NEW DELHI, INDIA, January 09, 2009
/24-7PressRelease/ -- According to our new research report "Russian Oil and Gas Industry Analysis", exports of petroleum products from Russia are expected to grow at a CAGR of 4.26% from 2008 to 2012. Exports of petroleum products have traditionally been a major determinant of Russian economic growth, particularly during the period 2002-2006, as Russian oil production is directly correlated with global oil prices.
Russia has strong oil reserves of around 79.5 Billion Barrels, mainly concentrated in the Caspian Sea and Siberia. Moreover, Russia has the world's seventh largest oil reserve and in terms of output, it comes second behind Saudi Arabia.
Besides production, Russia is also one of the leading countries in refining capabilities, with the third largest refining industry after the US and China in 2006. So the country exports a large volume of bunker oil and diesel, says the report.
Another major reason for tremendous growth in the petroleum products exports from Russia is its geographical location; the country surrounded by the oil deficit countries such as China and many European countries that give it an edge. Russia uses a long network of pipelines to export oil to Europe and it is now planning to export oil to the Asian region through China. This plan is a result of rising energy demand in the Asian countries where the domestic production is not sufficient to meet their requirements. Thus, the future prospects of Russia as a leading petroleum product exporter seem bright.
"Russian Oil and Gas Industry Analysis" provides thorough analysis on the past and current performance of the oil and gas industry of Russia. It also gives an insight into the industry by discussing driving forces, future prospects and issues associated with it.
The research report also presents forecast on key areas of the industry, such as natural gas production, natural production by independent producers, import of natural gas from Central Asia, natural gas consumption, natural gas transportation to Asia & Europe, and domestic natural gas prices.
For more information visit: http://www.rncos.com/Report/IM078.htm
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About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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