Russia’s Recoverable Oil Reserves Estimated at 31 Billion Tons

Russia has sufficient oil reserves for 62 years, though this does not mean that the country will run out of oil over that period, Deputy Prime Minister Alexander Novak stated. Novak delivered a presentation to substantiate his statement during a meeting with students. According to the materials shown, Russia's currently profitable oil reserves amount to approximately 15 billion tons, which would last for about 32 years at current production levels.