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Are Oil Stocks Close To A Breakout?

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Russia Says Iran’s Bushehr Nuclear Power Plant to Open Soon

Iran’s first nuclear power plant at Busheher, constructed by Russian specialists, is about to open in the near future.

During an interview with Rossiya 24 television, Russian Federation Foreign Ministry spokesman Aleksandr Lukashevich said, "As far as we know, yes indeed, the launch is planned for the very near future. As regards the specific date, I cannot yet name it to you precisely, but I would like to draw your attention to the fact that Deputy Foreign Minister Aleksei Borodavkin, talking to journalists, I believe, described the situation by saying that we would very much like to receive a more precise expression of preference from our Iranian colleagues: When is it convenient to them for the facility to be launched. According to our information, in technological terms everything is going to plan, and there have been no setbacks or breakdowns. You should probably ask Rosatom (the Russian state nuclear power corporation) and our relevant ministries for more precise information. If any information on this becomes available, we shall gladly share it."

While many in the West harbor suspicions that the Bushehr facility is in fact a cloak for a covert Iranian effort to develop nuclear weapons, Iran has consistently denied the charge, and Iranian President Mahmoud Ahmadinejad has stated that Iran's current engagement with the International Atomic Energy Agency should consider a Russian initiative designed to gradually resolve all outstanding disputes over Iran's civilian nuclear energy program.

By. Charles Kennedy, Deputy Editor OilPrice.com



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