The first oil from the Vostok Oil project has been extracted, Russian President Vladimir Putin announced on Tuesday. The project is expected to deliver around 30 million tons of oil in the second half of the year, with potential to reach 100 million tons annually under favorable market conditions, according to Igor Sechin, head of Rosneft. The oil will be supplied to both Western consumers and Asia-Pacific countries, Energy Minister Alexander Novak said. Vostok Oil's resource base is estimated at 7 billion tons of low-sulfur oil, one of the world's largest deposits, according to Putin.
September 7, 2026 1.3K 7
