Tendencies of development of oil and gas complex of Russia

In 2012 oil production in Russia exceeded plans of the Ministry of Energy of the Russian Federation by 4 million tons. It increased by 7 million tons in comparison with 2011 and amounted to more than 518 million tons. In addition, the volume of primary oil processing increased by 10 million tons to 266 million tons, while the share of processed oil in the structure of production increased from 50.1% to 51.3%. The volume of Russian oil export continued to decline and in 2012 amounted to 239.6 million tons. In the regional structure oil production in the traditional oil-producing regions (Western Siberia and European regions of Russia) has stabilized. At the same time there remained a significant rate of growth of oil production in Eastern Siberia: in 2012 oil production in the region increased by more than 29% compared to 2011, and the region's share of oil production in Russia was 6.8%. Increase of the volume of liquid hydrocarbons production occurs due to reaching full production capacity of Vankorskoye (Krasnoyarsk Region), Talakansky (Republic of Sakha), Verkhnechonskoe (Irkutsk Region) deposits. At the end of 2012 the total production capacity of primary oil processing in Russia amounted to 279 million tons, and capacity utilization level increased to 95%, which is the highest level in recent years. The volume of primary oil processing amounted to 266 million tons, exceeding the historical maximum since the collapse of the Soviet Union. In the structure of petroleum product output production of heavy and medium fractions, primarily, fuel oil (37.6%) and diesel fuel (35.2%) continued to dominate. However, over the last year production of gasoline increased significantly (by 4.1%), and its share in the production of petroleum products increased from 18.7% to 19.3%. In 2012 Russia continued building export facilities of liquid hydrocarbons both at the traditional European direction as well as at a relatively new direction for Russia Asia Pacific. In 2012 an oil transshipment terminal in seaport Ust-Luga was put into operation with design capacity of 30 million tons, which is the final destination of BPS-2 oil pipeline. In December 2012the second stage of the ESPO pipeline was put into operation, which allows to significantly increase the supply of oil from fields in Siberia to the Far East seaport Kozmino with access to markets in Asia Pacific.

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