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EIA Country Analysis Brief: Russia

November 1, 2016

 

The U.S. Energy Information Administration (EIA) published its latest Country Analysis Brief on Russia. The Brief of 30 pages lays out key aspects of the Russian energy industry. The Brief provides a good, current overview of key aspects of the Russian energy industry including: export, production, and geographic data; production data and discussion for regions and companies; and explanation of sector organization.
 
Following are some highlights from the Brief:

  • Russia is the world’s—

    • Largest producer of crude oil and lease condensate

    • Second-largest dry natural gas (behind the U.S.)

    • Third-largest generator of nuclear power

    • Fifth-largest installed nuclear capacity (with seven nuclear reactors under construction)

    • (has the) largest proved natural gas reserves

    • Third-largest exporter of coal

  • Russia has 39 refineries with crude oil distillation capacity of 5.5 million b/d.

  • Natural gas transportation in Russia includes about 100,000 miles of high pressure pipelines

  • Russia has 230 gigawatts of installed electric generation capacity.

  • “Russia and Europe are interdependent in terms of energy.” The European Union imports 30 percent of its oil and gas from Russia while the EU account for 60 percent of Russia’s crude export revenues and 75 percent of its natural gas export revenue.

  • Sanctions in reaction to Russian aggressive activities in Ukraine have halted all foreign investment in its oil & gas industry.

  • The oil price collapse has further reduced Russian state revenues, causing increased taxes on oil & gas activities and exports and increased dividends paid to the government (Russian government owns between 10 percent and 70 percent of most Russian oil & gas companies)

  • Three companies account for almost 70 percent of Russia’s oil production in 2014: Rosneft, Lukoil, and Surgutneftegaz.

  • Gasprom accounts for 70 percent of Russia’s natural gas production

For more information and the detailed EIA Brief, go here

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