Don't hold your breath for Russian shale
The Bazhenov deposit holds a lot of oil, but a repeat of the American shale bonanza is by no means imminent
Russia's renewed efforts to stimulate a shale energy revolution have been dismissed by some as a "science project", despite the involvement of Gazprom, the state-controlled behemoth. Gazprom Neft, the company's oil division, unveiled an ambitious drilling programme in late June, after announcing it is ready to move into the next phase of development of unconventional oil reserves in the Bazhenov play in Western Siberia, which is located below conventional sand-stone reservoirs. The company's target is to produce 73m barrels a year (200,000 barrels a day) of light oil from Bazhenov by the end of 2025. But some analysts are less than impressed. They say Gazprom Neft's efforts have been limited
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
