Domestic Sales of Oil Increased

Oil refining is the base sector of the Russian economy. Oil and its products are the major export resources of the country. The Russian Federation annually exports about 200 million tons of raw oil. According to estimation of BusinesStat, by 2015 it will have increased to 230 million tons.

Over 240 oil- and gas-producing enterprises are involved in oil production in Russia. Eleven oil-producing holdings provide over  95% of the total production volume. The leading oil-producing companies in Russia are Rosneft, LUKOIL and TNK-BP.  The biggest part of oil is produced by Tatneft n.a. V.D. Shashin, Samotlorneftegaz and Orenburgneft and  averages over 10% of the total production volume.

During the period from 2006 to 2010 the volume of oil production in Russia increased by 23.4%, and it reached 559.1 million tons in 2010. During the whole period an insignificant decrease was observed only in 2008, when the volume of oil production fell by 0.3%.

From 2006 to 2010 domestic sales  of oil grew up by 112.2 million tons – from 237.3 million tons in 2006 to 349.5 million tons in 2010. The growth of sales was provided for by the increase in the total production capacities of Russian enterprises that distil crude oil.