Oil and Gas:
Armenia has no proven reserves of oil or natural gas and currently imports nearly all gas it from Russia.
But Armenia appears to have oil or gas potential in areas that have received limited study as well as areas that have received no study.
On December 2017, a newly established company (Armenian Oil and Gas) controlled by Russian-Armenian billionaire Samvel Karapetian has asked for a government permission to explore for oil and gas in northern Armenia. The different basins have never been subject to systematic exploration using modern technology and equipment and that keeps the result unclear.
Armenia's energy sector has made significant progress in the last two decades. The sector has moved from severe crisis characterized by crippling supply shortages and near financial bankruptcy of the sector to stability more characteristic of developed countries than emerging markets.
The use and development of renewable energy has been an important part of the transition from crisis to stability and will remain important in the years to come as demand grows and ageing thermal plants are retired. The country is on the right track by adopting widely the renewable energy.
Nuclear Power Plant:
The Armenian Nuclear Power Plant (ANPP), commonly known as the Metsamor Nuclear Power Plant, is the only nuclear power plant in the South Caucasus located 36 kilometers west of Yerevan. The plant supplied approximately 40 percent of Armenia's electricity in 2015.
Rosatom plans to carry out work to extend the operating period of unit 2 of the Metsamor nuclear power plant in Armenia in 2018 and 2019, but the future of the plant remains unclear due to massive pressure from INGOs to shut down as soon as possible.
The mineral industry is one of the main sectors of the Armenian economy and in 2017 accounted for 30.1% of its exports.
According to the Armenian Development Agency, Armenia has more than 670 mines of construction and aggregate minerals, including 30 base metal and precious metal mines.
In terms of value, cut diamond was the country's leading mineral export followed by copper and ores and slags, of which molybdenum ores and concentrates had the most value. The country reported significant exports of iron and steel, which were either transshipments or scrap as the county had no domestic steel industry.