo-Nenets and Khanty-Mansi Autonomous Okrugs, as well as in the Republic of Tatarstan and Eastern Siberia. In recent years, active production of oil and gas condensate has been carried out on the shelf of Sakhalin Island.

List of fields where oil is produced in Russia in the millions of tons per year, the development of which has been going on for many years:

• Samotlor. It is located near the “oil capital” of Russia – Nizhnevartovsk. The explored reserve contains 7 billion tons of raw materials. The annual production volume is about 22 million tons.
• Priobskoe. Located near Khanty-Mansiysk. Reserves reach 5 billion tons. Mining has been going on since the times of the Soviet Union, currently amounting to 40 million tons per year. Exploration is clarifying the volume of new oil horizons of the field under the Ob River, which makes Priobskoye one of the most successful and promising oil production projects.
• Lyantorskoe. It is also located in the Khanty-Mansiysk Okrug. The balance reserve of the deposit is 2.5 billion tons. The annual amount of oil produced is 7.5 million tons. In addition, gas condensate is extracted here in large volumes.
• Verkhnechonskoe. Located in the Irkutsk region. Annual volume – 7 million tons.
• The famous Urengoy deposit. The huge reserves for which exploration continues have not been clarified to date. It was from this deposit that the Soviet Union began supplying strategic raw materials to Europe. Production per year is 11 million tons of oil.
• Romashkinskoye in the Republic of Tatarstan. Reserves reach 5 billion tons. Annual production – 15 million tons.

These are only the most famous deposits. In addition, production, totaling more than 10 million tons per year, is carried out at the Mamontovsky, Fedorovsky, Vankor oil fields, in the Salym and Krasnoleninsky groups of fields.

There are two answers to the question of how much oil Russia produces per year. The first is more than 500 million tons per year. The closest competitors are Saudi Arabia and the USA. Within this trio, with varying degrees of success, there is a struggle for first place in various oil production indicators, including those related to the fact that the oil produced in these countries differs in grade, specific gravity, weight, and fraction content. The second answer is that the exact production figures for any strategic reserves in each state are classified information that is not subject to public disclosure.

Oil by grade

Often the words from the mouths of the hosts of television programs about the economy and the mining industry sound like absolutely incomprehensible gobbledygook: some brands of oil, quotes, futures. Without going into details of stock exchange manipulations and forecasts, you should understand the main thing - what kind of oil is produced in Russia.

The grade, also called the grade of this hydrocarbon raw material, is determined primarily by its qualitative composition and uniformity. Oil from each well has characteristics unique to it. That is why there was a need for its classification. To simplify the assessment of export supplies, it was decided to divide oil into light and heavy, depending on the predominance of certain fractions in it, sulfur and other impurities. More than 20 varieties or grades of oil are produced in the world today.

What kind of oil is produced in Russia - the six main grades that are exported:

• Urals. This is a heavy oil with a high sulfur content. It is obtained by mixing raw materials from the Khanty-Mansiysk Okrug and Tatarstan. The latter is of slightly lower quality due to its sulfur content, which makes it more difficult to process and therefore cheaper.
• SiberianLight. Light oil from Western Siberia. The sulfur content is up to 3 times less than in Urals.
• ArctikOil. Raw materials are extracted by a drilling platform from the Pechora Sea shelf. The oil is dense, with an admixture of sulfur.
• Sokol. Mining has begun on Sakhalin Island. Raw materials with low impurity content.
• ESPO (ESPO) from Eastern Siberia. Low density oil with low sulfur content.
• Vityaz from the Sakhalin-2 project. Light oil.

It should be noted that the main part of the supply is oil of the first two listed grades, the rest are produced in much smaller volumes. It is to be hoped that they are at the beginning of a long journey towards global recognition and a share in exports.

It is quite clear that the indicator of how much oil Russia produces per year will remain one of the determining ones for decades to come, perhaps until a new round of the industrial, scientific and technological revolution, which today will provide sources of raw materials for fuel and chemical synthesis. Because the economy, defense capability, and the life of the country as a whole directly depend on this. Considering both already explored, mothballed, and not yet discovered oil fields on the vast territory of Russia, the continental shelf, we can say with confidence that it will be enough to ensure a prosperous life for many generations.

Oil is the main fossil of the 20-21st century, around which the world economy is built. It is not surprising that many countries are devoting significant efforts to developing oil production. Residents of Russia know that our country is one of the leading energy powers, extracting record volumes of raw materials from the ground every day. However, there are other countries whose oil production is not inferior to Russia's. In this material we will talk about the leading countries in oil production.

Today there are three countries leading in terms of oil production. These include:

• Russian Federation;
• Saudi Arabia;
• USA.

Russia, the USA and Saudi Arabia are the closest competitors for the first position in this ranking. For example, in 2015, Saudi Arabia produced 10,192.6 thousand barrels per day, Russia - 10,111.7 thousand barrels per day, and the United States - 9,430.8 thousand barrels per day. One barrel - 159 liters of raw material.

At the same time, in 2014, the United States produced more raw materials than the Russian Federation and occupied second place in the ranking. In 2016, the situation changed and Russia became the absolute leader, producing a record 548 million tons of oil.

Behind the “Big Three” are the following countries (in order of decreasing production):

• Iraq;
• Iran;
• Canada;
• Kuwait;
• Venezuela.

In recent years, Iran, which was previously under international sanctions prohibiting it from trading in oil, has been increasing its production rate. After sanctions were lifted, Iran entered the top five in production and continues to increase production of raw materials, expanding markets.

At the same time, OPEC countries and Russia agreed to freeze production in order to stabilize the price of raw materials.

Oil reserves in the world

Today, according to scientists, there are 240 billion tons of crude oil concentrated on the planet. Most of this raw material is located in OPEC countries. OPEC is an organization that unites 13 oil-producing countries, many of which are in the Middle East and Africa. Russia is not a member of OPEC.

It is important to understand that the amount of oil reserves and the size of oil production are not always directly related. For example, Russia, which is the leading country in oil production, is not among the five countries with the largest number of reserves. On the contrary, Venezuela is the leader in proven reserves of raw materials. However, in terms of production rates, it is only in tenth place.

547.6 ml. tons of “black bit” produced in 2016 by Russian oil producing enterprises put the Russian Federation at the top of the list of largest oil producers. 66.5% of them were produced by three mining companies. Russia's position as the largest exporter of this resource also remained unchanged.

Oil has always served as a source of power for any country, its national wealth. Oil production in Russia has allowed the country to rank among the largest producers of this important fuel resource, and at the end of 2016, even the largest.

Modern Russia is considered one of the world's largest producers of “black gold”. More than 12% of world production is mined here. The main competitor is Saudi Arabia.

In October, Russia surpassed Saudi Arabia's average daily production. On average, our country produced 10.754 million barrels per day. "Russian newspaper"

Sources: Rosstat according to the Federal Customs Service of Russia, BP Statistical Review of World Energy

At the end of 2016, Russia reached a record production level of 547.6 million tons, of which 46.5% was exported to other countries. And during the year, 59,013.8 million US dollars were received into the foreign currency accounts of enterprises and organizations.

The average producer price at the end of 2016 was 12,607 rubles per 1 ton of raw materials, the purchase price was 1.4 times higher, or 18,180 rubles.

Sources: Rosstat

Rosstat provides a comparative assessment of changes in average daily oil production over the past three years in the Russian Federation, OPEC countries and Saudi Arabia.

Source: Rosstat

Russia owes the recognition of the country as an oil power, first of all, to Azerbaijani oil. Huge inexhaustible developed reserves and their development on its territory will appear only later, by the second half of the 20th century.

And it began...

About three centuries ago, Peter the Great ordered “...to go to Baka as quickly as possible and strive to get it with God’s help, of course... This Baka is rich in oil of excellent quality...”. By imperial decree, General Matyushkin captured Baku in 1723, and with it 48 oil wells, from which they pumped black oil and several more with white oil.

Baku acquired a special status; its mayor was appointed personally by the emperor. This was the case under Alexander III and Nicholas II. Russia with Azerbaijani oil by 1901 was the recognized leader in world production, 1.5 million tons against the background of 1 million from the United States inspired respect. The Azerbaijani region remained the main oil production area of ​​the Soviet Union until World War II.

Source: “Collection of statistical data on the mining and metallurgical industry of Russia” (1912)

By 1940, of the 31.1 million tons produced in the USSR, Azerbaijani accounted for 71%; in 1945 it had already dropped to 59% (11.5 million tons out of 19.4).

And 1950 is notable for the fact that the vast Russian territory between the Volga and the Urals, as the main oil-producing region of the country, was called the “second Baku” and included oil production areas in Russia: the richest fields of the Bashkir and Tatar Autonomous Republics. Its production has finally reached pre-war levels. And with the start of industrial exploitation of the West Siberian fields in 1964, constantly increasing volumes, the USSR became the first in the world in oil production.

There were downs and there were ups. The graph clearly demonstrates oil production indicators in Russia by year.

Rice. 2. Oil production (including condensate) in Russia in 1901 - 2016
Source: Rosstat

Oil exports in the Russian Federation

Many industrialized countries are fully self-sufficient in this important fuel resource. Among them is Russia. But none of them export it to such a significant extent. According to operational data from Rosstat, out of 547.6 million tons, 254.8 (which is 47%) were exported to countries near and far abroad. Moreover, this level remains virtually unchanged for many years.

Table 4. Changes in the ratio of oil production and exports in the Russian Federation
Millions of tons

	Export of crude oil	Oil production	Ratio of oil production and export, %

Source: Rosstat

Rice. 3. Change in crude oil exports in physical and monetary terms
Source: Rosstat

The share of crude oil exports in the country’s foreign exchange earnings at the end of 2016 was 26%. The decline in export prices had its impact.

The actual average oil export price in December 2016 was US$339.1 per tonne, higher than it was in January (230.2), but never reaching the January 2015 level of 399.9. And the world price for the Urals brand in December already exceeded the level at the beginning of the previous year (340.0 in January 2015, 209.9 in January 2016 and 380.2 dollars per ton in December 2016). The graph will show how both of these prices have changed over the past two years.

Rice. 4. Change in the average actual export price of the Russian Federation and world oil prices in 2015-2016, dollars per ton
Sources: Rosstat, Ministry of Finance of Russia

This state of affairs explains why, with the continued level of supplies of “black gold” abroad, foreign exchange earnings from its sales are declining.

Source: Rosstat

Russian oil is exported mainly to Far Abroad countries. Their share accounted for 90.6% at the end of 2015. The main importer among the CIS countries is Belarus.

Rice. 5. Structure of oil exports from the Russian Federation, in%
Source: Rosstat according to the Federal Customs Service of Russia.

According to Forbes, the largest buyers of Russian raw materials include: China, the Netherlands, Germany, Poland, Italy, South Korea, Japan, Finland, and Slovakia.

Largest oil fields in Russia

Not every fossil deposit is considered a deposit. More often, this is a group of deposits located in a certain territory, the area of ​​which can reach hundreds of kilometers.

By Order of the Ministry of Natural Resources of the Russian Federation No. 298 dated November 1, 2005. a new “Classification of reserves and forecast resources of oil and combustible gases” has been introduced, according to which all deposits are divided into groups and depend on the amount of deposited minerals (million tons):

• very small - up to 1;
• small - 1-5;
• medium - 5-30;
• large - 30-300;
• unique - 300 or more.

According to the Interfax Agency, Russia has become the first in the world in oil production. This was made possible by the explored reserves of the largest deposits.

Saudi Arabia in December reduced oil production and exports from historical highs recorded in the previous month, according to data from the Joint Organization Data Initiative (JODI). This allowed Russia to take first place in the world in terms of oil production, although it also reduced production.
INTERFAX.RU Moscow. February 20, 2017

Western Siberia, with its Khanty-Mansi and Yamalo-Nenets districts, remains the central mining areas in Russia. It is on a par with such major oil and gas basins as the Persian and Mexican Gulfs, the Sahara and Alaska. Most of the deposits began to be developed back in Soviet times.

The prospective recoverable reserves of this mineral in the Russian Federation as of January 1, 2015 amounted to 18,340.1 million tons.

Source: State report of the Ministry of Natural Resources of the Russian Federation “On the state and use of mineral resources of the Russian Federation in 2014”

Table 6. Largest oil fields by volume of recoverable reserves

	Millions of tons	Year of start of operation	Where is
Samotlorskoe			Khanty-Mansi Autonomous Okrug
Romashkinskoe			Tatarstan, Almetyevsk
Priobskoe			Khanty-Mansi Autonomous Okrug
Arlanskoe			Udmurtia
Vankorskoe			Krasnoyarsk region
			Yamalo-Nenets Autonomous Okrug
Lyantorskoye			Khanty-Mansi Autonomous Okrug
Tuymazinskoye			Bashkortostan
Fedorovskoe			Khanty-Mansi Autonomous Okrug
Mamontovskoe			Khanty-Mansi Autonomous Okrug

Sources: vestifinance.ru

At the same time, exploration work continues, new promising places are being developed, including Sakhalin-5, the active development of which dates back to the present century, and oil reserves are estimated at 1.5 billion tons, as well as “Great”, which is on the Arkhangelsk lands with reserves estimated at 300 million tons.

Almost half of all recoverable Russian oil reserves fall on the first five largest fields:

• Samotlor;
• Romashkinskoe;
• Priobskoe;
• Arlanskoe;
• Vankorskoe.

Sources: vestifinance.ru, State report of the Ministry of Natural Resources of the Russian Federation “On the state and use of mineral resources of the Russian Federation in 2014”

Largest companies

For the Russian Federation, which has huge oil reserves, oil producing companies serve as a real source of budget replenishment, which can safely be classified as strategic. The largest oil producers remain profitable even as global prices fall.

Table 7. Changes in oil production volumes by Russian enterprises in 2011-2016 Millions of tons

NK "Rosneft"
PJSC Oil Company LUKOIL
OJSC "Surgutneftegas"
Gazprom Neft
"Tatneft"
JSC NGK Slavneft
"Bashneft"
PJSC NK "RussNeft"
For reference: in the Russian Federation

Russneft in 2013, excluding retired assets of enterprises of the Ural block

Sources: data used for the assessment: RNS news agencies, as well as official websites of companies: Rosneft, Lukoil and others.

Since 2011, more than half of all oil in the country has been produced by three:

1. LUKOIL company;
2. OJSC "Surgutneftegas".

Taking into account the contribution of the Gazprom Neft and Tatneft groups of companies, their share increases and, according to operational data for 2016, reaches 82.2%.

Sources: Official websites of companies, for 2016 - RNS news agency

Sources: Data for Russia - Rosstat, for companies - RNS Information Agency

RBC cites the forecasts of Fitch Ratings experts:

“2016 may be the last year of growth in oil production in Russia... New projects will be slowed down due to a sharp drop in oil prices, and production at developed fields in Western Siberia will continue to fall by 3-4%.”

Results and conclusions

The influence of this resource on the development of the Russian economy will remain decisive for many years to come.

The country remains the undisputed world leader in the production and export of “black gold”.

The West Siberian region and its oil producing companies are a real source of replenishment of the state budget of the Russian Federation.