Insight
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.
Table of contents
- Executive summary
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Our key insights of 2021
- Russia
- Caspian
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