Rosneft strikes again in the Arctic
The Russian oil firm has added more reserves to its ambitious Vostok Oil project
Rosneft chalked up another oil discovery in the Russian Arctic in late July, adding volumes to a megaproject it hopes could produce up to 2.3mn bl/d of oil within a decade. It found over 20mn t (147mn bl) of crude after drilling at the border between Russia’s Yamalo-Nenets and Krasnoyarsk regions. The field, named Novoogennoye, also holds some 1bn m³ of gas. The state-controlled producer is searching the northernmost reaches of Russia’s prolific Western Siberian basin to further build the resource base underpinning the Vostok Oil project. It already comprises fields with some 5bn t (37bn bl) of crude, according to Rosneft, although it is unclear how much of this volume is recoverable. Big pl

Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand