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Russia Regional Production Shifting from West to East

OIL

The shift of Russia’s oil output to East Siberia is likely to continue as regional production changes and demand shifts from Europe to Asia according to Bloomberg.

  • About 85% of Russian output is from West Siberia, Timan-Pechora and the Volga Urals with limited infrastructure to transport this oil to eastern export facilities
  • East Siberian production increased by 700kbpd over the past decade. The Vostok Oil Project is set to add another 1.5mbpd by 2030 while declining mature fields in West Siberia could result in a 2mbpd drop.
  • Oil output in western regions might drop to 70% by 2030

Source: Bloomberg

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