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Russia has 31 billion tons of recoverable oil, enough for 62 years, with new discoveries boosting reserves.
Deputy Prime Minister Aleksandr Novak stated Russia has enough recoverable oil reserves to last 62 years at current production rates, with an estimated 31 billion tons, ranking it fourth globally behind Saudi Arabia, Iran, and Iraq.
He emphasized that ongoing exploration and drilling continuously add to reserves, making a shortage unlikely.
Oil remains a key energy source, accounting for 30% of global use, with strong demand expected in transportation and petrochemicals.
Despite Western sanctions, Russia’s oil sector remains stable, producing about 10% of global crude.
A major new discovery in the region added 55 million tons in geological reserves, the largest in three decades.
Rusia tiene 31 billones de toneladas de petróleo recuperable, suficiente para 62 años, con nuevos descubrimientos que aumentan las reservas.