• 1 hour Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 3 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 4 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 hours VW Fails To Secure Critical Commodity For EVs
  • 6 hours Enbridge Pipeline Expansion Finally Approved
  • 7 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 8 hours OPEC Oil Deal Compliance Falls To 86%
  • 23 hours U.S. Oil Production To Increase in November As Rig Count Falls
  • 1 day Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 1 day Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 1 day EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 1 day Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 1 day Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 4 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 4 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 4 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 5 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 5 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 5 days India Needs Help To Boost Oil Production
  • 5 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 5 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 5 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 5 days District Judge Rules Dakota Access Can Continue Operating
  • 6 days Surprise Oil Inventory Build Shocks Markets
  • 6 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 6 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 6 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 6 days Oil M&A Deals Set To Rise
  • 6 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 7 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
This Major Political Shift Could Rock Copper Markets

This Major Political Shift Could Rock Copper Markets

Chile’s upcoming Presidential elections could…

Richard Branson To Invest In Elon Musk’s Hyperloop One

Richard Branson To Invest In Elon Musk’s Hyperloop One

Britain’s Virgin Group boss has…

U.S. Pays Russia $7.2 billion for Separating Uranium from Warheads

Under terms of the U.S.-Russian two-decade old “megatons-to-megawatts” agreement, the United States Enrichment Corporation (USEC) has reimbursed the Russian Federation more than $7.2 billion for its work in separating fissile uranium for use in civilian nuclear power plants from Soviet-era nuclear warheads.

The figure was included in a statement released by USEC the payment is for the Russian separative work units (SWU) component of extracting low enriched uranium from dismantled nuclear warheads delivered to the USEC since 1995.

OJSC Techsnabexport (Tenex) is the Russian Federation government's intermediary for the agreement.  According to terms of the contract, which expires in two years, OJSC uses natural uranium in an admixture to dilute the weapons-grade uranium.

According to Russia’s Agentstvo Voyennykh Novostei news agency, OJSC Techsnabexport could eventually receive up to $17 billion for the entire contract, of which over $8 billion of would be for the SWU operation.

USEC said that the SWU operation has eliminated 425 metric tons of highly enriched uranium, the equivalent of 17,000 nuclear warheads, by converting it into fuel for commercial nuclear power plants, with the nuclear fuel produced up to now capable of generating enough electricity to meet the demand from U.S. households for nearly five years.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News