Russia Begins First Oil Flow Through Vostok Oil Pipeline

Key facts

• Russian President Vladimir Putin said oil has begun flowing through a newly commissioned main pipeline within the Vostok Oil project, developed by Rosneft in Russia's Krasnoyarsk region.
• The pipeline transports crude to a terminal in the Sever Bay area, where oil can be loaded onto tankers for transport to international markets.
• Putin said the start of oil flowing through the pipeline marks an important step in the development of the Vostok Oil project, which aims to develop vast oil resources in Russia's northern regions.
• Moscow announced the Vostok Oil project is approaching a new stage, as Russia prepares to export its first oil shipments.
• Putin had previously announced that the project's first cargo would be loaded soon, and reports indicate the venture represents one of Russia's most prominent new oil developments as Moscow seeks to maintain production levels and expand its access to Asian markets.