Lithuania's Oil Industry Struggles as Government Favors Green Energy

The Lithuanian oil industry is on the verge of collapse, with the country's last remaining oil fields struggling to stay operational. The company Minijos nafta has the right to work at five fields, but production has already stopped at two due to exhausted reserves. Geologist Jonas Satkunas claims that Lithuania's main potential for oil resources lies under the Baltic Sea, where Russian and Polish companies have been operating.

According to Ignas Vaicelunas, head of Minijos nafta, if Lithuania were to explore its offshore oil deposits, it could receive volumes equivalent to a quarter of its own consumption. However, the Ministry of Environment in Lithuania is focused on 'green' transformation and renewable energy development, rather than pursuing oil production.

Former geologist Jonas Satkunas has expressed concern that Russia is profiting from Lithuanian oil resources without Lithuania's involvement, raising questions about potential leakage or interconnection between fields. The discovery of a large oil deposit in the Polish Baltic Sea last year has also sparked debate about Lithuania's missed opportunities.

Representatives of the oil industry believe it would be more profitable for Lithuania to produce its own oil and supply it to the Orlen plant in Mazheikiai, but this proposal is not being considered by the government.