Russia replaced its oil and natural gas reserves last year, thanks to new large discoveries, according to a state commission. New reserves of crude oil and gas condensate amounted to 550 million metric tons in 2023, the State Reserves Commission said, as quoted by Reuters. At the same time, Russia’s oil production was 523 million tons, equal to 10.
46 million barrels per day (bpd), last year, according to the commission. Natural gas reserves were also fully replaced in 2023, as new reserves stood at 705 billion cubic meters, while gas production…Russia Says New Discoveries Fully Replaced Its Oil and Gas Reserves in 2023
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