• 13 hours PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 15 hours Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 17 hours Syrian Rebels Relinquish Control Of Major Gas Field
  • 18 hours Schlumberger Warns Of Moderating Investment In North America
  • 19 hours Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 20 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 21 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 23 hours New Video Game Targets Oil Infrastructure
  • 1 day Shell Restarts Bonny Light Exports
  • 1 day Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 1 day Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 2 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 2 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 2 days Rosneft Signs $400M Deal With Kurdistan
  • 2 days Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 3 days Conflicting News Spurs Doubt On Aramco IPO
  • 3 days Exxon Starts Production At New Refinery In Texas
  • 3 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 4 days China To Take 5% Of Rosneft’s Output In New Deal
  • 4 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 4 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 4 days VW Fails To Secure Critical Commodity For EVs
  • 4 days Enbridge Pipeline Expansion Finally Approved
  • 4 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 4 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 5 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 5 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 5 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 5 days Aramco Says No Plans To Shelve IPO

This Small-Town Vote Could Be A Boost For Uranium

This Small-Town Vote Could Be A Boost For Uranium

Another important step for the uranium market took place last week. With a key vote in Japan paving the way for the first restart of nuclear reactors in the country.

That came in the town of Satsumasendai, southwest of Tokyo. An area that hosts the Sendai nuclear power plant--made up of three reactors. All of which have been off-line since the Tohoku earthquake in March 2011.

But Satsumasendai's town council wants to change that. With a vote last week seeing 19 out of 26 council members vote in favour of restarting two reactors here.

Related: Here's A Firesale on $6 Billion in Energy Assets

Despite protests against the Sendai plant, the vote vas decisive--with only four council members voting against a nuclear restart. Three members abstained from the vote.

The decision is a key part of the restart process for the Sendai plant. Which received a positive safety evaluation from the Japanese Nuclear Regulation Authority in early September.

A potential restart here won't be immediate. With further safety checks still being required for the Sendai plant. The move must also go to a vote at the prefecture level (akin to a state government).

Related: LNG-Dependent Japan Tries To Gain Leverage Over Pricing

Assuming the plant clears those hurdles, it appears the two reactors here could come back online in early 2015. Which would be a historic event for both Japan's nuclear sector--and for the uranium market, where Japanese demand is a key driver for prices.

Of course, the lift in demand from just two reactors is likely to be minor. But a restart would be a symbolic victory for uranium--and could start an updraft in sentiment across the sector. Especially if it sets the stage for more reactors coming online next year.

Watch for final details on the Sendai safety checks, as well as the all-important prefecture vote. We'll then see about final timing for the restart here.

Here's to firing them up,
Dave Forest

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




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