When Russia will run out of oil - government data
Despite the opinions of a number of oil industry experts that Russia’s “black gold” resource is limited to 30 years, we can say with complete confidence that the country will not experience an oil shortage for at least another century.
Deputy Minister of Energy of the Russian Federation Anton Inyutsin stated this at the All-Russian youth educational forum “Territory of Meanings,” a PolitNavigator correspondent reports.
“I am confident that there will be enough oil for another 100 years, at least judging by the outlines and deposits that exist today,” said the Deputy Minister of Energy. “But it’s getting harder and harder to get.” Today there is the Bazhenov Formation - a huge region into which companies are entering on a pilot basis to extract the first barrels of oil. This is a technology issue, and companies will deal with it in the future.”
In addition, according to Inyutsyn, soon “black gold” will be widely used not only for the production of fuel, but also food.
“In the future, oil will be used not only as fuel. This will be a huge range of products. 80% of the objects that surround us are oil, oil and gas, petrochemicals. Last year, the UK processed about 7 million tons of oil to produce food additives. In fact, people are already eating oil,” Inyutsyn said.
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