Russia embarks on petchems push
Moscow sets ambitious targets to capitalise on feedstock abundance
Russia has lagged behind other oil and gas producers in developing its petrochemical industry, despite its formidable oil and gas resources, commanding only a 1pc share of global petchems supply. This is set to change, though, as Russia's largest firms prepare to launch a raft of new projects over the next few years, aiming to capitalise on the sector's projected rapid demand growth. Eager to provide the economy with a greater downstream hedge against volatile crude and gas prices, Moscow is also planning new measures to spur development, with a target of doubling production to around 20mn t/yr by 2030. The centre piece in Russia's petchems drive is ZapSibNefteKhim, a $9.5bn project slated t
Also in this section
9 January 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
