In 2020, Russia's oil reserves amounted to 14.8 billion metric tons, accounting for over six percent of global petroleum reserves. The largest proved oil reserves in Europe and Eurasia were located in Russia, followed by Kazakhstan and Norway.
Where is Russian oil extracted?
The largest share of oil and gas production activities in the country take place in Western Siberia. Exploration of natural resources in this area have steadily developed since the 1960s. The second leading region is the Volga-Ural oil and gas province, with major oil deposits situated in Bashkortostan and Tatarstan republics.
How long will Russian oil reserves last?
In 2020, Gazprom Neft’s Head of Strategy and Innovation Sergey Vakulenko stated that Russian oil reserves were sufficient for profitable production with already used technologies and at current rates for approximately three more decades. Further extraction would be more costly, as it would require innovative equipment.
Russia's oil reserves from 2009 to 2020
(in billion metric tons)
The statistic has been compiled from several reports by the source.
The figures have been rounded. Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil.
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BP. (July 8, 2021). Russia's oil reserves from 2009 to 2020 (in billion metric tons) [Graph]. In Statista. Retrieved January 28, 2022, from https://www.statista.com/statistics/264390/oil-reserves-in-russia-since-1990/
BP. "Russia's oil reserves from 2009 to 2020 (in billion metric tons)." Chart. July 8, 2021. Statista. Accessed January 28, 2022. https://www.statista.com/statistics/264390/oil-reserves-in-russia-since-1990/
BP. (2021). Russia's oil reserves from 2009 to 2020 (in billion metric tons). Statista. Statista Inc.. Accessed: January 28, 2022. https://www.statista.com/statistics/264390/oil-reserves-in-russia-since-1990/
BP. "Russia's Oil Reserves from 2009 to 2020 (in Billion Metric Tons)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/264390/oil-reserves-in-russia-since-1990/
BP, Russia's oil reserves from 2009 to 2020 (in billion metric tons) Statista, https://www.statista.com/statistics/264390/oil-reserves-in-russia-since-1990/ (last visited January 28, 2022)
