The Hungarian Atomic Energy Authority (HAEA) issued the licence for construction of units 5&6 of Paks II in August. Currently, the Paks NPP, built according to the Soviet design, operates four power units with VVER-440 reactors.

Brent rose 8 cents, or 0.09%, to $93.25 a barrel, WTI was at $87.35 a barrel, up 4 cents, or 0.05%.

So far, in 2022, spot electricity prices are five to ten times higher than in previous years. On August 22, the daily spot market price for Germany exceeded 600 EUR/MWh, 15 times the average of the 2010s.

The developed nations of Europe and the UK have played into the hands of Russia by closing coal and nuclear generation facilities and becoming dependent on renewables and Russian natural gas, rather than developing their own natural gas reserves.

The agreement provides for the development of a Comprehensive Plan for the creation of a mineral resource centre in Yakutia using electricity supplied by a low-power nuclear power plant based on two RITM-200N reactors. It outlined possible conditions for the implementation of the project on the principles of public-private partnership.

Brent rose $1.24, or 1.4%, to $90.39 a barrel, WTI climbed $1.05, or 1.3%, to $84.59.

Germany doesn’t support a price cap on Russia gas because some countries are still dependent on those supplies, Economy Minister Robert Habeck told reporters in Brussels.

Rosatom and Myanmar’s Ministry of Science and Technology and Ministry of Electrification have signed a Roadmap on cooperation in the field of the use of nuclear energy for peaceful purposes for 2022-2023 on the sidelines of the VII Eastern Economic Forum in Vladivostok.

Brent was down $2.33, or 2.4%, to $93.41, WTI trading to $87.02, up 15 cents from Friday's close.

Revert to the production level of August 2022 for OPEC and non-OPEC Participating Countries for the month of October 2022 as per the attached table, noting that the upward adjustment of 0.1 mb/d to the production level was only intended for the month of September 2022.