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
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
