Latest news with #energy security
South China Morning Post
2 days ago
- Business
- South China Morning Post
Chinese nuclear giant CNNC sets new benchmark in uranium exploration
A Chinese energy giant has claimed a new benchmark in exploration of uranium, a resource growing in demand and importance in the country's quest for energy security State-owned China National Nuclear Corporation (CNNC) said on Friday that it had detected a deposit of sandstone-type industrial uranium mineralisation at a record depth of 1,820 metres (5,971 feet) underground in the Tarim Basin in Xinjiang Uygur autonomous region. This type of uranium deposit is generally bigger and easier and cheaper to mine than other kinds of reserves, such as volcanic rock and granite uranium. The discovery at the record depth reflects advances in Chinese resource exploration, according to state broadcaster CCTV. Uranium is a critical fuel for both nuclear power and nuclear weapons, but China is heavily reliant on imports. China produced 1,700 tonnes of uranium last year and imported 13,000 tonnes, according to official data.
Arab News
12-07-2025
- Business
- Arab News
Croatian PM receives GCC chief in Dubrovnik
DUBROVNIK: Gulf Cooperation Council Secretary-General Jasem Albudaiwi was received by Croatian Prime Minister Andrej Plenkovic at the Dubrovnik Forum in Dubrovnik, Croatia, on Saturday. During the meeting, the two sides discussed the 'latest developments in free trade agreement negotiations and a proposal to hold a joint Gulf-European conference on energy security,' the General Secretariat said in a report. They also reviewed relations between the GCC and Croatia, and discussed ways to develop and strengthen ties to serve mutual interests.
Al Arabiya
11-07-2025
- Business
- Al Arabiya
Saudi Arabia confirms full compliance with voluntary OPEC+ target
The Saudi Ministry of Energy reaffirmed Friday that it remained 'fully compliant' with its voluntary OPEC+ target. 'Marketed crude supply in June stood at 9.352 million barrels per day, in full alignment with the agreed quota,' a statement from the ministry said. 'Amid heightened geopolitical tensions, the Kingdom acted prudently, proactively, and preemptively, in line with its role as a reliable, dependable, and transparent energy supplier, to strengthen supply resilience and uphold global energy security,' the statement added. The ministry stated that production briefly exceeded supply, but emphasized that these additional volumes were not marketed domestically or internationally. Rather, the additional supply was redirected as a contingency measure to build domestic inventories, optimize east-west flows, and reposition barrels to offshore storage hubs under long-term delivery strategies, according to the statement. 'The Kingdom reports both production and supply data with full transparency to the OPEC Secretariat on a monthly basis. 'Furthermore, all eight OPEC-designated Secondary Sources were formally briefed at the beginning of this week regarding the June figures,' the ministry added.
