Data Media Systems launches Russian Energy Projects Database
Posted: 24 April 2006
Data Media Systems has released one of the first databases on energy & Industry projects which provides detailed information about project related opportunities in the Russian federation.
After the successful release of the China database, Data Media Systems (DMS) has launched its Russia database.
DMS have also opened a new office in Moscow to provide locally sourced comprehensive project information and support for the Russian database.
Russia has been a major oil producer for four decades, having grown from supplying about 2.5 million barrels per day in 1960 to current production of more than 8 million barrels per day. It owns approximately 13 per cent of the world's known oil reserves and 34 percent of natural gas reserves. It produces 12 per cent of the world's primary energy.
Russia ranks first in export of gas and second in oil and oil products.
With its massive oil and gas resources, Russia is certain to play a key role in world energy markets.
The fuel and energy sector of Russia comprises about one-quarter of its GDP, one-third of industrial output, and about one-half of federal budget revenues and hard currency earnings.
GDP growth in Russia amounted to 6.4 per cent in 2005 and predicted to 5.3 per cent in 2006.With continued reforms, Russia can retain the leadership in oil and gas production for many more decades.