Investment in the upstream oil and gas industry in Russia could decline by $15 billion this year as a result of Western sanctions, Rystad Energy has calculated, saying the total for the year could end up around $35 billion. The analytical firm noted that Russian upstream investments stood at $45 billion last year, increasing from $40 billion in 2020.
Before Russia’s invasion of Ukraine, upstream investments in the country were expected to rise to $50 billion in 2022, but sanctions have begun to bite and investment is set to decline substantially…Russian Upstream Oil And Gas Investment Set To Plunge By $15 Billion
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