Russia Begins Oil Exports From Its Giant Vostok Arctic Project

AI Summary

Russia has commenced commercial crude oil exports from Rosneft’s Vostok Oil project in the Arctic despite prior sanctions and delays. Ice-class tankers have transported around 250,000 metric tons of crude from the Bukhta Sever terminal with shipments going through Murmansk and the Northern Sea Route towards Asia.

Russia has begun commercial crude exports from Rosneft’s Vostok Oil project, putting barrels on the water from its new Arctic terminal after years of sanctions, investor exits, and construction delays. Three ice-class tankers loaded about 250,000 metric tons of crude from the Bukhta Sever terminal on the Taimyr Peninsula in September. Two carried the oil to Murmansk for ship-to-ship transfer. A third headed for Asia through the Northern Sea Route. A fourth tanker is waiting to load. Industry sources expect exports to average about 150,000…