Top 5 Large Russian Oil and Gas Companies List 2021

Russia is popularly known as the world’s second largest natural gas producer and the 3rd largest oil producer. The country has a large number of major oil and gas companies. Most of the top oil companies in Russia have continued to maintain significant downstream and upstream gas and oil operations. This includes retail service stations, exploration and production divisions and petroleum refineries. This article will give an overview of the top oil and gas companies based on production volume.


This is the largest oil company in Russia. Reports show that the company produced around 1.5 billion barrels of oil in the year 2014. Besides, the company is also ranked as the 3rd largest natural gas company in the world with a production of more than 347 million barrels of oil equivalent.

The company’s market capitalization is around 38.7 billion dollars which automatically makes it the highest valued gas and oil company. Rosneft operates 13 refineries in the country and has shown tremendous interest in around seven refineries based in Eastern and Western Europe.

The company maintains exploration and production operation in countries such as Canada, Vietnam, USA, Norway and Brazil, among others. Rosneft has been the leading supplier of jet fuel in Russia.


The company is the 2nd largest oil and gas producer in the country. In 2014, Lukoil produced almost 707 million barrels of oil. Its Natural gas production is estimated to be more than 90 million BOE every year. Its Market Capitalization is valued at 27.7 billion dollars.

The company operates in 12 different countries across the Middle East, Africa and Europe. Besides, Lukoil runs power generation facilities as well as gasoline service stations in Russia, USA and Europe. The Company’s petrochemical and refining operations include six refineries in Russia as well as five refineries in Europe and New Zealand.

Gazprom Neft

The company produced approximately 482 million barrels of oil in 2014 and 104 million BOE Natural gas. Gazprom runs four refineries in Russia and one refinery in Belarus. It is good to acknowledge that Gazprom Neft is one of the subsidiaries of Gazprom – a Russian energy giant. Gazprom holds more than 95% of its shares, while the government holds 50% of Gazprom’s outstanding shares.

Gazprom Neft has production operation in Russia, Venezuela, Iraq and other countries. Its market capitalization is around $10.5 billion.


The company is focused on the domestic market. Surgutneftegas produced almost 447 million barrels of crude oil in 2014. The company runs a refinery, exploration and production activities, 300 service stations, a power generation business and a gas processing plant. Its market capitalization is over 18.5 billion dollars.


Tatneft produces gas and oil within Russia, but it also has international projects that are underway. In the year 2014, it produced more than 192 million barrels of oil and natural gas of around 5.5 million BOE. The company distributes refined petroleum products to more than 650 service stations in Ukraine, Russia and Belarus. Its market capitalization is estimated to be more than 9.7 billion dollars. The company also has a tire manufacturing facility that produced 12.5 million tires in 2013.

Other petrolium companies: Northgas, Surgutneftegas, Transneft, Russneft, Novatek.


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