Tag: russia

Putin approves Novatek’s acquisition of TotalEnergies’ stake in Arctic LNG 2

Russian President Vladimir Putin has authorised the acquisition of TotalEnergies' 10% stake in the Arctic LNG 2 project by Nordline Ltd., a wholly owned subsidiary of Novatek, paving the way for the Russian gas producer to increase its ownership in the sanctions-hit development to 70%. The approval was granted under a presidential decree issued in … Continue reading Putin approves Novatek’s acquisition of TotalEnergies’ stake in Arctic LNG 2 →

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 →

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 →