Fast Facts about Russia’s oil

• Russia has the world’s largest natural resources, the second largest coal reserves, and eighth largest oil reserves.

• Russia surpassed Saudi Arabia as the world’s largest oil producer in September 2009 for the first time since the collapse of the Soviet Union.

• About 65% of Russia’s exports are comprised of oil and natural gas.

• More than 70% of Russian crude oil production is exported and only the rest is available for local consumption.

• The oil & natural gas industry brings in 30% of the country’s GDP and 60% of its export earnings.

• A majority of the blue chip companies in Russian stock exchanges are represented by the country’s oil & natural gas sector.

• The prospects of Russian oil & natural gas sector attract major foreign oil companies.

• The industry is dominated by state-run firms.

• Most Russian oil companies have control over the entire production cycle ranging from exploration to transmission.