Russian cadets take part in the launch ceremony of the nuclear-powered icebreaker ‘Yakutia’
Vostok Oil at risk of freezing over
The Russian megaproject is facing delays and strategic headwinds that could see it becoming stranded in the Arctic ice
The Vostok Oil project, once heralded as Russia’s flagship Arctic energy enterprise, is facing delays, with its start date having been pushed back to 2026 from 2024. The $100b development is struggling with logistical problems, operational challenges, limited financial commitments and the strategic impact of Western sanctions. According to Ronald Smith, a founding partner at Emerging Markets Oil & Gas Consulting Partners, the delays are operational, although Russia has shown resilience to sanctions so far and could continue to do so. Restrictions on Russia’s access to Western technology and services are forcing it to develop its own Arctic-capable technologies, potentially fostering grea
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
