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
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
