Russian oil reserves increase to 600 million tons, gas reserves - to 900 billion cubic meters in 2011

The latest geological explorations in Russia increased estimates of oil reserves to 600 million tons, gas - to 900 billion cubic meters, Russian Minister for Natural Resources and Ecology Yuri Trutnev said, RIA Novosti reports.

The minister noted that geological explorations have been held for 6 years now. New reserves of oil, gas, gold, nickel, iron and coal increase every year. The results of geological explorations in 2011 will be published in January and February.

Russia will extract 510 million tons of oil and 667 billion cubic meters of gas by the end of 2011, Russian Energy Minister Sergey Shmatko said.