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Russia has world''s largest oil, natural gas reserves -- minister

Arzamas 16

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MOSCOW, July 12 (KUNA) -- Russia has oil reserves of 17.8 billion tons and natural gas reserves of 48.8 billion cubic meters, which makes the country holds the world's largest reserves in these two commodities, the Interfax reported Friday.

Minister of Natural Resources and the Environment Sergey Donskoy told the press that revealing this vital information would help generate more investments opportunities in Russia, especially in the extraction and production of hydrocarbons.
Nonetheless, the ministry announced earlier recently that oil production will not exceed 520 million tons in the next three years.

Before the release of the official data Russia was placed second in the world by gas reserves after Iran, with 32.9 trillion cubic meters, and eighth by crude oil reserves, after Venezuela, Saudi Arabia, Canada, Iran, Iraq, Kuwait and UAE, with 11.8 trillion cubic meters of oil. (end) as.nfm KUNA 122018 Jul 13NNNN


KUNA : Russia has world''s largest oil, natural gas reserves -- minister - Power & Materials - 12/07/2013


:smokin::smokin::smokin:
 
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That is amazing. Truly amazing.

The world's largest supply of oil and gas... completely out of any Western control or influence. Fantastic. :cheers:

Not to mention that China, the world's largest consumer of energy, is connected to Russia by pipeline. :D
 
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Yes, but Russia is worried that falling gas prices in international markets due to shale reserves being exploited in North America are going to cause a serious drop in its revenues.
 
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US does not export Shale gas to Europe or Asia, so its a no threat to us at the moment.

With USA buying less gas from abroad, the prices in international markets fall due to increased supply relative to demand, i.e. more supplies chasing fewer customers.
 
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With USA buying less gas from abroad, the prices in international markets fall due to increased supply relative to demand, i.e. more supplies chasing fewer customers.

we pipelines connecting directly to to our customers, most supplies don't have that, they have to ship them by sea, so we have big advantage.
 
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