• 5 minutes Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 7 minutes China Faces Economic Collapse
  • 11 minutes Oil Production Growth In U.S. Grinds To A Halt
  • 13 minutes Iran in the world market
  • 15 minutes Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 17 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 3 hours Saudis Confirm a Cruise Missile from Iranian Origin
  • 2 hours Let's shut down dissent like The Conversation in Australia
  • 8 hours Trump new National Security Advisor. Trump easily manipulated.
  • 6 hours Is It Time To Invest In Offshore Drillers?
  • 13 hours Aramco Production
  • 4 hours Trump Will Win In 2020 And Beyond..?
  • 9 hours The Spy Money: U.S. Wants To Seize All Money Edward Snowden Makes From New Book
  • 2 hours Democrats and Gun Views
  • 1 day USA Wants Iran War -- Shooty Shooty More
  • 1 day The Belt & Road Initiative: A Wolf in Sheep's Clothing?
  • 6 hours Yawn... Parliament Poised to Force Brexit Delay Until Jan. 31
Alt Text

Should We Rethink Nuclear Power?

Nuclear energy has received a…

Alt Text

U.S. Nuclear Has A Tough Road Ahead

High-profile disasters and a booming…

Alt Text

Can The U.S. Keep Its Nuclear Industry Afloat?

The United States is severely…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Saudis Advance Nuclear Power Plans

Saudi Arabia is in talks with 10 countries that could help it advance its ambitious nuclear power plans should the United States refuse to do that, the Kingdom’s Foreign Minister Adel al-Jubeir said at the Munich Security Conference.

Cooperation with the U.S. in the field of nuclear power is only possible for countries that sign the so-called 123 agreement, which stipulates a clear distinction between using nuclear technology for civil and for military purposes, and binds the signee to utilizing the technology for civil purposes only.

It seems that Saudi Arabia is not all too willing to sign such an agreement and is looking for alternative suppliers of know-how, even though Al-Jubeir made a point to say that Riyadh has no interest in using nuclear technology for military purposes.

The Kingdom’s nuclear plan seeks the construction of 16 nuclear reactors within the next 20-25 years, for a total cost of over US$80 billion. The aim is to reduce the domestic consumption of crude oil, so more of it can be exported. Saudi Arabia currently uses about 25 percent of its oil production domestically, and as the World Nuclear Association recently noted, while production is unlikely to rise substantially, this is not the case with demand for electricity, which is booming.

"The countries that we are talking to are probably roughly 10 countries or so around the world and we have not made a decision yet with regards to which path we will take and which country we will be focusing on more," Al-Jubeir said. However, the minister declined to give a straight answer to the question what the Kingdom would do if the U.S. refuses to support its nuclear program.

"This is really something that's up to our nuclear energy professionals to deal with, but our objective is we want to have the same rights as other countries," he said. India recently became the latest country to sign a 123 agreement with the United States.

By Irina Slav for 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