Russia was called a helpless oil producer

Russian oil companies will not be able to master a significant part of hydrocarbons without Western technologies. This opinion was expressed by analysts at the World Oil Congress, Bloomberg reports .

Fadel Gate from Oppenheimer & Co noticed that Western companies feel political pressure due to criticism of Russia during the conflict in Ukraine. He also did not exclude that the United States and the European Union can expand sanctions against the Russian Federation and this will also affect oil production.

Now, as noted, Russia is one of the leading exporters of raw oil - the country produced 10 million barrels a day in 2013. At the same time, in order to maintain the pace of production, Russian companies will have to use modern technologies as hydraulic fracturing of the layer (Frexing) in order to extract hydrocarbons from shales.

The head of BP Bob Dudley, in turn, noted that while the partnership of Western companies with Russia continues "as usual."

The total oil reserves in Russia in 2013 were estimated at 80 billion barrels.