Soviet oil industry woes may extend crisis

Journal Article · Mon Jun 03 04:00:00 EDT 1991 · Oil and Gas Journal; (United States)

OSTI ID:6145785

Overall, the Soviet Union apparently has more BTU of principal fuels - oil, gas, and coal - than any other nation in the world. The West has expressed willingness, even eagerness, to help the U.S.S.R. develop its abundant energy resources. However, Moscow has demonstrated that it can be a difficult partner. What could change the entire scenario of Soviet/western cooperation in achieving a Russian petroleum industry rebound is the possibility that the U.S.S.R. will slip from deep crisis into complete political, economic, and ethnic chaos. This could lead to a breakup of the union, would likely stifle perestroika's reforms, might cause rejection of Western assistance (or increased reluctance by the West to provide it). The Soviet Union's petroleum industry has been battered during the past 3 years by the most severe and broad based setbacks ever suffered by a nation not involved in a major war or crippled by deliberate government decisions to limit oil flow. If early 1991 results are a reliable indicator, the U.S.S.R.'s recovery from its present oil crisis will take considerable time. But there is general agreement among western geologists and economists that the Soviet Union can, by adopting a rational energy policy and attracting substantial Western financial and technological assistance, halt the drop in crude/condensate production by the mid-1990s. Some observers believe that the most frequently cited estimates of current U.S.S.R. explored (proved plus probable) oil reserves are low and that the nation's ultimate crude/condensate reserves are enormous.

• OSTI ID: 6145785
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 89:22; ISSN 0030-1388; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
294001 -- Energy Planning & Policy-- Coal
294002* -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
ASIA
COAL DEPOSITS
COAL SEAMS
COOPERATION
DEVELOPED COUNTRIES
ECONOMIC GROWTH
EUROPE
GEOLOGIC DEPOSITS
INDUSTRY
INTERNATIONAL COOPERATION
MINERAL RESOURCES
NATURAL GAS DEPOSITS
NATURAL GAS INDUSTRY
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
RESOURCE ASSESSMENT
RESOURCES
USSR