Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions. The post Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions appeared first on Energy Voice.

The Kyiv Independent

Kyiv

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Bloomberg: Russia's oil drilling continues to break records despite Western sanctions

(Bloomberg) — Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions.

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Leon Cooperman

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Canada

Russia's Oil Drilling Boom Proves Moscow's Resilience to Western Sanctions

Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions.

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Russia’s Oil Drilling Boom Proves Moscow’s Resilience to Western Sanctions

Russia is on pace for its second year in a row of record oil drilling.AP
Russia is on pace for its second-consecutive year of record oil drilling in 2023. For the first 11 months of last year, Russia drilled 28,100 kilometers and should surpass 30,000 kilometers for the full year. That should top 2022's post-Soviet record for total drilling depth, according to Bloomberg. Russia is on pace to notch its second consecutive year of record oil drilli…

Business Insider

Russia is on pace for record oil drilling for the 2nd year in a row despite the West's sanctions

Russia's oil drilling industry is on track to set record highs for the second year in a row, raising doubts on the ability of Western sanctions to curtail profits from the lucrative sector, Bloomberg reported on Jan. 10.Russian oil drilling was likely to surpass 30,000 kilometers by the end of 2023, reaching a total not seen since the Soviet Union. Domestic oil production is one of the key pillars of Russia's economy, helping funnel money into t…

Energy Voice

United Kingdom

Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions

Drilling at Russia’s oil production wells likely beat a post-Soviet record in 2023, according to industry data Bloomberg has seen—evidence that the Western sanctions haven’t affected drilling rates much, especially at brownfields.   Russia is estimated to have drilled oil production wells with a total depth of 28,100 kilometers (17,460 miles) between January and November 2023—on course for a second consecutive year that would beat the post-Sovie…

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Oil Drilling Is Booming in Russia Despite Western Sanctions

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Oil and Gas Sector

Russia, Moscow Oblast

Russia

Dmitrovsky District

Moscow Oblast

Russia drilled oil production wells with a total depth of 28,100 kilometers in the first 11 months of 2023. That is on track to beat last year's post-Soviet record. The increase comes despite Western countries pressure on the country's energy industry. The sector has been the target of sanctions ranging from import bans and price caps.

Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions

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