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Russia and Caspian upstream: 2021 in review

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27 January 2022

Russia and Caspian upstream: 2021 in review

Report summary

2021 was a year of recovery for the upstream sector in Russia and Caspian, after the shocks of 2020. Regional liquids production came ever closer to pre-pandemic levels, as OPEC+ oil cuts ease, while Russian gas output reached a record high. The two biggest global discoveries of 2021, coupled with multi-billion-dollar M&A deals, kept Russia and Azerbaijan in the limelight. Meanwhile, the region tried to keep pace with global energy transition momentum. Both Russia and Kazakhstan revealed their long-term scenarios to achieve net zero. Powered by our Lens platform, we assess the headline stories of 2021.

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    Russia And Caspian Upstream 2021 In Review.pdf

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