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| Russia has ‘unlimited’ energy resources – Putin | |
| (about 4 hours later) | |
| The country has proven itself to be a stable partner in the energy sector, the president has said | The country has proven itself to be a stable partner in the energy sector, the president has said |
| Russia has an unlimited amount of energy resources, President Vladimir Putin said during a BRICS media gathering on Friday. He noted the importance of commodity exports to China, and described Russia as the most reliable supplier. | Russia has an unlimited amount of energy resources, President Vladimir Putin said during a BRICS media gathering on Friday. He noted the importance of commodity exports to China, and described Russia as the most reliable supplier. |
| Putin said mutually beneficial cooperation between Moscow and Beijing is helped by the fact that they are neighbors and do not need to transport fuel and other goods by water. | Putin said mutually beneficial cooperation between Moscow and Beijing is helped by the fact that they are neighbors and do not need to transport fuel and other goods by water. |
| “The entire border is shared, and the energy resources in Russia are simply unlimited,” Putin stated. | “The entire border is shared, and the energy resources in Russia are simply unlimited,” Putin stated. |
| Chinese representatives are happy to buy Russian energy resources, the president noted, adding that Russia ranks fourth in its share of China’s trade. | Chinese representatives are happy to buy Russian energy resources, the president noted, adding that Russia ranks fourth in its share of China’s trade. |
| Russia’s trade with China topped $65 billion in the first half of this year, with levels of natural-resource exports hitting new highs, Vedomosti reported in July, citing Chinese customs data. | Russia’s trade with China topped $65 billion in the first half of this year, with levels of natural-resource exports hitting new highs, Vedomosti reported in July, citing Chinese customs data. |
| Exports of Russian goods to China jumped 4% year-on-year, surging to a record $65.2 billion between January and June of this year, with oil and gas supplies accounting for nearly 90% of shipments, according to the latest figures. | Exports of Russian goods to China jumped 4% year-on-year, surging to a record $65.2 billion between January and June of this year, with oil and gas supplies accounting for nearly 90% of shipments, according to the latest figures. |
| During that period, China purchased mineral oil and other petroleum products worth $50 billion, compared to $47 billion in the same period of last year. | During that period, China purchased mineral oil and other petroleum products worth $50 billion, compared to $47 billion in the same period of last year. |
| Russia has the world’s largest natural gas reserves and is the second-largest producer of natural gas. It is the third-largest producer of oil, accounting for over 12% of global production, and its share of the enriched uranium market is estimated at 40%. The country is also among the ten largest producers of nickel, and the world’s third largest producer of titanium. | Russia has the world’s largest natural gas reserves and is the second-largest producer of natural gas. It is the third-largest producer of oil, accounting for over 12% of global production, and its share of the enriched uranium market is estimated at 40%. The country is also among the ten largest producers of nickel, and the world’s third largest producer of titanium. |