Petroleum industry in Russia

The petroleum or oil industry in Russia is one of the largest in the world. Russia has the largest reserves and was the largest exporter of natural gas. It has the sixth largest oil reserves, and is one of the largest producers of oil. It is the fourth largest energy user.

In 2009, Russia produced 12% of the world's oil and had a similar share of global oil exports. Russia produced an average of 10.83 million barrels (1,722,000 m3) of oil per day in December 2015. This goes mainly to the European market.

Russian exports consist of more than 5 Mbbl/d (790,000 m3/d) of oil and nearly 2 Mbbl/d (320,000 m3/d) of refined products, The domestic demand in 2005 was 2.6 Mbbl/d (410,000 m3/d) on average. It is also the main transit country for oil from Kazakhstan.

Until 2022 Russia was by far the world's largest natural gas exporter. Most, but not all, authorities believe that Russia has the world's largest proven reserves of natural gas. Sources indicating Russia have the largest proven reserves include the US Energy Information Administration (47.8 tcm), and OPEC (48.7 tcm).

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