Russia’s oil reserves to last 35-40 years

 Given current oil extraction volumes, Russia’s oil reserves will last for at least 35-40 years, a ministry press release quoted an official as saying Wednesday. Deputy Minister of Natural Resources Anatoly Tyomkin said undeveloped deposits had exceeded 100 billion metric tons of standard fuel. According to Tyomkin, Russian oil companies will be able to use their oil reserves for an average of more than 30 years and some could last as long as 50 years. Reserves of foreign corporations amount to much less, Tyomkin said. BP and Amoco’s reserves are expected to last about 10 years, while Exxon Mobil’s could go for another 12.
RIAN