Rosneft's pipedream
Not content with its oil eminence, the state-controlled oil giant has Gazprom in its sights
It has overtaken Novatek to become Russia's second-biggest natural gas producer. Now Rosneft has revealed its bigger ambition: beating Gazprom. Details are hazy, but the goal offers a measure of the state-controlled firm's new confidence. Igor Sechin, Rosneft's chief executive, boasted of the plan in a meeting at the Kremlin with President Vladimir Putin on 23 January. Rosneft claimed the second spot in gas output for the first time last year after recording a 7% jump in output to 67bn cubic meters. Novatek extracted 66.2bn cm last year, according to preliminary data. By 2020, Rosneft is forecasting gas production of 100bn cm per year, which implies a compound annual growth rate of 10.5%. Th
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
