But the 25 richest Russians listed by Forbes have lost a combined $230 billion – a possible opportunity for the Kremlin to bolster conservative business allies.
Production dropped this year after reaching a post-Soviet high in October. On Monday, Putin's newly convened cabinet made the issue its first order of business.
The intense state scrutiny of private oil firm TNK-BP, now facing an environmental review, echoes Putin-era takeovers. The president-elect is reputedly more liberal.