Russian oil sector rebound under full swing

Russia's oil sector is riding the crest of a strong revival. Russian oil production has rebounded, after falling almost 30% after the collapse of the Soviet Union in 1992. The wells on this pad are in ZAO Tatex's Demkinsky oil field 150 km west of Almetyevsk, Tatarstan Republic, Russia. Tatex is a 50:50 partnership of Texneft Inc., a subsidiary of Oklahoma City-based Devon Energy Corp., and OAO Tatneft, a Russian oil major with operations in Tatarstan. Photo by Dean E. Gaddy, Devon operations manager-Russia.Click here to enlarge image"Russia has become the world's largest oil producer and has taken a firm grip of global leadership in the export of hydrocarbon products," Russian ...

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