Russian oilfield services providers face profit squeeze as sanctions and weak market conditions erode margins

Russia’s largest oilfield services (OFS) providers saw profits decline sharply in 2025 as sanctions, weaker drilling activity, and pressure from domestic oil producers squeezed margins across the sector. Three of the so-called “Big Four” OFS companies operating in Russia — Burservis, Schlumberger, and Weatherford — reported significant declines in net profit despite relatively stable or … Continue reading Russian oilfield services providers face profit squeeze as sanctions and weak market conditions erode margins →

Japan resumes Russian oil imports as Hormuz disruption forces supply shift

Japan has resumed crude imports from Russia for the first time in nearly a year, underscoring the pressure on its energy supply chain following disruptions in the Middle East. A tanker carrying Sakhalin Blend crude from Russia’s Sakhalin-2 project arrived at the port of Kikuma in Ehime Prefecture, marking the first shipment to Japan in … Continue reading Japan resumes Russian oil imports as Hormuz disruption forces supply shift →

Russia remains the fourth-largest LNG producer as sanctions delay 2030 output target

Russia ranked as the world’s fourth-largest producer of liquefied natural gas in 2025, even as international sanctions forced the country to push back its ambition to produce 100 million tonnes of LNG annually by the end of the decade. Russian companies produced 33 million tonnes of LNG in 2025, Deputy Prime Minister Alexander Novak said, … Continue reading Russia remains the fourth-largest LNG producer as sanctions delay 2030 output target →

Russia boosts oil and gas reserves in 2025, outpacing crude output but tightening gas replacement

Russia added more recoverable oil and gas reserves in 2025 than it produced, underscoring the resilience of its upstream sector despite sanctions and market constraints continuing to reshape export strategies. Image: Depositphotos Russian oil and gas companies discovered 36 new hydrocarbon fields this year, lifting recoverable reserves by 666 million metric tonnes of crude oil … Continue reading Russia boosts oil and gas reserves in 2025, outpacing crude output but tightening gas replacement →

Gazprom targets 2028 start for Sakhalin-3 gas production

Gazprom expects to begin natural gas production at the Sakhalin-3 project in 2028, said Sakhalin region governor Valery Limarenko. This will mark a significant step in Russia's strategy to boost energy exports to China and strengthen domestic gas supply for the Far East. Image: Depositphotos Valery Limarenko told delegates at the Sakhalin Oil and Gas … Continue reading Gazprom targets 2028 start for Sakhalin-3 gas production →

Russia substituted 90% of the oil and gas technologies

Russian oil companies developed local alternatives for around 90% of previously imported technologies in the oil and gas sector, said Sergei Tsivilev, the Minister of Energy of Russia. Image: RIA Novosti Russian oil companies and service providers managed to replace around 1,800 out of 2,000 technologies in the oil and gas sector. These technologies were … Continue reading Russia substituted 90% of the oil and gas technologies →

Russia increased oil supplies to the US, UK and Turkey

Russia increased oil exports to the United States, United Kingdom and Turkey in 2019, reports RBC news agency. According to Russian Customs Service (FTS), in 2019 Russia exported two times more crude oil to the U.S. and the U.K., while oil exports to Turkey increased four times. In 2019 Russia exported to the U.S. 4.7 … Continue reading Russia increased oil supplies to the US, UK and Turkey →

Gazprom Neft invited Shell to join its Sakhalin offshore projects

Gazprom Neft, a Russian oil company, invited Shell, a global oil and gas major, to join its offshore projects "Triton" and "Neptune" on the Sakhalin island shelf, said Vadim Yakovlev, deputy CEO of Gazprom Neft. He also noted that Shell can join the project for the development of Achimov strata at the Yamburgskoye oil and … Continue reading Gazprom Neft invited Shell to join its Sakhalin offshore projects →

The government plans to reduce Russia’s dependence on oil and gas technologies imports to 43% by the end of 2020

The Russian government will invest over 30 billion rubles (approx. 500 million U.S. dollars) in the development of oil and gas technologies and equipment until 2024, said Denis Manturov, Minister of Industry and Trade of Russia. The funds will be spent on subsidising companies' R&D programmes, developing new technologies for the LNG industry, manufacturing of … Continue reading The government plans to reduce Russia’s dependence on oil and gas technologies imports to 43% by the end of 2020 →

Gazprom considers new export gas pipeline to China through Mongolia

On 5 December 2019, Alexey Miller, CEO of Gazprom, and Ölziisaikhany Enkhtüvshin, deputy Prime Minister of Mongolia, signed a Memorandum of Understanding for joint assessment of the project viability of the new gas pipeline to China through Mongolia, reports Gazprom. Although running a longer distance, the trans-Mongolian gas pipeline would be less technically challenging compared … Continue reading Gazprom considers new export gas pipeline to China through Mongolia →