Oil and condensate reserves increased by 592 million tons and natural gas by 708 billion cubic meters, surpassing the previous year's production levels of 516 million tons and 685 billion cubic meters respectively.
Russia discovered 39 new hydrocarbon fields, resulting in a total of 63.5 trillion cubic meters of natural gas reserves and 31.4 billion tons of oil reserves.
The country has recoverable reserves of natural gas for over 100 years and oil for about 64.5 years at the current production levels.
Last year, investments in oil and gas exploration reached 320 billion rubles ($3.3 billion), the same level as the previous year. In January, Russia's federal budget revenues from oil and gas remained stable compared to December 2024, showing an increase of 16.9% compared to January 2024.
On Jan. 21, Bloomberg reported that Russia's seaborne crude oil exports fell to their lowest level since November after former U.S. President Joe Biden imposed sweeping sanctions on the country's oil trade. This was the first clear indication that these measures are beginning to disrupt oil flows.