Contents tagged with USA. Russian oil
-
Russia has only 7 years of oil remaining
The Russian economy, which has been based almost exclusively on oil and gas exports since Soviet times, is now facing a countdown.
The old Soviet-era deposits are being rapidly depleted, and the country has been unable to find new deposits with oil that can be extracted easily and cheaply, reports finanz.ru.
The current levels of oil extraction in Russia “are inadequately ensured by the reserves of the deposits being developed,” according to a document titled “Strategy of the mineral raw …