Vostok Oil Loads First Crude on Arctic Tanker via Northern Sea Route

Russia's Vostok Oil project has taken a major step forward as it loaded its first crude shipment via the Northern Sea Route. The cargo was loaded onto the high-ice-class tanker Valentin Pikul at the newly built terminal of Sever Bay, which is reportedly the northernmost port in the world.

The development marks an expansion of Russia's presence in the Arctic and sets the stage for future growth of its oil production. Rosneft PJSC CEO Igor Sechin attended the opening ceremony at the port, broadcast by Russian state TV.