Rosneft has commenced oil shipments from its Vostok Oil project in the Arctic, with Russian President Vladimir Putin overseeing the launch ceremony via video link. The project, with an estimated resource base of 7 billion tons of oil, has seen investments totaling $46.53 billion. Rosneft anticipates shipping 30 million tons of oil to customers by the second half of 2027, with production increasing to 50 million tons by 2030, and an ultimate potential of 100 million tons per year. The project includes a 790-kilometer oil pipeline and port facilities capable of accommodating 120,000-ton Arctic tankers, with all equipment sourced from Russian domestic manufacturers.