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Page added on April 16, 2018

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Russian Oil Production Is About To Peak and Start Declining in the Near Future

Russian Oil Production Is About To Peak and Start Declining in the Near Future thumbnail
According to Finanz, with reference to the International Energy Agency, Russia has been benefitting from its oil production and export for decades. However, this is about to change in the future since the Russian oil industry is about to see its production peak, which means it will inevitably start going down further down the road.
According the IEA’s 2018 oil report, there is no way Russian oil companies are going to boost their oil production forever. Moreover, in 3 years, the Russian oil industry is about to reach its all-time high and start declining steadily.

Last year, Russia produced 11,2 million barrels of crude oil, which is still the highest production level in 29 years. In 2021, the production level is going to peak at 11,74 million barrels. Shortly after that, the production is expected to start declining.

It’s interesting to note that this gloomy forecast made by the IEA has been confirmed by Russian stats. Yet, the newly-opened oil fields are unable to make up for the boosting production. For instance, according to RusEnergy , the average size of the oil fields discovered n 2016-2017 is 1,7 million tons, which is under 30% of the current oil export to China.
Some experts in Russia assume that after peaking at some time after 2020, the production is definitely going to start declining rather fast – up to 10% a year. This contradicts, the Russian government’s promises to preserve the production above 525 million tons a year up until 2035. If the forecast is correct, in 2035 Russia will be producing around 6 million barrels a day to barely cover internal needs. With that being said, there will be nothing to export.

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47 Comments on "Russian Oil Production Is About To Peak and Start Declining in the Near Future"

  1. MASTERMIND on Mon, 16th Apr 2018 1:08 pm 

    And when their oil peaks they will collapse again. LOL So long Putin you fucking bitch! I hope the Russian people rise up against this bastard and hang him from a lamp post!

  2. dissident on Mon, 16th Apr 2018 1:13 pm 

    Minimind the retard. Oil and gas account for 7% of Russia’s GDP. Total resource rents account for 10%. Look it up on the World Bank site.

    I have been hearing about this imminent collapse of Russian oil production since 2006. It must be magic, keep on making these forecasts and they will keep on failing. LOL.

  3. MASTERMIND on Mon, 16th Apr 2018 1:14 pm 

    HAHA Russia is doomed! Suck it Madkat and Clogg1 I told you idiots this before!

  4. MASTERMIND on Mon, 16th Apr 2018 1:16 pm 

    dissident

    Russia has a GDP that is smaller than Italy. And your stats are bullshit that is why you didn’t cite any sources. Now go back to your cave you neckbeard troll!

  5. MASTERMIND on Mon, 16th Apr 2018 1:22 pm 

    International Energy Agency says oil price spike coming in 2020

    https://www.usatoday.com/story/money/2017/09/19/iea-oil-price-spike-coming-2020/679584001/

    2020’s are going to be the last decade of the human race…Debt bubble, stock bubble, oil crisis, etc,etc…..limits to growth will be vindicated!
    https://imgur.com/a/pYxKa

    To anyone reading this I suggest you enjoy the next few years. Take a vacation if you can..Because in the next decade things are going to be turned upside down in your life. And you are not going to be very happy about it. Anarchy and chaos will reign! and then the murder, raping, and killing worldwide will begin!

  6. Cloggie on Mon, 16th Apr 2018 1:32 pm 

    China’s container fleet overtakes Germany as the new #1

    http://www.spiegel.de/wirtschaft/soziales/schifffahrt-china-besitzt-jetzt-die-groesste-containerflotte-der-welt-a-1203149.html

    “Russia has a GDP that is smaller than Italy.”

    But Russia has a potent military that can defeat the US in Syria. OK that doesn’t mean much since Iraq, Afghanistan and North-Vietnam could do that too.

  7. Cloggie on Mon, 16th Apr 2018 1:35 pm 

    Russia is a nice to have for Europe, after the populist takeover.

    Meanwhile the war of media and deep state against Trump continues:

    https://youtu.be/byEkp7BsQjI

    We in Eurasia should prepare for WW3, directly after Trump.

  8. MASTERMIND on Mon, 16th Apr 2018 1:44 pm 

    Since about 2009, you could go to Google News and simply type “Poland” “Belarus” “Ukraine” “Lithuania” etc. and get TONS of articles about NATO transferring massive amounts of military technology to former Soviet states–as well as moving their own military assets closer to Russia. The vast majority of Americans are completely unaware that NATO has been building up an army on Russia borderlands for the last decade or so.

  9. Dredd on Mon, 16th Apr 2018 1:57 pm 

    Russian Oil Production Is About To Peak and Start Declining in the Near Future

    Whether accurate or not, this alludes to something not discussed or debated sufficiently.

    Peak oil is a regional concept, not a universal concept.

    By that I mean oil producing wells, like oil producing geographical areas, will not ‘peak’ or decline at the same time.

    Yet, the concept of “peak oil’ is discussed as if the peak oil gang (present company included) urge the notion that all oil availability, usage, and production will go lights out at the same instance.

  10. Cloggie on Mon, 16th Apr 2018 2:00 pm 

    “The vast majority of Americans are completely unaware that NATO has been building up an army on Russia borderlands for the last decade or so.”

    Big deal, Americans are only interested in Schwarzball.

    https://en.m.wikipedia.org/wiki/Shanghai_Cooperation_Organisation

    http://foreignpolicy.com/2018/04/03/italys-populists-can-beat-europes-establishment/

    https://www.rt.com/news/413431-austria-fpo-russia-sanctions/

  11. Dooma on Mon, 16th Apr 2018 2:09 pm 

    “And when their oil peaks they will collapse again. LOL So long Putin you fucking bitch! I hope the Russian people rise up against this bastard and hang him from a lamp post.”

    MM, I have a peer-reviewed report here that informs me that you are an angry young, immature kid. Posts such as the one above prove this. A word of advice, with the current tensions between Russia and the US, expect to see some propaganda.

    Have a look at the source of the article; it came from a site that sells financial advice. Cash for comment.

    You have a lot to learn in life. Here is some information for free. The Russian people LOVE Putin. A revolution? I don’t think so.

  12. dissident on Mon, 16th Apr 2018 2:21 pm 

    Minimind, you retard, anyone who uses nominal exchange rates to compare the GDP of different countries is exactly a retard. The only meaningful comparison is that based on purchasing power parity which accounts for difference in prices in national currencies within each country. The PPP GDP of Russia is just over that of Germany, around $4 trillion.

    Look it up on the World Bank site.

  13. Davy on Mon, 16th Apr 2018 2:43 pm 

    The only meaningful comparison is that based on purchasing power parity which accounts for difference in prices in national currencies within each country.

    “Only meaningful” Nope it is one of several important comparisons. You extremist agendist love to take what fits your agenda the best and say “here” “look”.

  14. cottager on Mon, 16th Apr 2018 2:49 pm 

    dissident, you’re rather retard yourself. Export of Mother Russia ~60% consists of hydrocarbons, budget income ~40% direct taxes on hydrocarbons. And don’t tell about GDP, i. e. something that russians are paying one to another. No income from hydrocarbons=empty russian budget. PPP was invented so that poor nations would not look so poor, but remember, that Russia imports a lot, even tools to mine those hydrocarbons, and paying same price like others.

  15. Cloggie on Mon, 16th Apr 2018 3:06 pm 

    “you’re rather retard yourself.“

    Stop the presses, here we have somebody who can spell – ”you’re” – correctly!

  16. Norman Pagett on Mon, 16th Apr 2018 3:06 pm 

    all conflict is over resources

    this has been true of every war in history—leader, when faced with critical depletion must strike outwards to grab essential material from a weaker neighbour

    The EU was created in the first instance to prevent European nations invading each other once every generation for this exact purpose.

    When the crunch comes in Russia, they will thrust out to grab the mean of survival—but of course the act of invasion will reduce availability of the stuff they want—yet they will do it, because they know no other way—there is not in fact, any other way

    we have burned our oil as fast as we could, now we expect it to provide our good life into infinity

    The same applies to the USA—they too are living beyound their oil-means.
    America is already involved in oil wars—again, they have no choice,

    Without cheap oil, we face tyranny and anarchy

    https://extranewsfeed.com/from-oilslick-to-tyranny-e35d04b31fc3

  17. Cloggie on Mon, 16th Apr 2018 3:08 pm 

    “You extremist agendist”

    Me Tarzan, you Jane.

  18. Davy on Mon, 16th Apr 2018 4:00 pm 

    Birds of a feather flock together and stupid is and
    stupid does, a common denominator.

  19. MASTERMIND on Mon, 16th Apr 2018 4:39 pm 

    IEA: Russia’s oil output to reach its peak in 2020
    http://vestnikkavkaza.net/news/IEA-Russia%E2%80%99s-oil-output-to-reach-its-peak-in-2020.html

    Free the Russian people from the great evil Putin. Who runs fake elections. even Snowden said his last election was fake. The Russian people are just poor, and very ugly slobs. LOL

  20. MASTERMIND on Mon, 16th Apr 2018 5:07 pm 

    GDPNow – Federal Reserve Bank of Atlanta-first quarter of 2018 is 1.9 percent

    https://www.frbatlanta.org/cqer/research/gdpnow.aspx

  21. Boat on Mon, 16th Apr 2018 5:23 pm 

    Mm

    Once Russia takes a class in How to Win Friends and Influence People sanctions will be removed and Texas will take those fields on allowing Russia to set yet another peak. They just need help.

  22. MASTERMIND on Mon, 16th Apr 2018 5:28 pm 

    Boat

    You can’t create another peak without new discoveries! How many times do I have to tell you this?
    https://imgur.com/a/pYxKa

  23. MASTERMIND on Mon, 16th Apr 2018 5:44 pm 

    GM claims the Chevy Bolt gets 238 miles per charge. Here’s why that’s misleading.

    https://www.washingtonpost.com/news/innovations/wp/2018/04/16/gm-claims-the-chevy-bolt-gets-238-miles-per-charge-heres-why-thats-misleading/?noredirect=on&utm_term=.9861f4761073

  24. Boat on Mon, 16th Apr 2018 5:44 pm 

    Mm

    They haven’t even started fracking yet, to scale. Billions in the artic. You know nothing about oil.
    They were setting records in production when they decided raise prices and cut production. Unplug from dumb-as-rock links and join the oil science league.

  25. Boat on Mon, 16th Apr 2018 6:00 pm 

    Mm

    What does the word untapped mean to you. Look, Russians are not that smart, they need lots of help. When oil gets to $80 they will be begging for help. Money solves all disputes in the end.

  26. MASTERMIND on Mon, 16th Apr 2018 6:14 pm 

    Boat

    German Army leaked peak oil report,

    “Psychological barriers cause indisputable facts to be blanked out and lead to almost instinctively refusing to look into this difficult subject in detail. Peak oil, however, is unavoidable.”

    http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf

    Here are 32 mainstream articles and over a dozen peer reviewed scientific papers.
    https://imgur.com/a/pYxKa

  27. MASTERMIND on Mon, 16th Apr 2018 6:19 pm 

    Peak oil is not a myth -The Royal Society of Chemistry

    Current data for the decline in oil fields’ production indicates that around 3 million barrels per day of new production must be achieved year on year, simply to sustain supply levels. This is equivalent to finding another Saudi Arabia every 3–4 years. In this context, fracking is at best a stop-gap measure. Conventional oil production is predicted to drop by over 50% in the next two decades and tight oil is unlikely to replace more than 6%.

    Once conventional oil’s rate of loss exceeds unconventional oil’s rate of production, world production must peak. Production of sweet, light crude actually peaked in 2005 but this has been masked by the increase in unconventional oil production, and also by lumping together different kinds of material with oil and referring to the collective as ‘liquids’. (More recently, the term ‘liquids’ is often upgraded to ‘oil’, which is highly disinformative since the properties of the other liquids are quite different from crude oil.)
    https://www.chemistryworld.com/opinion/peak-oil-is-not-a-myth/7102.article

  28. JuanP on Mon, 16th Apr 2018 6:48 pm 

    Another version of the Syrian attack.
    https://www.rt.com/news/424327-syria-missiles-us-airfields/

  29. Anonymouse1 on Mon, 16th Apr 2018 7:01 pm 

    That is hardly surprising. The fake ‘international coalition’, of uS and israei lackeys, has been claiming they have been bombing something called ‘isis’ (or variants), for years. When in reality, whatever bombing the uS has done, has been directed at Syrian gov’t forces and civilian infrastructure. That is to say, the ‘terrorists’ were not the targets at all. Likewise, these strikes, wouldn’t be directed at so-called chemical weapons sites, since Syria likely does not have anything one could identify as such. The uS, i’m sure, has plenty of other targets they would have liked hit, that have nothing to do with alleged, CW sites.

    Just like it had plenty of (other) targets to bomb while ignoring the endless conveys of its USlamcic state proxies siphoning Syria’s oil to middleman in turkey.

    Same idea.

  30. MASTERMIND on Mon, 16th Apr 2018 7:38 pm 

    Projection of world fossil fuels by country (Mohr, 2015)

    Over 900 different regions and subfuel situations were modeled using three URR scenarios of Low, High, and Best Guess. All three scenarios indicate that the consistent strong growth in world fossil fuel production is likely to cease after 2025. The Low and Best Guess scenarios are projected to peak before 2025 and decline thereafter. The High scenario is anticipated to have a strong growth to 2025 before stagnating in production for 50 years and thereafter declining.

    https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Country-Mohr-2015

  31. Boat on Mon, 16th Apr 2018 7:40 pm 

    Amouse

    What the US does is irealavent as Putin takes pride in winning. He declared victory. All this attention going to anything other than the masterminds victory is rather rude.

  32. MASTERMIND on Mon, 16th Apr 2018 8:13 pm 

    Putin is going to end up hiding in a dirt hole like Saddam. Or with a knife shoved up his asshole like Gadafi!

  33. Newfie on Mon, 16th Apr 2018 8:33 pm 

    “there is no way Russian oil companies are going to boost their oil production forever.” What ?! You mean oil is not infinite ? There must be some mistake. Hee hee hee.

  34. makati1 on Mon, 16th Apr 2018 8:46 pm 

    Grow up MM. You sound like a 12 year old.

  35. Anonymouse1 on Mon, 16th Apr 2018 9:08 pm 

    The exceptionalist has a long history of sharing and incorporating his anatomical fetishes into his ranting and commentary. He might call himself ‘mushmind’ 1/2 the time now, but he can’t disguise his….fascination with orifices..human or otherwise. Seems he cant help himself.

  36. MASTERMIND on Mon, 16th Apr 2018 9:11 pm 

    Hey those two things really happened to those people. So there is no reason to believe they won’t happen to Putin, or worse in the future. Be patient! The show must go on! The American way of life is non negotiable!

  37. Cloggie on Mon, 16th Apr 2018 11:40 pm 

    Putin is going to end up hiding in a dirt hole like Saddam. Or with a knife shoved up his asshole like Gadafi!

    Then you must hurry up because according to your own fantasies, the world is going to collapse by 2020. But you didn’t believe in catastrophic climate change when you were still apneaman and you don’t believe peak-oil either now. All you believe in is your anti-white revolution in North-America.

    In reality a ring of steel is positioned around the US deep state, whose crimes you and meathead so passionately defend. Russia, China, European and American populists are a little too much on your plate to swallow. For you it will be train-time-to-the-east again soon, that is this time from Vancouver to NY-State. After Trump the joint will fall apart.

    Be patient! The show must go on! The American way of life is non negotiable!

    Make up your mind, idiot. What is it, collapse or what?

  38. Richard on Tue, 17th Apr 2018 8:25 am 

    When the soviet empire still existed, the crude oil in Russian went into decline in 1987.

    As for Mastermind’s comment on Putin, his term finishes in 2024.

  39. rockman on Tue, 17th Apr 2018 10:32 am 

    Newfie – “there is no way Russian oil companies are going to boost their oil production forever.” True. But that doesn’t mean Russia won’t reach or get very close to a new peak in 25 or 35 years. The US came very close more then 3 decades after it peaked. We do know that Russia has a huge amount INPLACE RESERVES. How much of those will it be producing (or not producing) in the next 3 decades?

    I wouldn’t make a fool of my self predicting such a rate. We have enough fools to do that for me. LOL.

  40. Cloggie on Tue, 17th Apr 2018 2:48 pm 

    “And when their oil peaks they will collapse again. LOL So long Putin you fucking bitch! I hope the Russian people rise up against this bastard and hang him from a lamp post!”

    Ouch what a loser frustration within millimind! What a self-exposure. The Russians have zero intention at rising up against their best leader in a century (the competition wasn’t stiff though).

    Berezovsky, the kosher fool who brought Putin to power, had no choice but to commit suicide out of embarrassment of killing of the NWO project.ROFL

    One century of sneaking upon an unsuspecting world and one kosher ruining it all:

    https://www.bloomberg.com/view/articles/2017-09-27/america-s-new-world-order-is-officially-dead

    Well done Vlad! And the real fun has yet to begin! Eurasia outnumbering Anglosphere 5:1, uhoh. And half of the Anglos flirting with populism.

    Poor millimind, another geopolitical catastrophe to the tune of 1492-Grenadais looming, which took them two centuries to recover from.

  41. makati1 on Tue, 17th Apr 2018 8:03 pm 

    “Birds of a feather flock together and stupid is and stupid does, a common denominator.”

    Birds of a feather: Davy, MM, Boat, Etc. The retard gang that never grew up or got an education.

  42. MASTERMIND on Tue, 17th Apr 2018 9:13 pm 

    Madkat

    I have a college education. You don’t. You were a stupid construction worker. And your cognitive abilities have declined for over fifty years.

  43. makati1 on Tue, 17th Apr 2018 9:33 pm 

    MM, you have a piece of paper saying that you attended classes often enough to get it. It does NOT indicate intelligence or that you actually learned anything important.

    I was a construction worker, a lab technician (yes, a chemical lab for 3 years) a cabinet makers apprentice for two years, a draftsman/designer, construction estimator, project manager, Army officer (artillery/armor/medical etc. SEVENTY THREE years of living in the REAL world. MY knowledge, wide experience and education is so far ahead of you that you will never catch up. Never.

    “You were a stupid construction worker. And your cognitive abilities have declined for over fifty years.”

    You have not even gotten farther than the 3rd grade level of maturity.

  44. MASTERMIND on Tue, 17th Apr 2018 9:38 pm 

    Madkat

    You made cabinets WOW! I am so impressed! Were they made of oak or maple? LOL

  45. makati1 on Tue, 17th Apr 2018 9:44 pm 

    Actually they were made out of black walnut, cedar, cherry, etc. Your sarcasm s wasted on me. You put down the very trades that make YOUR life possible, whereas, a chemist will not be needed when survival is the name of the game. You have no tradeable skills to barter for necessities. I do. Who is the better off? Your piece of paper or my 50+ years of learning needed skills? LOL

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