• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 7 hours IMO 2020 could create fierce competition for scarce water resources
  • 2 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 20 hours India After Elections: Economy And Hindu Are The First Modi’s Challenges
  • 17 hours IMO2020 To scrub or not to scrub
  • 7 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 13 hours Theresa May to Step Down
  • 6 hours Total nonsense in climate debate
  • 21 hours Old - New Kim: Nuclear Negotiations With U. S. Will Never Resume Unless Washington Changes Its Position
  • 17 hours Devastating Sanctions: Iran and Venezuela hurting
  • 9 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 227 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 19 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 15 hours Level-Headed Analysis of the Future of U.S. Shale Oil Industry
John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Trending Discussions

China National Nuclear Power Co. Plans $2.6B IPO

China National Nuclear Corp. (CNNC), a subsidiary of China National Nuclear Power Co., (CNNP) one of China’s three state-owned nuclear power developers, is planning its first IPO, intended to raise at least $2.6 billion.

CNNP's Shanghai stock market IPO listing could be the biggest on the mainland since the Agricultural Bank of China debuted in July, 2010. CNNP currently has 12 nuclear power projects, including operating nuclear power plants in Zhejiang and Jiangsu and others under construction or being planned in Fujian, Hainan, Liaoning, Zhejiang, Hunan and Henan. CNNP intends to use the money raised by the IPO to fund the construction of four plants containing a total of 10 reactors in Fuqing, Fujian, Sanmen, Zhejiang, Changjiang, Hainan and Tianwan, Jiangsu.

In its February, 2014 “China Analysis,” the U.S. Energy Information Agency noted, “At the end of 2013, China had 31 reactors with almost 35 GW of additional capacity under construction, almost half of the global nuclear power capacity being built. These plants are slated to become operational by 2017, more than tripling China's current capacity.”

Three years ago, in the wake of Japan's Fukushima Daiichi nuclear power plant accident, China suspended government approvals for new nuclear plants until safety reviews of all facilities were completed and the state council had approved a new safety framework. Construction resumed in October 2012.

CNNP is seeking to broaden its expertise base; in October 2013, Palo Alto-based Electric Power Research Institute (EPRI) announced that CNNP had joined two of its nuclear-related research programs. CNNP President Chen Hua remarked, “CNNP’s participation in EPRI will enhance our mutual understanding, and I’m convinced that CNNP will expand its engagement with EPRI soon to become a full member in all of its nuclear research programs.”

There is however, a potential question hanging over CNNP’s IPO; according to the World Nuclear Association CNNP’s parent company, CNNC, "combines military with civilian production, taking nuclear industry as the basis while developing nuclear power and promoting a diversified economy." CNNC’s “military production” and its relationship to CNNP makes CNNP’s nuclear power generation capacity potentially “dual use” technology, raising potential questions under the Non-Proliferation Treaty, which China has signed and ratified.

Chinese President Xi Jinping has proven his commitment to non-proliferation. When North Korean leader Kim Jong Un conducted his country's third nuclear test in 2013, Beijing temporarily ended top-level official visits with Pyongyang and implemented the UN sanctions on North Korea. In such a context, more transparency on the exact nature of the relationship between CNNC and CNNP would be useful, but in any case, given China’s projected electricity needs, the CNNP IPO looks headed for success.

By. John C.K. Daly of Oilprice.com




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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