• 4 hours U.S. Gas Prices Dip Ahead of Summer Driving Season
  • 5 hours Wildfires Shut Down 350,000 Bpd of Alberta Oil Output
  • 6 hours Oil Soars 4% As Ukrainian Drones Override OPEC+ Hikes
  • 9 hours Carney Vows to Fast-Track Canadian Energy Projects
  • 10 hours Trump Administration to Roll Back Biden’s Curbs on Alaska Oil Drilling
  • 11 hours Turkey Partners With Socar and BP in Azeri Caspian Sea Gas Field
  • 12 hours Russia’s Pipeline Gas Supply to Europe Rose in May
  • 13 hours Kazakhstan’s Giant Kashagan Oilfield to Hit 1 Billion Barrels Production Soon
  • 14 hours European Asset Manager Sells All Its Exxon Shares Over Climate Goals
  • 16 hours UK Industry Body Flags Exorbitant Energy Costs
  • 17 hours Goldman Expects OPEC+ Output Hikes to End in August
  • 3 days EIA Paints Bearish Picture for Oil Market With Record Supply, Low Demand
  • 3 days EOG Drops $5.6B on Big Bet on the Utica
  • 3 days Refiners Cheer Good Start to U.S. Driving Season
  • 3 days Supertanker With Russian Oil Anchored Near China Could Signal Weak Demand
  • 3 days EU Set to Propose More Flexible 2040 Emissions Target
  • 3 days U.S. Ethane Exports Face Licensing Hurdles After China Lifts Tariffs
  • 4 days India’s Eastern Diesel Exports Jump to 4-Year High
  • 4 days Libya Arrests Three for Storming NOC Amid Threats to Oil Supply
  • 4 days U.S. Sanction Threat Prompts Iran Tankers to Go Dark
  • 4 days Colombia Oil Investments Could Hit $4.68 Billion in 2025
  • 4 days Oil Wins Big as Supreme Court Greenlights Utah Rail Line
  • 4 days Chinese Oil Refiners Boost Exports as Domestic Demand Disappoints
  • 4 days Kazakhstan Can’t Make Supermajors Cut Oil Production
  • 4 days Galp Expects New Field to Boost Its Production in Brazil by 40%
  • 4 days Libya’s Eastern Government Warns Of Force Majeure on Oil Ports and Fields
  • 4 days Saudi Arabia to Review Spending Priorities After Oil Price Slide
  • 4 days Japanese Utility Set to Sign LNG Supply Deal From U.S. Lake Charles Project
  • 5 days Shell Boost Stake in Nigerian Deepwater as TotalEnergies Exits Bonga Oilfield
  • 5 days Saudi Aramco to Keep Tapping Debt Market After $5-Billion Bond Sale
  • 5 days Chevron to Cut 800 Jobs in the Permian
  • 5 days Trump Cancels $3 Billion Solar Subsidy
  • 5 days Oil Bulls Cheer A US Inventories See Surprise Draw
  • 5 days Iran May Pause Enrichment for Nuke Rights, Thawed Funds
  • 5 days China May Ease Rare Earths Export Controls for EU Semiconductors
  • 5 days Russia Hints at Changing Oil Price Level in Its Budget Rule
  • 5 days Russia’s Crude Oil Export Revenues Hit Two-Year Low as Prices Dip
  • 5 days Australia Extends Lifespan of Iconic LNG Plant to 2070
  • 5 days Exxon to Sell French Business to Canadian Firm
  • 6 days Shipping Data: Sanctioned Tankers Involved in Russia-India Oil Trade
China's Steel Export Surge Appears to Have Peaked

China's Steel Export Surge Appears to Have Peaked

Reports suggest China's steel export…

Iran's Uranium Enrichment Surge Raises Alarm

Iran's Uranium Enrichment Surge Raises Alarm

A UN watchdog report indicates…

China Is Leading the Global Nuclear Power Build Out

China is currently constructing a total of 26 nuclear power units with a combined capacity of 30.3 gigawatts (GW), the highest in the world, according to a report by the China Nuclear Energy Association (CNEA) cited by local media.

Last year, China approved the development of five new nuclear power projects and began construction of five units, the report found.

Air pollution from coal-fired power plants is a major impetus for China to expand its nuclear generation fleet, according to the World Nuclear Association.

China is not giving up coal, but it is betting on nuclear, too, to meet its rising power demand with cleaner energy sources. 

Many countries in the West, with the notable exception of Germany, have also recognized that nuclear power generation would help them achieve net-zero emission goals.

At the COP28 climate summit in Dubai at the end of last year, the United States and 21 other countries pledged to triple nuclear energy capacity by 2050, saying incorporating more nuclear power in their energy mix is critical for achieving their net zero goals in the coming decades.   

The United States, alongside Britain, France, Canada, Sweden, South Korea, Ghana, and the United Arab Emirates (UAE), among others, signed the declaration at the COP28 climate summit.

China is not a signatory to that declaration, but it aims to develop more nuclear energy capacities to reduce emissions as its demand for electricity rises.

As of September 2023, China had 55 nuclear power units in operation with a combined installed capacity of 57 GW, and 24 units under construction with a total installed capacity of 27.8 GW, Xinhua quoted CNEA official Wang Binghua as saying. By 2060, that capacity is expected to jump to 400 GW, the official said.

China is also expected to approve six to eight nuclear power units each year “within the foreseeable future.”

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage


ADVERTISEMENT


Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News