PJSC Gazprom is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was, until 2023, ranked as the largest publicly listed natural gas company in the world and the largest company in Russia by revenue. In the 2020 Forbes Global 2000, Gazprom was ranked as the 32nd largest public company in the world. The Gazprom name is a contraction of the Russian words gazovaya promyshlennost. In January 2022, Gazprom displaced Sberbank from the first place in the list of the largest companies in Russia by market capitalization. In 2022, the company's revenue amounted to 8 trillion rubles. In 2023, the company is delisted from international markets, and continues substantial constriction in its operational results.
The PJSC LukoilOil Company is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, petroleum products, and electricity. It was formed in 1991 when three state-run, western Siberian companies merged. The original companies were named after their respective towns in Khanty–Mansi Autonomous Okrug that each was based in; Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz. Its new name is the combination of the acronym LUK and the English word "oil".
PJSC Rosneft Oil Company is a Russian integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products. The company is controlled by the Russian government through the Rosneftegaz holding company. Its name is a portmanteau of the Russian words Rossiyskaya neft.
Petroleum production in Canada is a major industry which is important to the overall economy of North America. Canada has the third largest oil reserves in the world and is the world's fourth largest oil producer and fourth largest oil exporter. In 2019 it produced an average of 750,000 cubic metres per day (4.7 Mbbl/d) of crude oil and equivalent. Of that amount, 64% was upgraded from unconventional oil sands, and the remainder light crude oil, heavy crude oil and natural-gas condensate. Most of the Canadian petroleum production is exported, approximately 600,000 cubic metres per day (3.8 Mbbl/d) in 2019, with 98% of the exports going to the United States. Canada is by far the largest single source of oil imports to the United States, providing 43% of US crude oil imports in 2015.
The Caspian Pipeline Consortium (CPC) is a consortium and an oil pipeline to transport Caspian oil from Tengiz field to the Novorossiysk-2 Marine Terminal, an export terminal at the Russian Black Sea port of Novorossiysk. It is one of the world's largest pipelines and a major export route for oil from the Kashagan and Karachaganak fields. The CPC pipeline transfers about 1% of global oil supply and handles almost all of Kazakhstan's oil exports. In 2021, the pipeline exported up to 1.3 million barrels per day (bpd) of Kazakhstan's main crude grade, light sour CPC Blend, which represented 80% of Kazakhstan's total oil production of 1.6 million bpd.
Naftna Industrija Srbije is a Serbian multinational oil and gas company with headquarters in NIS building, Novi Sad, Serbia. NIS is one of the most profitable companies in Serbia and one of the largest domestic exporters. It employs around 11,000 people in Serbia and the region. As of May 2022, Gazprom Neft is the largest shareholder with 50% of NIS shares, followed by 29.87% owned by the Government of Serbia, 5% owned by Gazprom and rest by minority shareholders.
Russia's energy policy is presented in the government's Energy Strategy document, first approved in 2000, which sets out the government's policy to 2020. The Energy Strategy outlines several key priorities: increased energy efficiency, reducing the impact on the environment, sustainable development, energy development and technological development, as well as improved effectiveness and competitiveness. Russia's greenhouse gas emissions are large because of its energy policy. Russia is rich in natural energy resources and is one of the world's energy superpowers. Russia is the world's leading net energy exporter, and was a major supplier to the European Union until the Russian invasion of Ukraine. Russia has signed and ratified the Kyoto Protocol and Paris Agreement. Numerous scholars posit that Russia uses its energy exports as a foreign policy instrument towards other countries.
The Energy in Russia is an area of the national economy, science, and technology of the Russian Federation, encompassing energy resources, production, transmission, transformation, accumulation, distribution, and consumption of various types of energy.
Petroleum has been a major industry in the United States since shortly after the oil discovery in the Oil Creek area of Titusville, Pennsylvania, in 1859. The industry includes exploration, production, processing (refining), transportation, and marketing of natural gas and petroleum products. In 2018, the U.S. became the world's largest crude oil producer, producing 15% of global crude oil, surpassing Russia and Saudi Arabia. The leading oil-producing area in the United States in 2019 was Texas, followed by the offshore federal zone of the Gulf of Mexico, North Dakota and New Mexico. In 2020, the top five U.S. oil-producing states were Texas (43%), North Dakota (10.4%), New Mexico (9.2%), Oklahoma (4.1%), and Colorado (4.0%).
Energy security of the People's Republic of China concerns the need for the People's Republic of China to guarantee itself and its industries long- term access to sufficient energy and raw materials. China has been endeavoring to sign international agreements and secure such supplies; its energy security involves the internal and foreign energy policy of China. Currently, China's energy portfolio consists mainly of domestic coal, oil and gas from domestic and foreign sources, and small quantities of uranium. China has also created a strategic petroleum reserve, to secure emergency supplies of oil for temporary price and supply disruptions. Chinese policy focuses on diversification to reduce oil imports, which used to rely almost exclusively on producers in the Middle East.
The Vankor Field is an oil and gas field in Russia, located 130 kilometres (81 mi) west of Igarka in the Turukhansk District of Krasnoyarsk Krai in Eastern Siberia, close to the border with Yamalo-Nenets Autonomous Okrug. Its estimated reserves are 520 million metric tons of oil and 95 billion cubic meters of natural gas. Production was launched in August, 2009. The field is operated by Russian national oil company Rosneft through its subsidiary Vankorneft.
Iran is an energy superpower and the petroleum industry in Iran plays an important part in it. In 2004, Iran produced 5.1 percent of the world's total crude oil, which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency. At 2006 levels of production, oil proceeds represented about 18.7% of gross domestic product (GDP). However, the importance of the hydrocarbon sector to Iran's economy has been far greater. The oil and gas industry has been the engine of economic growth, directly affecting public development projects, the government's annual budget, and most foreign exchange sources.
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2023 inflation surge.
The 2021–2022 global energy crisis has caused varying effects in different parts of the world.
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on 3 December 2022, the European Union (EU) agreed to cap the price of natural gas in order to reduce the volatility created by Russia in the gas market.
As part of the sanctions which have been imposed on the Russian Federation as a result of the 2022 Russian invasion of Ukraine, on 2 September 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort which was intended to reduce Russia's ability to finance its war on Ukraine and curb further increases in the 2021–2022 inflation surge.
