Russia shale formation a giant
Russia currently produces over 15 percent of all oil productions in the world, and several shale reserves should ensure that number won’t change. The Bazhenov formation is the source for almost one-half of the country’s income, and is the largest shale oil formation in the world. The Russian government estimates that the reserves could potentially produce between 180 and 360 billion barrels of oil. In comparison, the Bakken-Three Forks formation could potentially produce 7.4 billion barrels of oil. Read more about Russian oil production from the Bismarck Tribune.