Russia working on MASSIVE oil project to boost country’s position in Arctic

Russia’s energy giant

Russia’s energy giant Rosneft is developing a multibillion-dollar Vostok Oil project which is expected to bolster the country’s presence in the Arctic region and to boost the economy.

Rosneft’s CEO Igor Sechin, who has met with President Vladimir Putin this week, has pledged that Vostok Oil will deliver up to 30 million tons of oil via the Northern Sea Route by 2024.

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