• 308 days Will The ECB Continue To Hike Rates?
  • 308 days Forbes: Aramco Remains Largest Company In The Middle East
  • 310 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 710 days Could Crypto Overtake Traditional Investment?
  • 715 days Americans Still Quitting Jobs At Record Pace
  • 716 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 720 days Is The Dollar Too Strong?
  • 720 days Big Tech Disappoints Investors on Earnings Calls
  • 721 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 722 days China Is Quietly Trying To Distance Itself From Russia
  • 723 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 727 days Crypto Investors Won Big In 2021
  • 727 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 728 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 730 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 730 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 734 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 735 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 735 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 737 days Are NFTs About To Take Over Gaming?
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Oilprice.com

Oilprice.com

Writer, OilPrice.com

Information/Articles and Prices on a wide range of commodities: We have assembled a team of experienced writers to provide you with information on Crude Oil,…

Contact Author

  1. Home
  2. Markets
  3. Other

Exxon and Rosneft Plan to Drill for Oil in Old Soviet Nuclear Dumping Ground

It has been well documented that oil majors from around the world are looking at oil exploration in the Arctic, where they believe that some of the largest untapped fields in the world still lie. Environmentalists have been fighting efforts to start exploring for oil, fearing that any serious oil spill could mean the destruction of one of the last pristine wildernesses on the planet.

In the Kara Sea, where Exxon Mobil and Rosneft are planning to drill a region which is estimated to hold enough oil to supply the world for five years, environmentalists have a new reason to fear for the environment; nuclear radiation.

The Kara Sea is so remote that the Soviet Union used it as a dumping ground for radioactive material for more than 25 years. The two oil companies have avoided calls for the nuclear waste, estimated to consist of over 17,000 barrels of radioactive waste, worn-out reactors, and even an old nuclear submarine, to be cleared up before any exploration takes place.

Scientists from the Norwegian Radiation Protection Authority (NRPA) will soon present the results from their first survey in the area for 18 years, to determine whether or not the radiation is stable or increasing.

Rosneft released a statement to try and reassure the public that "all ecological and nature protection norms are being followed at the same time," using "the the best world practices available."

The most dangerous item down on the sea floor in that area is the K-27 nuclear submarine, which was dumped their by the Soviet navy in 1981. The NRPA said that any significant corrosion could damage the ships reactor and cause an environmental disaster.

Per Strand, a director at the NRPA, warned that "there might be a hypothetical possibility that the spent nuclear fuel in the reactor in extreme situations can cause an uncontrolled chain reaction, which can lead to heat and radioactivity releases."

Igor Kudrik, an ecologist from Norwegian campaign group Bellona, suggests that "oil companies should make sure that the area is swiped clean of nuclear waste before they start any oil exploration activity."

 


Source: http://oilprice.com/Latest-Energy-News/World-News/Exxon-Rosneft-Plan-to-Drill-for-Oil-in-Old-Soviet-Nuclear-Dumping-Ground.html

By. James Burgess of Oilprice.com

 

Back to homepage

Leave a comment

Leave a comment