Russia Launches Commercial Oil Exports from Vostok Oil Project

Russia has kicked off commercial oil exports from its Vostok Oil project, a major development in the Arctic region. State-controlled Rosneft began loading crude onto specialized ice-class tankers at its Bukhta Sever terminal on the Taimyr Peninsula in September.

The export volumes are currently below expectations, with industry sources estimating around 150,000 barrels per day (bpd) for this year. This is largely supplied from Rosneft's mature Vankor fields.

However, as development of the northern greenfield assets advances, particularly the Payakha field, Rosneft plans to increase exports to around 600,000 bpd by the second half of 2027 and reach 1 million bpd by 2030.