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Article: Oil Prices are Rising - The Former Soviet Union.
- Article from:
- APS Review Gas Market Trends
- Article date:
- December 23, 2002
CopyrightCOPYRIGHT 2002 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Exports of petroleum liquids by the former Soviet Union (FSU) hit a record of 6.2m b/d in mid-September. The Soviet Union, which in the late 1980s became by far the biggest oil producer, never exported that much. That the FSU would export 14m b/d by 2015 no longer seems to be a tall order. The petroleum reserves of Russia alone are the biggest in the world, including 130 bn barrels of potentially recoverable oil and another 50-85 bn barrels of recoverable condensate. Russia's reserves of natural gas, at 47.6 TCM, are the biggest in the world (see survey of Russia in this volume, Nos. 10-14. Surveys of the other oil exporting members of the CIS were serialised in the ...