Russian oil production by company 2016

The state-owned energy company Rosneft was the largest producer of oil in Russia in 2016, producing more than four million barrels per day. This was more than twice the volume of the second largest producer Lukoil, and almost four times as much as Gazprom. Rosneft was the fourth biggest oil company worldwide in terms of daily production, behind National Iranian Oil Company (NIOC), Iraq National Oil Company (INOC) and Saudi Aramco.

Oil reserves

Russia has some of the largest oil reserves in the world, and in 2017 the state-owned company Gazprom owned some 1.5 billion metric tons in the Urals FD region. This was considerably more than in any other region. However, this was a slight decrease from the previous year of approximately 37 million metric tons. Western Siberia is Russia’s largest oil producing region, but there are potentially huge oil reserves under the country’s Arctic shelf that are expected to be developed in the future.

Russia’s oil production increasing

  With the exception of 2008, Russia’s oil production has been increasing annually over the past two decades. Amounting to 6.1 million barrels per day in 1998, Russia’s oil production had increased to approximately 11.3 million barrels per day by 2017. This is expected to increase in the following years.

Russia's oil production in 2016, by company

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Sources

Release date

October 2017

Region

Russia

Survey time period

2016

Supplementary notes

* Including Gazprom Neft.

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Statistics on "Gazprom"

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