Rosneft Ships First Crude From $157 Billion Vostok Oil Project
Rosneft has shipped the first crude oil cargo from the Vostok Oil project in Eastern Siberia, despite sanctions targeting Russia’s energy industry and the exit of Western business partners. At peak capacity, the project is expected to produce between 50 and 100 million tons of crude annually. The Vo
Source: OilPrice.com
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DW NOTE
Rosneft begins extraction from a $157 billion Arctic project while the Strait of Hormuz sits closed and Brent trades at $96. The timing is convenient — Russia now has a bargaining chip that produces revenue whether or not it holds Donbas villages. Arctic crude flows north to Asia via the Northern Sea Route, bypassing every chokepoint the West can close.