Rosneft Says It Has Most Oil Reserves

Rosneft said it had estimated proven reserves of 20.09 billion barrels of oil equivalent, including 15.96 billion barrels of oil and 24.76 trillion cubic feet of gas under the Society of Petroleum Engineers classification.

Rosneft’s proven oil and gas condensate reserves rose by 7.3 percent in 2006, while its gas reserves increased by 1.5 percent. The firm said its hydrocarbon reserve life was 27 to 30 years for oil and 51 years for gas.