NORWAY OIL & GAS DOWN
A preliminary report from the the Norwegian Petroleum Directorate (NPD) shows oil and gas output in Norway decreased in August compared to July, Reuters reported. The report found oil production reached 1.485 million barrels per day in August, down from 1.5 million bpd in July. Previously, NPD also revised figures for oil production down from the preliminary July figures of 1.524 million bpd for oil. The NPD said natural gas output in August hit 7.3 billion cubic meters, which is lower than the final July count of 7.98 billion cubic meters.
Last month, Bente Nyland, head of the NPD, said the agency expected oil production forecasts to be lower than originally expected, Bloomberg reported. After hitting peak production in 2000, oil production has slowed and oil and gas investments have decreased. Norway's oil and gas firm Statoil said it plans to reduce oil investments over the next three years by 8 percent.
"There's a large gap between what's profitable for society and what's profitable for companies," said Nyland, according to Bloomberg. "That might be the biggest obstacle."
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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.