May 2022

SK said the cooperation between TerraPower and group member companies SK Corporation and SK Innovation will "contribute to fostering the next-generation nuclear power plant industry in Korea through cooperation in securing and commercialising core SMR technology ...

The companies are advancing two different approaches to accelerate ground and flight testing for nuclear-powered prototypes: compact fusion and next-gen radioisotope concepts.

SPARC is described by PSFC as a compact, high-field, net fusion energy device which would be the size of existing mid-sized fusion devices, but with a much stronger magnetic field. It is predicted to produce 50-100 MW of fusion power, achieving fusion gain greater than 10.

U.S. commercial crude oil inventories decreased by 3.4 million barrels to 420.8 million barrels.

Brent was up 23 cents, or 0.2%, at $112.16 a barrel, WTI climbed 71 cents, or 0.6%, to $113.11 a barrel.

The price of OPEC basket of thirteen crudes stood at $117.20 a barrel on Tuesday

India's oil demand is expected to grow by 245,000 b/d year on year in 2022, revised up by about 20,000 b/d from an earlier outlook, due to better-than-expected demand trends.

China's domestic coal production hit a high of 395.79 million mt in March, before slipping to around 362.80 million mt in April

Germany will phase out nuclear energy by 2022.

The Finnish transmission system operator (TSO) Fingrid estimates that there is no threat to the sufficiency of electricity in the country since electricity imports from Russia covered about 10% of Finland’s total consumption before the suspension.