| Summary: | A number of questions concerning origin and production of oil have been considered in the paper. Two alternative approaches to the genesis of oil are scrutinised: the biogenic origin and the abiogenic one; arguments of supporters of the former point of view and its opposite are given, and the authors' standpoint as for the question considered is worded. In this research, they proceeded from the following alternative hypotheses: firstly, oil has the biogenic origin; secondly, oil has the abiogenic origin and it is generated continuously in the process of cyclic endogenic activity in the depths of the Earth. If the second approach is valid, this means the reserves of oil are virtually inexhaustible. The factors confirming abiogenic origin of oil in Kola geological block of the Arctic zone been examined. Some prospects and difficulties of oil extraction are estimated with environmental problems of oil production in the Arctic emphasised. hydrocarbon raw materials; origin of solid oil; abiogenic origin of oil; oil production; the Arctic zone of the Russian Federation.
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