• 3 minutes Natural gas is crushing wind and solar power
  • 6 minutes OPEC and Russia could discuss emergency cuts
  • 8 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 11 minutes Question: Why are oil futures so low through 2020?
  • 13 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 24 mins Oil and gas producers fire back at Democratic presidential candidates.
  • 6 hours So the west is winning, is it? Only if you’re a delusional Trump toady, Mr Pompeo, by Simon Tisdall
  • 10 hours Peak Shale Will Send Oil Prices Sky High
  • 1 hour "Criticism of migration will become a criminal offense.  And media outlets that give room to criticism of migration, can be shut down." - EU Official to the Media.
  • 3 hours Fight with American ignorance, Part 1: US is a Republic, it is not a Democracy
  • 11 hours Charts of COVID-19 Fatality Rate by Age and Sex
  • 4 hours CDC covid19 coverup?
  • 1 day “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 19 hours Democrats Plan "B" Bloomberg Implodes. Plan "C" = John Kerry ?
  • 1 day Who decides the Oil costs?
Oil Prices Fall As OPEC+ Refuses To Act

Oil Prices Fall As OPEC+ Refuses To Act

Oil prices fell on Friday…

Oil Falls Below $50 On Demand Fears

Oil Falls Below $50 On Demand Fears

Oil prices continue to fall…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Exxon & Rosneft Plan to Drill for Oil in Old Soviet Nuclear Dumping Ground

Exxon & Rosneft Plan to Drill for Oil in Old Soviet Nuclear Dumping Ground

It has been well documented that oil majors from around the world are looking at oil exploration in the Arctic, where they believe that some of the largest untapped fields in the world still lie. Environmentalists have been fighting efforts to start exploring for oil, fearing that any serious oil spill could mean the destruction of one of the last pristine wildernesses on the planet.

In the Kara Sea, where Exxon Mobil and Rosneft are planning to drill a region which is estimated to hold enough oil to supply the world for five years, environmentalists have a new reason to fear for the environment; nuclear radiation.

The Kara Sea is so remote that the Soviet Union used it as a dumping ground for radioactive material for more than 25 years. The two oil companies have avoided calls for the nuclear waste, estimated to consist of over 17,000 barrels of radioactive waste, worn-out reactors, and even an old nuclear submarine, to be cleared up before any exploration takes place.

Scientists from the Norwegian Radiation Protection Authority (NRPA) will soon present the results from their first survey in the area for 18 years, to determine whether or not the radiation is stable or increasing.

Rosneft released a statement to try and reassure the public that “all ecological and nature protection norms are being followed at the same time,” using “the the best world practices available.”

The most dangerous item down on the sea floor in that area is the K-27 nuclear submarine, which was dumped their by the Soviet navy in 1981. The NRPA said that any significant corrosion could damage the ships reactor and cause an environmental disaster.

RELATED: Big Oil Funding U.S. Politics

Per Strand, a director at the NRPA, warned that “there might be a hypothetical possibility that the spent nuclear fuel in the reactor in extreme situations can cause an uncontrolled chain reaction, which can lead to heat and radioactivity releases.”

Igor Kudrik, an ecologist from Norwegian campaign group Bellona, suggests that “oil companies should make sure that the area is swiped clean of nuclear waste before they start any oil exploration activity.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage


Leave a comment

Leave a comment

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