• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 6 hours Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 1 hour Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 6 hours Instagram Now Banning Photos Of People At Gun Ranges, Claiming They Promote "Violence"
  • 2 hours Let's shut down dissent like The Conversation in Australia
  • 2 hours Pepe Escobar: “How The Houthis Overturned The Chessboard”
  • 12 hours Famous Manufacturer of Anti-Ethanol Additives Proves Ethanol's Safety and Benefits
  • 18 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 1 day Hong Kong protesters appeal to Trump for support.
  • 1 day Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 14 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 9 hours US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
  • 14 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

China Could Become Global Leader In Nuclear Tech

China continues to rack up successes in exporting its nuclear power technologies as it seeks to become a leader on the global stage.

Chinese President Xi Jingping wrapped up a state visit to the United Kingdom at the end of October, in which he inked a deal with the UK to help build nuclear reactors in England. The deal will see the China General Nuclear Power Corporation acquire a 33.5 percent stake in the Hinkley Point nuclear power plant. The power plant could be the most expensive reactor ever built and although it will be constructed years behind schedule, it could provide 7 percent of electricity for the UK. Related: Why Europe Will Prove Key To Future U.S. LNG Exports

The deal will also allow China to build a few other reactors in the UK, which are likely to be more important to China’s strategic objectives. Aside from any profits that China’s state-owned nuclear company hopes to realize from the projects, one of the key goals is to showcase Chinese-made nuclear technology. China wants to use its reactor design for the projects, which could give it a huge seal of approval when successfully completed. Related: Sweeping Reform Could Trigger A NatGas Boom In This Emerging Market

Even before that project has received a final investment decision – expected by the end of the year – China is shopping its nuclear technology around the world. Chinese media reported on November 17 that China reached an agreement with Argentina that would lead to the construction of a nuclear reactor in the South American nation. The deal could lead to $4.7 billion in nuclear technology exports for China. A second state-owned firm, China National Nuclear Corp. (a joint venture partner in the UK projects) will build the reactor, Argentina’s fourth. The design is similar to the Canada Deuterium Uranium (often known as Candu) technology. Related: UK Banking On NatGas And Nuclear Over Renewables

But China and Argentina are mulling a second reactor, and that one would use a Chinese design called Hualong-1. China hopes this design can eventually compete globally with American reactor designs. For now, nuclear reactor designs are dominated by companies like America’s Westinghouse, France’s Areva and EDF, and the American-Japanese alliance GE-Hitachi. But while nuclear reactor construction has almost dried up entirely in the West, China has plans to build 110 nuclear power plants over the next 15 years. That could allow it to transform into a nuclear technology exporter, and these early deals are meant to pave the way towards that dream.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play