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Russia Enjoys Oil Boom in Arctic Circle Print E-mail
by Tom McGregor    Sun, Dec 22, 2013, 09:32 PM

President Barack Obama has forbidden US oil & gas companies from drilling in Alaska's Arctic National Park. Hence, Russian drillers can bask in the Arctic oil boom.

The Moscow Times reports that, "Russia's first Arctic offshore field Prirazlomnoye, where Greenpeace activists were arrested in September after a high seas clash with Russian authorities, has started production of oil, energy company Gazprom said Friday."

Alexei Miller, Gazprom's chief executive officer, is quoted as saying that, "We became the pioneers of Russia's Arctic development."

According to the Moscow Times, "The project is almost a decade behind its initial schedule and is one of the most controversial energy projects, seen as dangerous for the environment by the Greens, who say that the drilling and storage platform is three decades old."

Gazprom is pumping close to 10.6 million barrels of oil per day from the Arctic.

To read the entire article from the Moscow Times, link here:

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