The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 503.70
Bid: 503.80
Ask: 503.90
Change: -6.70 (-1.31%)
Spread: 0.10 (0.02%)
Open: 506.40
High: 515.30
Low: 499.60
Prev. Close: 510.40
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Soviets performed nuclear blasts at Siberian oilfield to be shared with China

Fri, 25th Oct 2013 10:22

* At least seven blasts in 1970s and 1980s - regionalministry

* Moscow says field is safe, environmentalists see risks

* No radiation leaks reported at field

* Russia building closer energy ties with China

By Vladimir Soldatkin

MOSCOW, Oct 25 (Reuters) - A series of underground nuclearblasts was carried out in the 1970s and 1980s at an oilfield inSiberia that state firm Rosneft has agreed to developwith China.

Officials told Reuters the field was safe, but environmentalexperts expressed doubts. The revelation raises questions overthe growing energy alliance between Russia, the world's largestenergy producer, and China, the leading consumer.

At least seven "peaceful" nuclear detonations were performedat the Srednebotuobinskoye oilfield, according to a reportpublished by the environment ministry of the Republic of Sakha,a remote region in Eastern Siberia also known as Yakutia.

"Yes, indeed, there were nuclear explosions performed at thesite," a ministry spokeswoman told Reuters from the city ofYakutsk. No radiation leaks were reported at the site, she said.

Blasts at the field were intended to increase flows fromoil-bearing rock and, in one case, create a storage reservoir.

Rosneft recently ceded some of its oil riches by signing amemorandum to create a joint venture with China NationalPetroleum Corp (CNPC) to develop the 1-billion-barrel oilfield.

CEO Igor Sechin signed a new supply agreement this week thatwould raise Rosneft's exports to China to more than 1 millionbarrels per day.

The deals reflect President Vladimir Putin's drive to pivotRussia's energy export strategy eastward, away from Europe'sstagnating market and to the more dynamic Asia-Pacific region.

The Ministry of Natural Resources in Moscow, which issueslicences to develop mineral resources, ruled out any danger.

"We analyse all the risks, including radioactive ones. If afield has been allocated for development, that means we considerthere to be no risks," spokesman Nikolai Gudkov said.

But environmental experts expressed concern that oilextracted from the field would contain radioactive elements.

"Any nuclear explosion resembles what happens in a reactor -and the blasts at Chernobyl and Fukushima," said VladimirChuprov, a nuclear expert at Greenpeace Russia, referring to the reactor disasters in Ukraine and Japan.

"The results are the same: the emission of radionuclides,including strontium-90 and caesium. There is a risk that the oilwill be contaminated."

It was not clear whether Rosneft was aware of the blasts orhad told CNPC about them. Neither Rosneft nor CNPC could provideimmediate comment on the issue.

BLAST FROM THE PAST

Nuclear explosions for industrial purposes were not unusualduring the Soviet era, but the practice ended after incidents inwhich hazardous nuclides escaped. The United States also carriedout such explosions, including Operation Plowshare, launched inthe 1960s, to unlock resources of natural gas and oil.

As part of its atomic weapons programme, the Soviet Unionseparately conducted above-ground nuclear tests from 1949onwards at Semipalatinsk in Kazakhstan, exposing hundreds ofthousands of people to dangerous levels of radiation.

China carried out underground tests at Lop Nor, in itsnorthwestern Xinjiang region that borders Kazakhstan andMongolia, doing the last in 1996 before setting a moratorium.

A nuclide is an atomic nucleus. Some created as a result ofnuclear fission, such as strontium and caesium, are unstable andemit harmful radiation until they decay to a stable state.

Strontium-90 has a half-life of 28.8 years, while that of caesium-137 is 30 years, meaning that half of the nuclidescreated in a nuclear explosion would remain after those periods.

"Of course, there is danger from such deposits. The nuclideslast for a long time after blasts and may leak to the surface,"Alexei Yablokov, a member of the Russian Academy of Sciences andan environmental activist, told Reuters.

UNKNOWN RISKS

The Srednebotuobinskoye field, located north-west of thetown of Lensk in Yakutia, was discovered in 1970, and more than100 exploration wells have been drilled at the site.

The report of the regional ministry, dated November 2011,did not say whether developing the field would be dangerous.

However, scientists say that there may be danger lurkinginside the wells.

"Humankind has little experience with deposits where nuclearexplosions were carried out," said Viktor Repin of the StPetersburg Institute of Radioactive Hygiene, which has monitoredthe radioactive situation in Yakutia.

Eight peaceful explosions were carried out in Yakutia, ofwhich two, at diamond deposits, "got out of control", he said.Accounts of the actual number of blasts vary.

"In one explosion, radioactive materials leaked out," hesaid, adding the site was covered with earth to make it safe.

The Srednebotuobinskoye field holds oil and gas condensatereserves of more than 134 million tonnes and over 155 billioncubic metres of gas. Output from the field started this month.

It is expected to pump 20,000 barrels per day of oil in2014, rising to more than 100,000 bpd in 2017.

More News
17 Jan 2024 07:11

BP names acting CEO Murray Auchincloss as permanent leader

(Sharecast News) - BP has named its former chief financial officer Murray Auchincloss as its permanent chief executive, after having served in an interim capacity for the past four months.

Read more
16 Jan 2024 21:28

PRESS: BP close to naming acting CEO Auchincloss as permanent chief

(Alliance News) - Directors of BP PLC were meeting on Tuesday evening to finalise the appointment of Murray Auchincloss, the company's acting chief executive, as its permanent boss, according to a report.

Read more
16 Jan 2024 16:38

Shell halts Red Sea shipments over attack fears from Yemeni rebels

(Alliance News) -London-based oil major Shell PLC has paused transit through the key Red Sea shipping route indefinitely, over fears of escalating tensions involving Yemen's Houthi rebels, according to a media report on Tuesday.

Read more
16 Jan 2024 13:13

Shell in Nigeria

LONDON, Jan 16 (Reuters) - Shell pioneered Nigeria's oil and gas industry and remains a major investor in the West African country even after exiting its onshore operations. But over the decades the British company has come under fire over spills in the Delta region and struggles with oil theft, corruption and oil-fuelled violence.

Read more
12 Jan 2024 15:39

London close: Stocks rise on positive UK economic data

(Sharecast News) - London's financial markets closed on a positive note today, buoyed by fresh data indicating that the UK economy had returned to growth in November.

Read more
8 Jan 2024 19:48

Shell signs 20-year purchase deal with Canadian Ksi Lisims LNG project

Jan 8 (Reuters) - Global gas giant Shell has agreed to buy two million metric tons of liquefied natural gas (LNG) per year from Ksi Lisims LNG, partners in the proposed Canadian project said on Monday.

Read more
8 Jan 2024 16:59

LONDON MARKET CLOSE: Stocks mixed as eyes on US inflation data

(Alliance News) - Stock prices in London closed mixed Monday, with oil majors holding down higher gains in the FTSE 100 index.

Read more
8 Jan 2024 16:38

London close: Stocks manage positive finish after mixed session

(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

Read more
8 Jan 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms in muted start to week

(Alliance News) - Stock prices in London traded lower at the start of the week, with oil firms weighing on then FTSE 100, as investors look ahead to the week's key inflation prints.

Read more
8 Jan 2024 08:40

LONDON MARKET OPEN: Commodity-heavy FTSE 100 heads lower; Shell slips

(Alliance News) - The FTSE 100 kicked off the week on a downbeat note at Monday's market open, amid share price falls for commodity stocks.

Read more
6 Jan 2024 12:29

BP investors want oil firm to approach BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach BAE Systems Chief Executive Charles Woodburn about becoming the British oil giant's next boss, Sky News reported on Saturday, citing unidentified sources.

Read more
6 Jan 2024 11:38

BP investors want oil behemoth to target BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach Charles Woodburn, the BAE Systems chief executive, about becoming the company's next boss, Sky news reported on Saturday. (Reporting by Devika Nair in Bengaluru; Editing by Jan Harvey)

Read more
4 Jan 2024 16:54

LONDON MARKET CLOSE: Stocks up ahead of US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Thursday, as investors eye the latest US non-farms data.

Read more
4 Jan 2024 13:07

London close: Stocks rise as US jobless claims slow

(Sharecast News) - London markets showed mixed performance on Thursday as investors digested the latest UK services and mortgage data and a fall in jobless claims across the pond.

Read more
4 Jan 2024 12:09

LONDON MARKET MIDDAY: Retailers Next and JD Sports bookend FTSE 100

(Alliance News) - Stock prices in London were slightly higher at midday on Thursday, with the FTSE 100 looking set to snap the two-day losing streak it suffered at the start of the year.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.