Lithuania faces oil industry crisis despite proximity to reserves

Lithuania's oil production has fallen from a peak of nearly 600,000 cubic meters in 2001 to just 26,000 cubic meters per year. Onshore fields are depleting, and new projects are blocked — courts have prohibited Minijos nafta from starting extraction in Klaipėda County.

Geologists believe the main potential lies under the Baltic Sea. Nearby, Russia's Lukoil is actively producing oil, and Poland recently discovered a major deposit.

"The Baltic Sea area has the potential to find resources no smaller, and possibly larger, than in the Russian sector," says geologist Jonas Satkūnas.

The industry sees offshore extraction as beneficial: it would boost state revenues and supply feedstock to the Orlen refinery in Mažeikiai. However, Lithuanian authorities remain committed to a 'green' transformation and phasing out fossil fuels.