Russia expects full replenishment of oil, gas reserves by end-2026

Russia expects to fully replenish its oil and gas reserves by the end of 2026, Natural Resources Minister Alexander Kozlov has said.

Speaking to Russian media, Kozlov said geological exploration had added 45 million tonnes of oil and condensate reserves during the first half of the year.

Gas reserves increased by 155.5 billion cubic metres over the same period, he said.

“Full replenishment of reserves is expected by the end of the year,” Kozlov said.

By Aghakazim Guliyev