• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 6 hours Oil prices going down
  • 12 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 12 hours Another WTH? Example of Cheap Renewables
  • 3 days Bullish and bearish outlook for oil
  • 3 days Rolls Royce shedding 4,600 jobs
  • 1 day Trump Hits China With Tariffs On $50 Billion Of Goods
  • 3 hours What If Canada Had Wind and Not Oilsands?
  • 2 days When will oil demand start declining due to EVs?
  • 11 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 4 hours China & India in talks to form anti-OPEC
  • 10 hours The Permian Mystery
  • 5 hours No LNG Pipelines? Let the Trucks Roll In
  • 3 days U.S. Cars Will No Longer Need 55mpg Fuel Efficiency By 2025.
  • 3 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 1 day Gazprom Exports to EU Hit Record
Shale Drillers’ $7 Billion Hedging Error

Shale Drillers’ $7 Billion Hedging Error

The rebound in oil prices…

India Finalizes Nuclear Liability Law

In a move that could expand India’s civilian nuclear power sector by opening up access to foreign suppliers, India’s government has put the finishing touches on its long-awaited legislation for implementing the country’s nuclear liability law.

V Narayanasamy, Minister of State in the Prime Minister’s Office told journalists, “A PMO committee has approved the rules of implementation of the civil nuclear liability law. We will notify the rules within month,” IRNA news agency reported.

In 2010 the Indian Parliament passed “The Civil Liability for Nuclear Damage” legislation, which would allow a NPP operator to sue for damages from a nuclear power plant’s technology supplier in the event that a nuclear incident occurs because of substandard equipment or services provided to the facility.  The suppliers' liability is currently incorporated under Indian law through the operator's “right of recourse” embodied in Article 17 (a, b and c), which, needless to say, has been viewed with extreme disfavor by a significant section of nuclear equipment suppliers.

In the wake of the March meltdown in Fukushima, many in the nuclear power industry are bracing for the reality of increased regulations.

Foreign companies already committed to expanding India’s civilian nuclear power program include France’s Areva, Russia’s Rosatom and U.S. companies GE Hitachi and Westinghouse.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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