Rail wagons for transporting oil stand in sidings at the RN-Tuapsinsky refinery operated by Rosneft in 2020. Rosneft, Russia’s biggest oil company, has started holding meetings with foreign contractors and suppliers for a massive Vostok Oil project. Photo: Bloomberg
Opinion
Opinion
The View
The China factor: why Russia is still betting big on oil
- At a time when much of the West is planning an exit from fossil fuels, Russia is proceeding with an enormous oil project
- One key reason is China, which doesn’t see a swift energy transition as a realistic path and could drive global oil demand in the medium term
Rail wagons for transporting oil stand in sidings at the RN-Tuapsinsky refinery operated by Rosneft in 2020. Rosneft, Russia’s biggest oil company, has started holding meetings with foreign contractors and suppliers for a massive Vostok Oil project. Photo: Bloomberg
