LOC20:18
17:18 GMT
MOSCOW, July 12 (KUNA) -- Russia has oil reserves of 17.8 billion tons and
natural gas reserves of 48.8 billion cubic meters, which makes the country
holds the world's largest reserves in these two commodities, the Interfax
reported Friday.
Russian Minister of Natural Resources and the Environment Sergey Donskoy
told the press that revealing this vital information would help generate more
investments opportunities in Russia, especially in the extraction and
production of hydrocarbons.
Nonetheless, the ministry announced earlier recently that oil production
will not exceed 520 million tons in the next three years.
Before the release of the official data Russia was placed second in the
world by gas reserves after Iran, with 32.9 trillion cubic meters, and eighth
by crude oil reserves, after Venezuela, Saudi Arabia, Canada, Iran, Iraq,
Kuwait and UAE, with 11.8 trillion cubic meters of oil. (end)
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KUNA 122018 Jul 13NNNN