Gazprom: Biggest Overall Producer of Oil and Gas; Trebles Levels of Nearest Rival ...

Gazprom has been named the biggest overall producer of oil and gas, almost trebling the levels of its nearest rival, concludes the latest report from industry experts GlobalData.

The new publication shows the Russian petrochemicals giant produced 3,340 million barrels of oil equivalent (MMboe) last year, exceeding the company’s 2010 total by 35 MMboe and substantially outweighing competitor levels.

But.

Gazprom’s future supremacy is under threat, however, with the US natural gas boom presenting rivals with the opportunity to capitalize on massively abundant reserves and correspondingly low sell-on prices.