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Sakhalin Output To Fall 44% in 2022
Oil production at Russian island of Sakhalin is expected to fall by 44% this year versus the year prior to around 9mn t, according to Interfax.
- Oil output at Skhalin fell after Exxon Mobil exited operations. Sakhalin 1 nearly stopped oil production by mid-May.
- Sakhalin 1 output recovered in November to 137.8kbpd, compared with 19.kbpd in October.
- Alexei Uspensky, Sakhalin’s minister for economic development, said oil output was 320kbpd (16mn t) in 2021.
- In 2023 - 2025 the output will reach 14mn t/yr which is 57% more than in 2022, he said.
- Japan, as part of the G7, implemented a price cap on Russian crude oil exports on 5 Dec but crude oil imported from the Sakhalin-2 plant will be excluded.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.