Annual production totaled 526.753 million tons of crude oil, accounting for an increase of 0.7 percent compared to 2013, according to a report from the distribution center of the energy system Tek.

The specialized publication RBK reported that this volume is the highest record in the entire post-Soviet period in Russia, when hydrocarbon production dropped. The previous record of 11.4 million barrels a day was set in the Soviet Union in 1987.

In December 2014 alone, oil extraction increased to 45.115 million tons, accounting for an average of 10.66 million tons a day, an increase of 0.3 percent in contrast to the same period in 2013.

The leading oil companies in 2014 were the state-owned firm Rosneft, with 36 percent of production (190.898 million tons), Lukoil (86.571 million) and Surgutneftegaz (61.425 million).

According to official statistics, Russia's oil reserves are estimated at 550 million tons and gas reserves amount to 900 billion cubic meters, in addition to 100 million tons of condensed gas. (KH)