White Nights, Black Gold: Russia’s Oil Riches Come to Light

Your Russian oil and gas may as well have come from space–the people who produce it talk of “returning to earth” when they leave its remote Siberian source. Starting 1,400 kilometers northeast of Moscow and reaching far into the Arctic, the vast Yamalo-Nenetsky autonomous district is a leading center of the national oil industry.

At the start of 2005, Russia took second place in world oil production after Saudi Arabia and, by some estimates, sixth place in proven reserves (9.9 billion tons, or 72 billion barrels, British Petroleum Statistical Review of World Energy). Its proven natural gas reserves of 48 trillion cubic metres in 2004 were unmatched.

rigzone