Russia’s oil and gas reserves are slowly shrinking due to their constable production, says the rector of St. Petersburg Mining Institute Vladimir Litvinenko. He claims that Russia may run out of oil in 10 years and gas in 20 years approximately.
      
      The professor noted that the volume of anticipated oil deposits is estimated at 40 billion tones, 25% of which are on the continental shelf. Besides, almost 90% of all discovered in the last century economic reserves of liquid hydrocarbons are already in operation, he added.
      
      source:
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