• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 7 hours Would bashing China solve all the problems of the United States
  • 12 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 5 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 1 hour China to Impose Dictatorship on Hong Kong
  • 5 hours Incompetent "Journalists"
  • 12 hours Model 3 cheaper to buy than BMW 3 series.
  • 2 hours Thugs in Trumpistan
  • 14 hours Iran's first oil tanker has arrived near Venezuela
  • 15 hours Let’s Try This....
  • 18 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 20 hours HVDC Cheaper Than Low-carbon Natural Gas
  • 15 hours Pompeo's Hong Kong
  • 6 hours 60 mph electric mopeds
  • 20 hours Oil and Gas After COVID-19
The Oil Storage Crisis Is Far From Over

The Oil Storage Crisis Is Far From Over

Despite the tremendous comeback rally…

Morgan Stanley Expects $40 Brent By Christmas

Morgan Stanley Expects $40 Brent By Christmas

Morgan Stanley expects Brent crude…

UK Opens its Doors to Chinese Investment in Key Infrastructure

On the final day of his trade visit to China, British Chancellor of the Exchequer, George Osborne, has announced that Chinese companies will be allowed to buy a stake in, or own 100%, of new nuclear power plants to be built in Great Britain, giving the People’s Republic a potentially huge role to play in the development of the British nuclear power industry.

“Today is another demonstration of the next big step in the relationship between Britain and China – the world's oldest civil nuclear power and the world's fastest growing civil nuclear power.

It means the potential of more investment and jobs in Britain, and lower long-term energy costs for consumers.”

The agreement, as well as encouraging Chinese investment in UK nuclear power plants, will also ensure that British companies, such as Rolls-Royce, International Nuclear Services, and Mott MacDonald, play a part in China’s multibillion dollar nuclear expansion.

Related article: California’s Nuclear Headache is Only Just Beginning

The Guardian writes that it is surprising that Osborne, a man keen on securing the defence of UK national sovereignty against Europeans, is so enthusiastic about opening up and handing over the country’s critical infrastructure to Chinese companies. If all of the memorandums of understanding signed by the two countries actually come to pass, then China would control important stakes in British water, airports, IT infrastructure, and nuclear power sectors.

The Chinese will be fully aware that the UK is a country driven to ruin by the financial crisis, and that its thirst for large infrastructure projects offer a great opportunity to make secure investments for the future. Chinese companies, and the state, have huge amounts of cash which they are looking to invest in profitable projects around the world, and the UK is offering itself as a prime candidate to receive that investment.

China also hopes that investment in the British nuclear industry will give it more power and more credibility in the global nuclear market, as its growing domestic market develops the potential to turn China into the world’s largest nuclear exporter.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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