$40 BLN FOR THE BEGGAR
Igor Sechin, the head of Russian oil giant Rosneft, has asked the government to provide Rosneft with 1.5 trillion roubles ($41.6 billion) to help the company weather western sanctions, the Vedomosti newspaper reported on Thursday.
Under the plan, the state would spend money from its National Wealth Fund to buy Rosneft bonds, the paper reported, citing government sources and a letter from Prime Minister Dmitry Medvedev asking officials to analyse the idea.
Vedomosti said that Sechin had called for the aid as a response to western sanctions. The United States has banned credits and loans to Rosneft with a maturity longer than 90 days, and European banks and investors have de facto joined the sanctions, the paper reported.
Rosneft has net debt of $44.5 billion, mainly arising from its $54 billion acquisition of oil company TNK-BP in 2013, the paper noted.
There are insufficient funds in the National Wealth Fund to finance the injection, Vedomosti said, as much of the 3.1 trillion ($86 billion) fund has already been assigned to other projects.
An anonymous official cited by the paper called Sechin's plan "horrible", and another government source told the paper that Medvedev was unlikely to back it.
Rosneft declined to comment to Reuters.
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WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.
WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.
WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.
PLATTS - "The domestic uranium mining industry needs US government assistance to survive the foreign onslaught -- particularly from Russia and Kazakhstan -- that has undermined the US uranium industry while new players -- particularly China -- will soon make the situation worse," Energy Fuels and Ur-Energy said in a petition they jointly filed with the department.