Russia discovered 82 million tons of oil deposits, and Turkey discovered rare earths for thousands of years of global use

According to local time reported on July 4, Rosneft announced the discovery of a huge oil deposit in the Pechora Sea in northern Russia, whose resource storage is equivalent to 82 million tons of oil
.
The head of Rosneft says he has the expertise and technology
to develop oil production in the region.

It is also reported that the Turkish Ministry of Energy and Natural Resources recently released news on its official website that 694 million tons of rare earth elements
were found in Bejlikova in Eskisehir Province, located in the northwest of Turkey.

Rosneft found large quantities of oil

Rosneft reportedly has a controlling stake in 28 offshore licenses in the Arctic, including eight in the Pechola Sea
.
The company discovered the deposit during oil drilling activities in the Medynsko-Varandeysky region
.

The company said in a statement that during the test, there was "free-flowing, lightweight, low-sulfur, low-viscosity petroleum" with a maximum flow of 220 cubic meters
per day.
Rosneft believes the discovery proves "the enormous oil potential of Timan-Pechora" and will also serve as a basis for its continued research and development of
the region.

Before announcing the discovery, Rosneft head Shechin said at an economic forum that Western sanctions against Russia were illegal and would have a "catastrophic" impact on
itself.
Rosneft also said it would continue to push ahead with its "Orient Oil" project in the Arctic, which Chechin called "a project that will bring stability to the oil market.
"

According to China Energy Network, the "Oriental Oil" project is the world's largest new oil project, and the extracted oil has a unique low sulfur content from 0.
01% to 0.
1%, and the quality is better than Brent oil and Middle Eastern crude oil
.
According to Rosneft, by 2033, Vostok will produce up to 115 million tons of oil per year, equivalent to 20 percent
of Russia's total oil production in 2021.

Western experts speculate that under Western sanctions, it is difficult for Russia to have the technology and ability
to increase oil production.
But Mr.
Chechin denied this, saying of the Oil Orient project: "We have all the capacity, knowledge and experience
we need.
In this project, Russia has mastered 98% of the technology
.
”

It is understood that the Arctic is regarded as a strategic reserve of oil and gas resources comparable to the Gulf region, and has always been highly valued
by countries and energy companies.
According to China Energy News, in September 2021, Russian Lukoil and Gazprom subsidiary Rosnekom jointly developed an oil and gas project
in the Nadem-Poole-Taz region of the Yamar Nenets Autonomous Region.
Russia's Arctic oil and gas development strategy is moving northward, reaching areas that humans have never set foot in, and the country's oil and gas producers are competing for exploration licenses
in these most remote and vulnerable areas.

There are also reports that the discovery could present opportunities
for India.
India is keen to develop its economy
with Arctic oil and gas as it diversifies its energy supply routes.
Indian refineries imported about 25 million barrels of oil from Russia in May alone, making Russia India's second-largest oil supplier, and Indian officials said they would continue to buy Russian oil because of discounted prices, which is crucial
to controlling import costs, according to CCTV Finance.

Turkey has discovered rare earths that can meet the world's 1,000-year reserves

It is also reported that the Turkish Ministry of Energy and Natural Resources recently released news on its official website that Beylikova in Eskisehir Province, located in the northwestern part of Turkey, has found 694 million tons of rare earth elements
.
Meijing, a member of the Turkish Federation of Mining and Metal Exporters, said that this reserve can meet the world's demand for 1,000 years and could bring billions of dollars in benefits
to Turkey after processing.

According to Turkey's Minister of Energy and Natural Resources Fatih, the drilling began in 2011 and collected 59,121 samples and compared them
.
Fatih said that after the completion of the relevant research and development work, the construction of industrial production facilities will be quickly started, extending and improving the product supply chain, with the goal of producing high value-added products
.
Fatih stressed that compared with the simple exploitation of resources, the value of products after exploitation and then processing can be ten times or even a hundred times higher, "Our goal is to produce high-tech, high-value-added products from this field and provide them to our people
.
" ”

It is understood that rare earth is the periodic table of lanthanide elements and scandium, yttrium, a total of seventeen kinds of metal elements of the general term, in the industrial, military, aerospace, national defense and other fields of use is extremely wide, with excellent physical characteristics of light and electromagnetism, can be with other materials composed of different performance, a wide variety of new materials, can greatly improve the manufacture of tanks, aircraft, missiles steel, aluminum alloys, magnesium alloys, titanium alloy tactical performance
.