Country Analysis Brief Overview
Russia is the second-largest producer of dry natural gas and third-largest liquid fuels producer in the world. Despite its significant reserves of coal, it produces only modest amount of coal. Russia's economy is highly dependent on its hydrocarbons, and oil and gas revenues account for more than 50% of the federal budget revenues.
Russia was the third-largest producer of liquid fuels in 2012, following the United States and Saudi Arabia. During that year, liquid fuels production averaged 10.4 million bbl/d.
Russia's Transneft holds a near-monopoly over Russia's pipeline network, and pipeline exports account for the vast majority of Russia's crude oil exports.
Russia holds the largest natural gas reserves in the world, and is the second-largest producer of dry natural gas.
Russia is one of the top producers and consumers of electric power in the world, with more than 220 gigawatts of installed generation capacity. In 2011, electric power generation totaled approximately 996 billion kilowatthours, and Russia consumed about 861 billion kilowatthours.
Despite its sizeable reserves, Russia's production of coal is relatively modest, the country ranks sixth largest in the world coal production.
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PLATTS - Asia is a growing market for Russian energy, including LNG, and a potential source of investment for the world's largest producer of resources and minerals. The Kremlin has increasingly looked to build its presence in the Asian region following the imposition of tough sanctions by the US on Russia.
REUTERS - “The Saudis are very angry at Trump. They don’t trust him any more and feel very strongly about a cut. They had no heads-up about the waivers,” said one senior source briefed on Saudi energy policies.
PLATTS - "It is obvious that we need to cooperate with Saudi Arabia, and we are going to cooperate with Saudi Arabia. OPEC plus has been very positive, and we see that in the market situation," Putin told reporters in Singapore during a briefing broadcast on Russia 24.
U.S. OFR - The U.S. Office of Financial Research (OFR) released its 2018 Annual Report to Congress, stating that risks to U.S. financial stability remain in the medium range, reflecting a mix of high, moderate, and low risks to the financial system.