Oil is still main fuel in the world. However, proportion of oil in other energies has descended continuously for 14 years. In 2013, proportion of oil is less than 33%. Based on calculation of analysts, total global oil reserves can only be used for 53 years and gas reserves can be used for 55 years with the current exploiting level. Last year, oil exploited in Russia accounted for 12.9% of total oil output, less than Saudi Arab the first oil producer in the world by just 0.2%. But Russia has less proven oil reserves, only accounting for 5.5% of global oil reserves, which means that Russia are accelerating the consumption of its oil reserves.

 

Just like before, the further increase of Russian oil output will come from Siberia. Dvorkovic, the vice Prime Minister of Russia predicts that more than one trillion USD will be invested to exploitation of oil fields in the eastern of Siberia. By the end of 2035, the exports of petroleum and petroleum products from Ruassion to eastern countries will increase from the current 12% to 35%.

 

The proceeding is considerable. Because the demands of oil products in European market are descending, which are contrary to China and other countries in Asian-Pacific area. While in foreseeable future, Europe will still be major consumer of Russian gas and oil. At present, oil companies resort to develop and apply new technology in exploitation to increase oil yield of rock stratum. So that this work might bring profits in the future.  Russian government is considering coefficient, called as tax maneuver in oil industry.

 

Robert Dudley, executive director of BP considers that Russia is one of four countries having clear plans to exploit oil and gas in shale. The other three countries are Algeria, China and Argentina. Report published by BP shows that 70 ten thousands barrel of shale oil will be exploited in South America daily in 2035 and exploitation in Russia will reach to 80 ten thousands barrel per day. While experts of IEA (International Energy Agency) consider that American shale gas reformation cannot be reproduced in other countries. Shale oil cannot cause important influence in market in near future. 

 

Otherwise, oil output exploited from shale in the U.S. is increased sharply, which has resulted in Saudi Arab and Venezuela seeking new sales market including Asian countries. Previously, EIA (U.S. Energy Information Administration) has announced that Russian has more shale oil reserves than the U.S. The largest Russian shale oil field whose reserves are estimated to more than 12.4 trillion barrels is located at Bazhenov Shale. The analysts of The Economist Intelligence Unit consider that the oil field will produce 1 million to 2 million barrels of oil daily in 2020.