Oil industry of Russia

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Graph of Top Oil Producing Countries 1960-2006, including Russia
Graph of Top Oil Producing Countries 1960-2006, including Russia[1]

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.[2]

Russia is the largest oil producer in the non-OPEC countries, and second biggest in the world after Saudi Arabia.[3] It gives 12% of the global oil production and has a same share in the global oil export.[4] 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.[5] It's also main transit country for the oil from Kazakhstan.

The Russian oil industry is in need of tremendous investment, and high oil prices, at the time of writing - January 2008 - of around $100/barrel, mean that there is resources available for financing the upgrades needed. Strong growth in Russian economy means that local demand for energy, of all types (oil, gas, nuclear, coal, hydro, electricity) is continuing to grow.

Contents

[edit] Russia's oil and gas companies

The biggest Russian oil company is Rosneft followed by Lukoil, TNK-BP, Surgutneftegaz, Gazprom Neft and Tatneft.[6]

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.

[edit] Tanker market

Crude oil exports through key Russian ports, September 2006[7]
Primorsk (Baltic Sea) 5,863,000 t
Novorossiysk (Black Sea) 3,963,000 t
Tuapse (Black Sea) 454,000 t
Key charterers from Primorsk, September 2006
Gunvor 29%
Litasco 17%
Neste 10%
Petrovit 10%
Glencore 7%
Stasco 5%
other 22%
Key owners chartered from Primorsk, September 2006
Heidenreich 14%
Neste 14%
Marmaras 10%
Minerva 10%
Eiger 7%
Stena Bulk 7%
Teekay 7%
Sibneft 5%
other 26%
Key charterers from Novorossiysk, September 2006
Litasco 26%
Glencore 15%
Gunvor 13%
Europetroleum 10%
Euroasian 5%
Petraco 5%
Sibneft 5%
other 21%
Key owners chartered from Novorossiysk, September 2006
Thenamaris 15%
Eiger 13%
Europetroleum 10%
Gunvor 5%
Histria 5%
Minerva 5%
NITC 5%
Petrobras 5%
ST Shipping 5%
Tanker Pacific 5%
other 27%

[edit] External links

[edit] Profiles

[edit] Maps & Charts

[edit] Websites

[edit] 2000

[edit] 2001

[edit] 2002

[edit] 2003

[edit] 2004

[edit] 2005

[edit] 2006

[edit] 2007

[edit] See also

[edit] References

  1. ^ http://www.eia.doe.gov/emeu/aer/pdf/pages/sec11_10.pdf
  2. ^ Russia, Background, February 2005. U.S. Department of Energy
  3. ^ 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
  4. ^ Key World Energy Statistics. 2006 Edition, International Energy Agency 2006
  5. ^ Russian oil industry between state and market, by Yulia Woodruff, Fundamentals of the Global Oil and Gas Industry 2006, Petroleum Economist
  6. ^ LUKoil to lose the lead soon. Rosneft will become Russia’s leading oil producer in 2007, Analytical department of RIA RosBusinessConsulting
  7. ^ Fearnleys Russia. Russian tanker market monthly. 27 October 2006.