Currently, Russia has the largest reserves of oil and natural gas. The oil and gas industries are integral segments of the national fuel and energy complex and are constantly developing dynamically. In terms of total financial flows and their significant share in Russia's budget revenues, they are leaders compared with other industries. The results of the forecast of the development of the raw material base and oil and gas production levels for the whole XXI century are given. A brief overview of the current state of the resources is given, the problems facing the industries are formulated, and possible ways of solving them are proposed, taking into account the domestic and international interests of the Russian Federation.
