Russia Energy Profile: World's Third-Largest Producer Of Oil - Analysis Eurasia Review

Russia Energy Profile: World's Third-Largest Producer Of Oil - Analysis Eurasia Review:

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Russia is a major producer and exporter of oil and natural gas, and its economy largely depends on energy exports. Russia’s economic growth continues to be driven by energy exports, given its high oil and gas production and the elevated prices for those commodities. Oil and gas revenues accounted for 52% of federal budget revenues and over 70% of total exports in 2012, according to PFC Energy.

Russia was the world’s third-largest producer of oil (after Saudi Arabia and the United States) Preliminary data for 2013 show that Russia still is the third-ranked producer of total liquids, with average production at 10.5 million barrels per day (bbl/d) through September 2013. Russia was the second-largest producer of natural gas in 2012 (second to the United States).

Russia is the third-largest generator of nuclear power in the world and fourth-largest in terms of installed capacity. With ten nuclear reactors currently under construction, Russia is the second country in the world in terms of number of reactors under construction in 2012, according to the International Atomic Energy Agency."

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