Russia's greenfields ready and waiting
Russia's greenfields hold abundant cheap reserves. How long can its companies resist the cash flow they offer?
Russia's firms just aren't able to resist the allure of the country's vast untapped greenfield potential. And, in tandem with another bout of weaker oil prices and a robust ruble, a surge in drilling for new fields is a problem for its pledge to keep cutting oil supply. Not that the commitment to the deal with Opec is faltering just yet. Russia's output remained flat for the third month in a row in July—good news as the country welcomed other producer countries to St Petersburg for a meeting of the committee that monitors the cuts. Make no mistake though, if and when the deal falters—and it has been on shakier ground lately—a Russia production ramp-up will be relatively painless due to the n
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
