Russia provided 10 percent of the world's energy resources in 2014 - BP

Oil company British Petroleum (BP) said in its Statistical Review of World Energy that Russia provided 10 percent of the world's energy resources in 2014. According to BP, Russia is behind the United States in terms of fossil fuel production. Russia accounted for 12.7 percent of world oil production, 16.7 percent of gas production and 4.3 percent of coal production.

BP operates in 80 countries with the largest BP America division in the United States. In Russia, BP owns 19.75 percent of Rosneft, the world's largest publicly traded oil and gas company in terms of hydrocarbon reserves. The first Statistical Review of World Energy was published by BP in 1951 and has been considered an industry reference ever since. The latest report showed that Russian oil and gas reserves rose the most in the BP standings. Russia has added as much as 10 billion barrels of reserves, enough to supply the world for more than 100 days.

According to the BP Statistical Review of World Energy, oil production in the United States rose to record volumes last year, gaining 1.6 million barrels per day. Gas production has also risen, allowing America to overtake Russia as a hydrocarbon producer. Russia has long been a global leader in oil and gas production, but the US shale revolution has led to a sharp jump in energy production in North America, allowing the United States to overtake Russia and Saudi Arabia as the world's largest oil producers for the first time since 1975, according to with BP information.

Consumption growth in some of China's most energy-intensive sectors, such as metallurgy, processing and chemical industries, which flourished during China's rapid industrialization, all but collapsed in 2014. In the United States, the boom in oil and gas production has begun to profoundly change the economy. Inexpensive fuel has allowed the United States to return as a country that produced about 90 percent of its energy use last year, when imports accounted for 1 percent of GDP, according to BP.