 |
Louisiana Light • 4 days | 82.73 | -1.03 | -1.23% | ||
|
Bonny Light • 22 hours | 83.51 | -0.60 | -0.71% | ||
|
Opec Basket • 4 days | 84.29 | -0.01 | -0.01% | ||
|
Mars US • 192 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 13 mins | 2.514 | +0.003 | +0.14% |
|
Bonny Light • 22 hours | 83.51 | -0.60 | -0.71% | ||
|
Girassol • 22 hours | 84.58 | -0.49 | -0.58% | ||
|
Opec Basket • 4 days | 84.29 | -0.01 | -0.01% |
|
Peace Sour • 21 hours | 71.46 | -1.00 | -1.38% | ||
|
Light Sour Blend • 21 hours | 74.51 | -1.00 | -1.32% | ||
|
Syncrude Sweet Premium • 21 hours | 81.46 | -1.00 | -1.21% | ||
|
Central Alberta • 21 hours | 71.86 | -1.00 | -1.37% |
|
Eagle Ford • 4 days | 74.74 | -1.00 | -1.32% | ||
|
Oklahoma Sweet • 4 days | 74.75 | -1.00 | -1.32% | ||
|
Kansas Common • 5 days | 69.50 | +0.25 | +0.36% | ||
|
Buena Vista • 5 days | 83.77 | +0.27 | +0.32% |
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Saudi Arabia Weighs China Bid To Build Nuclear Power Plant
Saudi Arabia is considering a bid from a Chinese state firm to build a nuclear power plant, which could give the Kingdom leverage in possible talks for U.S. assistance for establishing a civil nuclear industry, The Wall Street Journal reported on Friday, quoting Saudi officials with knowledge of the matter.
Saudi Arabia has been actively seeking help with expertise in nuclear energy to develop its own civil nuclear generation capacity. The U.S. has been an obvious first choice among potential partners, but Washington has taken a cautious approach. The United States has made it clear that it would only help Riyadh develop nuclear generation capabilities if any agreement includes preventing the enrichment of uranium or reprocessing of plutonium from the reactors, to prevent the weaponization of nuclear power.
Now Saudi Arabia is evaluating a bid from China National Nuclear Corporation (CNNC) to build a nuclear power plant in an Eastern Province of Saudi Arabia, close to the border with Qatar and the United Arab Emirates (UAE), the Saudi officials told the Journal.
Those officials also admitted to the WSJ that the idea to consider the Chinese bid was an attempt to gain leverage in talks with the U.S. about its help for Saudi Arabia’s civil nuclear program, and potentially extract some compromise on the non-proliferation issues.
The Middle East is not known for its nuclear power generation capabilities. With all its oil wealth, the region has traditionally relied on fossil fuels to meet its electricity needs.
In 2020, the first nuclear power plant in the Arab world began operating in the UAE. Plans are to expand it to a facility that would meet a quarter of the country’s electricity demand.
However, observers warn any expansion of nuclear capabilities in the sensitive Middle Eastern region could lead to a nuclear arms race that could end in disaster.
By Tsvetana Paraskova for Oilprice.com
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Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
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While China refrains as a rule from interfering in the internal affairs of other countries, the United States, on the other hand, makes it its business to do exactly the opposite by insisting that it will only offer technical help to Saudi Arabia if any agreement includes preventing the enrichment of uranium or reprocessing of plutonium from the reactors, to prevent the weaponization of nuclear power. In other words, the US wants to prevent Saudi Arabia or any other Arab country from developing nuclear weapons when Israel has been a nuclear power since the late 1950s with more than 150 nuclear warheads in its position and with full knowledge of the United States.
Using nuclear power for electricity generation by Saudi Arabia, UAE and other Arab Gulf States will enable them to prolong the longevity of their oil and gas exports and ensure global energy security.
Dr Mamdouh G Salameh
International Oil Economist
Global Energy Expert