EIN Presswire: Nuclear Power Press Releases

Battelle Engineers Work on Fix at Chernobyl

Thu, 24 May 2012 15:34:00 +0000

Construction of Enormous Cover for Ruined No. 4 Reactor Began on 26th Anniversary of Disaster, Should Be Completed in 2015

When reactor No. 4 at the Chernobyl Nuclear Power Plant exploded in the early morning hours of April 26, 1986, a disaster of mammoth proportions unfolded. Radioactive material blew as high as six miles and covered more than 60,000 square miles. A quarter century later, the first structure built to enclose the reactor needs to be replaced.

That's where a consortium including Battelle comes in. With a reputation for excellence in confronting large, complex scientific and engineering challenges, Battelle scientists and engineers and colleagues from Bechtel International Systems Inc. and other companies have begun the most important part of the recovery process. Twenty-six years to the day -- April 26 -- after the disaster occurred, construction of a moveable building that weighs as much as three Eiffel Towers began. Battelle employees from corporate headquarters in Columbus, Ohio along with staff from Pacific Northwest National Laboratory in Richland, Wash., are working on the project.

It's part of the EUR 1.5 billion Shelter Implementation Plan (SIP), the master directive funded by donations from more than 30 nations to the Chernobyl Shelter Fund, which is administered by the European Bank for Reconstruction and Development. The Bank held an open international tender in 1997 for a project management unit to provide technical and fiduciary oversight for SIP works. It was won by a consortium of Battelle, Bechtel and Electricité de France (EDF withdrew from the consortium in 2010).

The SIP's confinement building is an enormous steel shelter called the New Safe Confinement (NSC), and it will help mitigate the radioactivity for the next century while disassembly and cleanup activities are conducted inside. Although the SIP consists of 22 tasks, the largest is construction of the NSC, an arch-shaped steel structure that is being built distant from the current Object Shelter to avoid radiation exposure of construction workers. Once construction of the arch is complete, the team will slide the NSC -- 250 meters wide, 150 meters long, 100 meters tall, built from one-meter diameter tubular steel and big enough to enclose the Statue of Liberty -- over the older Object Shelter. The project should be complete in 2015.

Many of the other 21 SIP tasks are complete, or nearly complete, including providing site infrastructure and conceptual design of the NSC (which was performed by Bechtel-Battelle-EDF 2002-2003 and approved by the Cabinet of Ministers of Ukraine in 2004). A contract for final design and construction of NSC was awarded in 2007 to the joint venture company known as Novarka. Novarka consists of the two large construction companies, Vinci Construction Grands Projets and Bouygues Travaux Publics (both French). The arch's steel is being fabricated in Italy.

Battelle's history of working on huge projects extends back to its beginning in 1929. Battelle scientists performed work for the United States government in developing nuclear energy 70 years ago. Today Battelle has a significant management role in six of the U.S. Department of Energy's premier national laboratories -- including important nuclear work performed at Oak Ridge National Laboratory and Idaho National Laboratory.

The SIP was developed in 1996 as a means to transform the Chernobyl Object Shelter to an environmentally safe condition. Development of SIP was led by Carol Kessler, then at the U.S. Department of State and later a Battelle employee in the Center for Nonproliferation.

About Battelle
As the world's largest independent research and development organization, Battelle provides innovative solutions to the world's most pressing needs through its four global businesses: Laboratory Management; National Security; Health and Life Sciences; and Energy, Environment and Material Sciences. It advances scientific discovery and application by conducting $6.5 billion in global R&D annually through contract research, laboratory management and technology commercialization. Headquartered in Columbus, Ohio, Battelle oversees 22,000 employees in more than 130 locations worldwide, including eight national laboratories for which Battelle has a significant management role on behalf of the U.S. Department of Energy, the U.S. Department of Homeland Security, and the United Kingdom.

Battelle also is one of the nation's leading charitable trusts focusing on societal and economic impact and actively supporting and promoting science, technology, engineering and mathematics (STEM) education.

For more information contact
Katy Delaney
(614) 424-7208
Email Contact

T.R. Massey
(614) 424-5544
Email Contact

About 300 meters west of the current Object Shelter, workers begin construction of the new cover. Because the ground is contaminated, the area has been covered by new concrete to protect the workers. The massive new steel building will be moved to cover the old reactor after construction is completed.

New Survey Finds Strong Support For Nuclear Energy Among Pennsylvanians

Thu, 24 May 2012 12:00:00 +0000

New Survey Finds Strong Support For Nuclear Energy Among Pennsylvanians

Nearly 80 percent of Pennsylvanians support nuclear power as a reliable energy source

PR Newswire

HARRISBURG, Pa., May 24, 2012 /PRNewswire/ -- The Pennsylvania Energy Alliance today released the results of a new statewide survey that shows a strong majority of Pennsylvanians continue to support the use of nuclear energy.

The poll of 700 Pennsylvania residents found that nearly 9 of 10 respondents believe the use of nuclear power is an important part of meeting the United States' electricity needs.

"It's quite apparent that people recognize the benefits of nuclear power as a clean, safe and reliable source of energy," said PA Energy Alliance Executive Director Melissa Grimm. "The state needs to have a reliable source of electricity, especially now with summer approaching and our energy demands increasing."

Other notable results from the Susquehanna Polling & Research poll include:

79 percent of respondents agree that nuclear is a reliable source of energy
71 percent of respondents support allowing existing nuclear plants to extend their operating licenses
65 percent agree that nuclear power is a safe method of generating electricity
65 percent support the construction of new nuclear power plants in the state

"This survey clearly shows Pennsylvania's support for nuclear power and its importance to the future energy needs of the Commonwealth," said James Lee from Susquehanna Polling & Research. "It's also interesting to note that for those people who told us they live in close proximity to one of the five nuclear generating facilities in Pennsylvania, 72-percent had a favorable opinion of that facility. The poll tells us that these plants are thought of as 'good neighbors' in their communities."

To view complete poll results, please visit http://paenergyalliance.com/wp-content/file-uploads/March-2012-Poll-Results.pdf.

About the PA Energy Alliance
The Pennsylvania Energy Alliance for Generating Reliable Electricity for our Energy Needs (PA Energy Alliance) seeks to promote nuclear energy as a clean, safe, reliable and affordable source of power to help meet Pennsylvania's growing demand for electricity. The Alliance is a grassroots coalition that works to increase public awareness of the environmental and economic benefits of nuclear energy and provide a forum through which members can express their support for the continued safe operation of Pennsylvania's five nuclear energy plants.

*The survey of 700 Pennsylvania adults was conducted in March 2012. It was designed and conducted by Susquehanna Polling and Research, Inc. The sample error for the total sample is plus or minus 3.7%. Survey results were generated via a random sample telephone survey.

Contact:
Morgan Moerder
+1-717-877-0576
mmoerder@neimangroup.com

SOURCE PA Energy Alliance

Middlesex Water Company Holds Annual Meeting

Wed, 23 May 2012 19:29:00 +0000

"Greater efficiencies, stronger infrastructure, more strategic partnerships and a better trained workforce were just a few of the ways Middlesex Water delivered for its customers, communities and shareholders in 2011," said Dennis W. Doll, Chairman, President and CEO, at the Company's Annual Meeting of Shareholders held Tuesday, May 22, 2012 at its corporate headquarters. Middlesex Water Company (NASDAQ: MSEX), is a provider of water and wastewater and related services, in New Jersey, Delaware and Pennsylvania.

Management's presentation at the Annual Meeting of Shareholders is available in the Investor Relations section of the company's website www.middlesexwater.com under News & Market Data/Presentations and Interviews.

At the meeting, shareholders of the Company elected Directors John C. Cutting and Dennis Doll, ratified the Audit Committee's selection of Parente Beard LLC as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2012 and approved a non-binding advisory resolution approving the compensation of the Company's named executive officers.

About Middlesex Water Company
Middlesex Water Company, organized in 1897, is an investor-owned water utility, serving customers in central and southern New Jersey and in the State of Delaware.

For additional information regarding Middlesex Water Company, visit the Company's Web site at www.middlesexwater.com or call (732) 634-1500.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, our long-term strategy and expectations, the status of our acquisition program, the impact of our acquisitions, the impact of current and projected rate requests and the impact of our capital program on our environmental compliance. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission.

Contact:
Bernadette Sohler
Vice President - Corporate Affairs
Middlesex Water Company
1500 Ronson Road
Iselin, New Jersey 08830
(732) 638-7549
www.middlesexwater.com

Secret Documents Highlight Nuclear's Risk to Taxpayers

Wed, 23 May 2012 19:10:16 +0000

Secret Documents Highlight Nuclear's Risk to Taxpayers

PR Newswire

A closer look at new documents shows Department of Energy significantly underestimated controversial Vogtle Nuclear Plant's risk of default

ATLANTA, May 23, 2012 /PRNewswire-USNewswire/ -- Late last week Southern Alliance for Clean Energy (SACE) successfully negotiated the release of hundreds of pages of secret nuclear loan guarantee documents to settle Freedom of Information Act (FOIA) litigation spanning nearly two years. These documents reveal that one of the nation's largest utilities, Southern Company, was aggressively pursuing controversial federal nuclear loan guarantees at significantly below market rates.

One of the most substantial revelations revealed in the recently uncensored documents centers around the credit subsidy fee. The credit subsidy fee represents the "price tag" a utility must pay to the federal government for the loan guarantee, and it is calculated based on the borrower's risk of default.

According to the uncensored credit subsidy cost documents which showed a 0.5-1.5% fee for Southern Company, their credit subsidy cost for their share of the $8.3 billion loan guarantee would be only $17 to $52 million. Southern Company's largest subsidiary, Georgia Power, is majority owner. The uncensored documents also reveal that the other major utility partners were offered a conditional loan guarantee with substantially higher credit subsidy fees. Oglethorpe Power's fee was 2.5-4.3% for a range of $70-132 million and MEAG's fee was 5-11.1% for a range of $108-180 million. No one outside the nuclear industry itself has advocated for a subsidy fee as low as the one initially offered to Southern Company in the recently released documents.

"It is outrageous to learn that Southern Company was conspiring to secure below-market rate loan guarantees, which would have put billions of dollars of taxpayer money at risk, for a controversial nuclear plant in Georgia," said Dr. Stephen Smith, executive director of Southern Alliance for Clean Energy. "It is still unclear why the Department of Energy (DOE) has entertained this level of favoritism to this particular company. More information needs to be revealed about any terms of the loan guarantees that have been proposed since the commitments were initially made in order to learn whether any undue influence was brought to bear on DOE to accept this high-risk venture on the backs of taxpayers."

These documents provide crucial information related to the $8.3 billion U.S. taxpayer-financed nuclear loan guarantees that were conditionally committed to Southern Company and its utility partners in February 2010. The guarantees would support the utility companies' efforts to build two new Toshiba-Westinghouse AP1000 design nuclear reactors at an estimated cost of over $14 billion at the existing Plant Vogtle site near Waynesboro, Georgia.

"We are extremely pleased to have negotiated a settlement for our client that finally provides those concerned with the loan guarantee program the information that should've been public from the beginning," said Mindy Goldstein, director of the Turner Environmental Law Clinic, who represented SACE in the FOIA litigation. "The public can now meaningfully evaluate the loan guarantee offers and determine whether Southern Company was given preferential treatment at the risk of taxpayer dollars."

"It is past time DOE start shedding light on the troubled loan guarantee program," said Ryan Alexander, president, Taxpayers for Common Sense. "They are playing hide-the-ball with outdated and redacted materials that only get us so far in understanding the real risks taxpayers are assuming with these loan guarantees. The credit subsidy cost these documents reveal for the Vogtle project is absurdly low. It is now years out of date and little information on how it was justified is provided. This information shows that taxpayers should be even more worried about signing off on an $8.3 billion loan guarantee for the Vogtle reactor."

"A one percent fee doesn't even begin to reflect the risk of default," declared Arjun Makhijani, president of the Institute for Energy and Environmental Research. "With rising costs of Vogtle, low natural gas prices, and declining growth rates for electricity, the risk of default is far greater. Taxpayers deserve to see the basis on which the ridiculously low fee for Southern Company was calculated. The DOE should carefully study the experience of the first wave of nuclear power when scores of plants were cancelled, for relevance to Vogtle. That experience suggests that the probability of default due to non-completion could be far greater than 10%."

Recent news reports suggest the agency may have increased the credit subsidy fee from its initial offers. If true, this indicates that DOE may now believe investment in nuclear power plants is riskier than originally estimated. This possible increase in the credit subsidy fee by DOE could negatively impact the utilities' ability to finance the reactor project as originally proposed. Just last week, concerned parties tracking the proposed expansion highlighted possible cost overruns (http://www.cleanenergy.org/index.php?/Press-Update.html?form_id=8&item_id=297)  nearing $900 million along with scheduling delays. SACE has filed a FOIA request to unearth what these new estimates are in order to understand what risks taxpayers still face.

"My organization urges that the loan guarantee for Plant Vogtle be terminated," said Dr. Smith. "Despite this newly revealed information, and perhaps because of the ongoing controversies resulting from the nuclear accident at the Fukushima Dai-ichi complex in Japan, the terms of the updated loan guarantee deal are still being held in secret. We call for an investigation into this sweetheart deal and for all records of the negotiations and political influence to be made public. We believe this is a high-risk project, far from completion, that puts both taxpayers and ratepayers at risk. We believe there are safer, cleaner, more-cost effective alternatives to generating electricity."

Criticism of the loan guarantee program has abounded for several years. Many reports by various government agencies have stated that the DOE has mismanaged the loan guarantee program. (http://www.gao.gov/assets/590/589210.pdf)

To view the newly released, uncensored documents that Southern Alliance for Clean Energy has made publicly available, go to http://www.cleanenergy.org/index.php?/Testimony.html.

Southern Alliance for Clean Energy is a not-for-profit, non-partisan organization working to promote responsible energy choices that solve global warming problems and ensure clean, safe, healthy communities throughout the Southeast. www.cleanenergy.org.

SOURCE Southern Alliance for Clean Energy

Oconee Nuclear Station Projects Honored with Three Awards by the Nuclear Energy Institute

Wed, 23 May 2012 17:10:55 +0000

Oconee Nuclear Station Projects Honored with Three Awards by the Nuclear Energy Institute

PR Newswire

SENECA, S.C., May 23, 2012 /PRNewswire/ -- Duke Energy's Oconee Nuclear Station has received the Nuclear Energy Institute's (NEI) prestigious "Best of the Best" Award for the first digital upgrade of a nuclear safety-related system in the U.S.

(Logo: http://photos.prnewswire.com/prnh/20040414/DUKEENERGYLOGO )

The award was presented during NEI's Nuclear Energy Assembly on May 23, 2012, in Charlotte, N.C.

Oconee's digital upgrade of a reactor protection system (RPS) and engineered safeguards protection system (ESPS) also received the NEI Vision and Leadership Award. Oconee partnered with AREVA Inc. for this nuclear industry "first-of-a kind" project.

NEI's Maintenance Process Award recognized Oconee's use of a single-pass, fully automated system for steam generator inspection. Duke Energy partnered with Babcock & Wilcox Nuclear Energy Inc. on this effort.

Presented annually, NEI's Top Industry Practice awards recognize innovations that improve safety, efficiency and nuclear plant performance. The Best of the Best Award recognizes the most significant achievement in the nuclear industry during 2012.

"Duke Energy and the Oconee team are honored to receive national recognition for these two projects," said Oconee site Vice President Preston Gillespie. "This is the first digital upgrade of a safety-related nuclear plant system in the United States and the first use of enhanced, automated steam generator inspection technology."

The RPS/ESPS digital system addresses the obsolescence of analog equipment, further protects the integrity of the nuclear fuel and incorporates system enhancements into the overall design. These enhancements include visual, online monitoring and diagnostic capabilities.

The new digital system was installed on unit 1 during the spring 2011 Oconee refueling outage. The system is being installed on unit 3 as part of the current refueling outage and will be installed on unit 2 in 2013.

During a typical Oconee outage, preventive maintenance work is conducted on numerous systems, including each unit's twin steam generators. This new steam generator inspection technology was used for the first time during the 2011 Oconee Unit 1 and 2 refueling outages.

This single-pass, fully automated system incorporates a robot and new analytical tools that further enhance safety and reduce the time and labor needed to perform steam generator inspections.

"These two awards recognize the achievements of the project teams at Oconee and our corporate headquarters. Engineers, technicians and others worked diligently to install and ensure these systems functioned as designed," said Gillespie.

Duke Energy Carolinas owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides approximately 19,000 megawatts of owned electric capacity to approximately 2.4 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.

Duke Energy (NYSE: DUK) is one of the largest electric power holding companies in the United States. Headquartered in Charlotte, N.C., its regulated utility operations serve 4 million electric customers in the Carolinas, Indiana, Ohio and Kentucky, and a half-million natural gas customers in Ohio and Kentucky. Its Commercial Power and International Energy business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. A Fortune 500 company, Duke Energy is listed on the New York Stock Exchange under the symbol DUK. More information is available at: www.duke-energy.com.



CONTACT:	Sandra Magee
	Phone: 864-873-4608
	24-Hour: 800-559-3853

SOURCE Duke Energy

Experts: Nuclear Power Industry Woes Spreading Across Nation From Florida To Iowa

Wed, 23 May 2012 16:00:00 +0000

Experts: Nuclear Power Industry Woes Spreading Across Nation From Florida To Iowa

PR Newswire

As Ratepayer Rebellion Rages in Florida, Small Modular Reactor and "CWIP" Advance Financing Drive Stopped Dead in Iowa; Next Battleground States: Missouri and North Carolina.

WASHINGTON, May 23, 2012 /PRNewswire-USNewswire/ -- Though its trials and travails at the national level get all the attention, the nuclear power industry is finding fewer and fewer friends in statehouses across the nation. In the Southeast, traditionally the stronghold of new nuclear power projects, a growing ratepayer rebellion in Florida seeks to curb advance financing of reactors that experts say will most likely never be constructed. In Iowa, even Warren Buffett could not help to persuade state lawmakers to permit advancing financing of a small modular reactor (SMR) in that state.

The Iowa defeat marked the nuclear power industry's failure in its first attempt to push its much-ballyhooed SMR technology through a state legislature. Opposition to advance financing of a new reactor is so strong in Missouri that the industry has been forced to go to Washington, D.C., to seek a $452-million taxpayer-funded grant in the absence of state-level and Wall Street support. In North Carolina, diverse groups are coming together to block a push by Duke to liberalize construction work in progress (CWIP) provisions to dig even deeper into the pockets of ratepayers in that state.

Examples of the growing state-level opposition to advance financing of SMRs and other new nuclear reactors include the following:

IOWA. The Iowa Legislature adjourned last week without passing a bill that would pave the way for MidAmerican Energy to charge ratepayers in advance for new nuclear reactor construction. As Friends of the Earth noted: "The utility could have been allowed to keep the money even if construction was never completed. MidAmerican lobbied extensively for the bill but Iowa ratepayer concerns about nuclear power doomed the proposal. An Iowa Poll by the Des Moines Register in January found that over three fourths of Iowans were opposed to the measure. The legislation was unneeded — nuclear power is already allowed in Iowa if it can compete with alternatives." The bill was opposed by a broad coalition of groups, including Iowa AARP. (See http://thegazette.com/2012/05/20/nuclear-bills-failure-a-win-for-all-iowans/.)
MISSOURI. The Missouri General Assembly adjourned last week without passing a bill that would have attacked a consumer protection law passed by 65 percent of Missouri voters in 1976. "Three out of the last four years Ameren Missouri has failed to legislatively repeal or erode a voter approved consumer protection law making it illegal for monopoly utilities to charge ratepayers in advance of providing a service," said Ed Smith, safe energy director for the Missouri Coalition for the Environment. "I fully expect another legislative attack next year on a law that has kept energy rates low in Missouri for the last 36 years." (For a discussion of the related issues, see: http://www.stltoday.com/news/opinion/columns/the-platform/editorial-lots-of-ifs-in-missouri-s-latest-nuclear-gambit/article_e795ae6b-4544-5a13-a950-13ec99a63b4d.html.)
FLORIDA. State and local officials made it clear on April 12, 2012 that bipartisan opposition is growing in Florida to the controversial use of so-called "nuclear cost recovery" to force ratepayers in the state to pay in advance for costs associated with four Progress Energy of Florida (PEF) and Florida Power & Light (FPL) nuclear reactors that are increasingly unlikely to ever be built. Among those filing legal action to block NCR abuses: State Representative Michelle Rehwinkel-Vasilinda, who initiated the legislators' amicus brief, was joined by State Senators Charles Dean, Sr. and Mike Fasano. (See http://www.cleanenergy.org/images/testimony/LegislatorsAmicusBrief_FLNCRC_040912.pdf.) A growing number of local anti-nuclear cost recovery resolutions, which began with the Village of Pinecrest (located near the proposed Turkey Point reactors), are now spreading across the state, including multiple municipalities in PEF and FPL service territories, including the Miami-Dade League of Cities, Yankeetown and Crestview, among others.
NORTH CAROLINA. A broad coalition of environmental and consumer groups have banded together to oppose proposed legislation that would "liberalize" advanced cost recovery laws as they currently exist in North Carolina. The legislation would let utilities such as Duke Energy adjust rates annually without the consumer protections of a general rate-making case. Duke customers paid out $224 million when the company canceled its Cherokee nuclear reactor in 1982. Ratepayers are understandably wary about taking on more risk as Duke debates whether or not to even build two new reactors at the Lee site near Gaffney, South Carolina, which, in order to be viable, would require both a huge uptick in electricity demand as well as a rise in natural gas prices. May 2012 survey results of 500 likely North Carolina voters found broad opposition to rate increases to build nuclear reactors. See http://www.consumersagainstratehikes.org/wp-content/uploads/2012/05/Poll_Key_Results_CARH.pdf.

Florida State Senator Mike Fasano said: "Based on its experience with costly and delayed reactors, Florida has helped to set the example of what not to do with advance financing of nuclear power. It is inherently unfair for utilities to shift the risk to their customers, our constituents, to front the costs of massive and expensive construction projects that are not even guaranteed to be completed. These dicey investments ought to be the responsibility of utility shareholders and their investment partners who profit from them, not the average ratepayer who is already struggling to pay their monthly utility bill or keep their business afloat. In Florida, allowing utilities to recover the costs of a new nuclear power plant before the plant was even placed in service has been unfair to consumers and bad public policy."

Steven Falck, senior policy advocate, Environmental Law and Policy Center, Iowa, said: "Common sense prevailed in Iowa to stop the advance financing of a small modular reactor. MidAmerican drafted legislation for 'Construction Work in Progress' for nuclear facilities in the state. The legislation would have changed traditional ratemaking principles to allow for cost recovery before a facility is complete and with no guarantee that a facility will ever be completed. The bill was amended on three different occasions to secure passage in the Iowa House last year and the Senate Commerce Committee this year. When sponsors introduced the three amendments, proponents described the amendments as providing additional protections to ratepayers, but upon close examination, the amendments did not address the shift of financial risk to customers or the ability for the utility to recoup costs for a facility that is never completed and operated."

Edward Smith, safe energy director, Missouri Coalition for the Environment, said: "We led a ballot initiative campaign in 1976 that resulted in 65 percent of statewide voters outlawing Construction Work In Progress (CWIP). MCE and its allies have defended this law from attack in the state legislature three of the last four years. Ameren Missouri, our state's largest monopoly utility, has been looking to expand nuclear power in Missouri since 2008. Now, Ameren Missouri wants $452 million of taxpayer money because it cannot convince legislators that paying in advance for expensive and risky nuclear power is a good idea. The Department of Energy grant would go towards the development of unproven and untested small modular reactors. If SMRs make financial sense, which they do not, the nuclear industry should use private investment money instead of risking taxpayer money on what is likely to become an 'atomic Solyndra'."

Matthew McKinzie, Ph.D., senior scientist, Nuclear Program and Lands and Wildlife Program, Natural Resources Defense Council, said: "The still substantial economic, technical and regulatory uncertainties surrounding Small Modular Reactors make their future role as a competitive, safe, clean electricity source only speculative, and given the track record of nuclear power there are reasons for pessimism."

For more on the issues associated with SMRs, see http://www.psr.org/resources/small-modular-reactors.html.

This media briefing was organized by Nuclear Bailout.

SOURCE NuclearBailout.org, Washington, D.C.

Ricoh's Successful Utilities Conference "Go Beyond the Meter" Returns for an Encore Engagement With Industry Leaders

Wed, 23 May 2012 13:00:00 +0000

Ricoh's Event to Address New Challenges and Opportunities in the Utilities Vertical

Ricoh Production Print Solutions LLC (Ricoh), a leading provider of digital output solutions, today announced its second annual Go Beyond the Meter conference, a utilities-specific event, which will take place in Boulder from June 18-20. The event will again bring together utility executives, industry analysts, and thought leaders to share best practices, learn about emerging trends, and discuss today's opportunities and challenges.

At this year's conference keynote speaker Christine Richards, a Senior Research Analyst at Energy Central, will unveil new research on using analytics to improve customer engagement. Richards' talk, titled "Research on Utilities: Improving Customer Communications" will focus on how utility companies can analyze their customer data to improve their communications, help lower their services costs, and establish better customer experiences.

Other experts and sessions at the event include:

Joe Pulizzi, award-winning strategist, author and Founder of Content Marketing Institute. His session: "Good to Great Content Marketing" will speak to developing content marketing strategies that generate passionate fans and subscribers to grow businesses
Wes Friesen, Manager, Revenue Collection & Community Offices, PGE. Friesen returns to Go Beyond the Meter to speak about their success in bill redesign using marketing analytics and the overall impact on customer satisfaction in his talk "Customer Experience: Portland General Electric"
Jason Cormier, Co-Founder, Room 214. A social media expert, Cormier's talk, "Social Media & Utilities: Techniques, Experience for Improved Communications" will offer insight as to how utility companies can use new channels to reach their audiences effectively
Mike Bryant, Worldwide Customer Strategy & Marketing Analytics, Ricoh. A thought leader in marketing analytics and customer strategy, Bryant will discuss practices using data-driven insights to create highly targeted and relevant marketing in a talk called "Marketing Analytics for the Utilities Industry"
Multiple customer experience sessions, featuring executives from national and international power companies

"Well-executed, relevant communications have become essential for utilities, as they seek to engage existing and potential customers, while keeping overhead costs low," said Joe Pulizzi, Founder, Content Marketing Institute. "I'm looking forward to sharing strategies about communicating effectively with customers which can provide incredible gains in customer knowledge, customer satisfaction, and a company's bottom line."

"Last year's award-winning event was a success on every level, and the feedback we received confirmed that attendees found the panels valuable and educational," said Sandra Zoratti, Vice President of Marketing, Executive Briefings and Education, Ricoh. "As utilities move into an increasingly de-regulated arena, we at Ricoh want to provide support for the new challenges they will face, by helping them capitalize on new opportunities we have uncovered by using data-driven marketing strategies, which produce real results."

To find additional information about the Go Beyond the Meter conference, please visit http://www.gobeyondthemeter.com/.

| About Ricoh |

Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in more than 200 countries and regions. In the financial year ending March 2012, Ricoh Group had worldwide sales of 1,903 billion yen (approx. 23 billion USD).

The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.

Under its corporate tagline, imagine. change. Ricoh helps companies transform the way they work and harness the collective imagination of their employees.

For further information, please visit
www.ricoh.com/about/

Contact:
Tracey Sheehy
Breakaway Communications for Ricoh Production Print Solutions
Tel: (212) 616-6003
Email: Email Contact

Dahlman Rose & Co. To Host Uranium Executive Forum

Wed, 23 May 2012 12:30:00 +0000

Dahlman Rose & Co. To Host Uranium Executive Forum

PR Newswire

NEW YORK, May 23, 2012 /PRNewswire/ -- Dahlman Rose & Company, LLC, a leading investment bank specializing in the global natural resources supply chain, will host a Uranium Executive Forum on June 5th, 2012 in New York City. The forum will feature presentations by top executives from 9 uranium companies. In addition, Philip Macoun, Principal Consultant at CRU Strategies will serve as a keynote speaker during the forum.

The format of the forum will consist of presentations by company management, as well as one-on-one meetings. Presenting companies currently include:

Cameco Corporation (CCJ), Denison Mines Corp. (DNN), Energy Fuels Inc. (EFR.CN), Laramide Resources Ltd. (LAM), Strathmore Minerals Corp. (STM), Ur-Energy Inc. (URG), Uranerz Energy Corporation (URZ), Uranium Energy Corp. (UEC), and Uranium Resources, Inc. (URRE).

The forum will be led by Anthony Young, Director and Metals & Mining Analyst. "We continue to anticipate that nuclear power will play an important part in the global electricity supply chain. This forum will be an opportunity to hear from exploration and production companies, along with a utility who is in the process of building the first domestic nuclear reactor in 25 years," Young said.

ABOUT DAHLMAN ROSE & CO.

Dahlman Rose & Co., LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on energy, transportation, infrastructure, and other industries that compose the global supply chain. The firm's industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose provides institutional sales and trading, equity research, mergers and acquisitions advisory, and underwriting services. For more information regarding Dahlman Rose, please visit www.drco.com.

SOURCE Dahlman Rose & Co., LLC

Rising Steel Industries of China & India to Increase Asia Pacific Iron Ore Production

Wed, 23 May 2012 09:08:00 +0000

MarketResearch.com has announced the addition of the new report "Iron Ore Mining Market in Asia-Pacific to 2020 - Interplay Between Regional Demand for Steel and Iron Production Shapes the Competitive Landscape," to their collection of Energy & Resources market reports. For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Iron-Ore-Mining-Asia-Pacific-6927070/

China and India are predicted to drive the iron ore mining market over coming years, according to the new report.

The report states that future iron production growth in the Asia-Pacific region, which is the largest producer and consumer of iron ore in the world, is expected to rocket, primarily due to demand from these two emerging economies.

Asia-Pacific's iron ore consumption increased from 348.2 million metric tons in 2000 to an estimated 1.6 billion metric tons in 2011. During 2012-2020, iron ore consumption in Asia is expected to increase at a CAGR of 5.2% to reach 2.6 billion metric tons in 2020. This is owing to rising demand from the steel industries of China and India, which are expected to account for a combined demand of 2.3 billion metric tons of iron ore by 2020.

The Asia-Pacific region's substantial reserves of iron ore represent a major strength over other iron ore mining regions across the globe. According to the United States Geological Survey (USGS), Asia had 61.3 billion metric tons or 36% of global crude iron ore reserves at the end of 2010. These reserves by and large are mainly located in Australia, China, Kazakhstan and India.

The region's iron ore production stood at 1.8 billion metric tons in 2011, and is expected to grow at a compound annual growth rate (CAGR) of 6.1% to reach 3.1 billion metric tons in 2020, surpassing consumption by 500 million metric tons.

Iron Ore Mining Market in Asia-Pacific to 2020 - Interplay Between Regional Demand for Steel and Iron Production Shapes the Competitive Landscape

This report provides key information and analysis of the Asia-Pacific iron ore mining industry that comprises China, Australia, India and Kazakhstan. The report covers the industry's drivers and restraints, production, reserves, consumption and details of country's trade (imports and exports).

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research's team of industry experts.

For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Iron-Ore-Mining-Asia-Pacific-6927070/

About MarketResearch.com

MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Veronica Franco at 240-747-3016 or visit http://www.marketresearch.com.

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North American Demand for Steel to Boost Iron Ore Production

Wed, 23 May 2012 08:08:00 +0000

MarketResearch.com has announced the addition of the new report "Iron Ore Mining Market in North America to 2020 - Demand for Steel in the US to Boost Regional Iron Ore Production," to their collection of Energy & Resources market reports. For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Iron-Ore-Mining-North-America-6927073/

Growing demand looks to bring about an evolution in the US iron industry, despite North America having historically been a modest iron ore producing and consuming region, according to a new report by mining analysts GBI Research.

The report states that increasing regional demand for steel is boosting iron ore production, made possible by the area's huge natural resources.

During 2012-2020, the rising global demand for steel is expected to be the main factor behind growth in iron ore production. This demand is primarily due to stem from the US, but will be coupled with demand from other steel-producing countries such as China, Germany and France.

North America is home to substantial high-grade iron ore reserves and, according to the United States Geological Survey (USGS) 2011, the region contributed around 13.2 billion metric tons towards global iron ore reserves at the end of 2010, accounting for an 8% share of total global reserves. The US, with potential reserves of 6.9 billion metric tons, or around 4% of the global iron ore reserves, has the largest iron ore reserves in the region, followed by Canada with a 3.6% share of the global reserves. North American iron ore reserves are predominantly magnetite and hematite grades, which are rich in ferrous content and require no further beneficiation. North America's iron ore reserves are mainly found in the provinces of Minnesota and Michigan in the US, and in the Quebec, Newfoundland and Labrador provinces of Canada.

North America produced an estimated 97.1 million metric tons (MMt) of iron ore in 2011, and production is expected to grow at a compound annual growth rate (CAGR) of 4.1% during 2012-2020, to reach 140 MMt in 2020.

North America's iron ore consumption decreased from 90.1 MMt in 2000 to an estimated 61.7 MMt in 2011. However, during the forecast period, the North American iron ore consumption is expected to increase at a CAGR of around 3.6% to reach 86.8 MMt by 2020.

For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Iron-Ore-Mining-North-America-6927073/

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Westinghouse, Burns & McDonnell and Electric Boat Collaborate in Applying for DOE SMR Funding Opportunity

Mon, 21 May 2012 14:15:00 +0000

Westinghouse, Burns & McDonnell and Electric Boat Collaborate in Applying for DOE SMR Funding Opportunity

PR Newswire

ARLINGTON, Va., May 21, 2012 /PRNewswire/ -- Westinghouse Electric Company, Burns & McDonnell and General Dynamics Electric Boat will collaboratively team to support the Westinghouse Small Modular Reactor (SMR) application for the U.S. Department of Energy (DOE) Small Modular Reactor Funding Opportunity.

Michael Anness, SMR product manager at Westinghouse Electric Company, announced the teaming arrangement today at the Platts SMR conference in Arlington, Va. "We are very pleased to welcome Burns & McDonnell and Electric Boat as members of our vendor team to support the Westinghouse Small Modular Reactor design effort, and the ultimate deployment of a Westinghouse SMR at Ameren Missouri's Callaway Energy Center," said Anness. "We feel that this collaboration is an excellent fit for the team and will tremendously enhance our capabilities to provide licensing, construction and operational certainty that no other U.S. SMR supplier applying for DOE investment funds can match."

"Developing and building these next-generation reactors is a transformative opportunity to create jobs and grow Missouri's economy, and we're thrilled that Missouri-based Burns & McDonnell will be playing an important role in this partnership," Missouri Governor Jay Nixon said. "Westinghouse's application has unequivocal support from the state of Missouri, all of our electric-utility providers, labor organizations, and our powerhouse research universities. Adding a world-class engineering firm like Burns & McDonnell to the team only makes our application stronger. We are extremely pleased that Westinghouse has turned to this landmark Missouri company for this pivotal role on the architectural and engineering team."

Department of Energy (DOE) SMR investment funds will be awarded to SMR projects that have the most potential and promise to be licensed by the Nuclear Regulatory Commission and achieve commercial operation by 2022. The cost-share agreements will span a five-year period and, subject to Congressional appropriations, provide a total investment of approximately $900 million, with at least 50 percent provided by private industry. Westinghouse submitted its application to the DOE last Friday, May 18, on behalf of the Ameren Missouri-led NexStart SMR Alliance. The addition of Electric Boat and Burns & McDonnell to the Westinghouse team will further support and provide additional confidence to the Westinghouse SMR Project in its pursuit of the DOE funding opportunity.

Burns & McDonnell, Missouri's oldest and largest engineering firm will provide architectural and engineering support to design the power systems of the class-leading 225 MWe Westinghouse SMR. The company's more than 110 years of experience with all generation types includes an expansive and broad wealth of knowledge and expertise in new plant design, existing plant upgrades, operating plant issues, and design and analysis of myriad complex systems.

Electric Boat has joined the Westinghouse-led team to provide modular design support, leveraging the expertise attained over more than 60 years of nuclear-powered submarine design and manufacturing to the benefit of commercial nuclear programs. Electric Boat's specialized expertise in modular design will facilitate the achievement of factory-build efficiencies never before seen in nuclear energy deployment.

The Westinghouse SMR is a 225 MWe integral pressurized water reactor (PWR), with all primary components located inside of the reactor vessel. It utilizes passive safety systems and proven components, as well as modular construction techniques – all realized and already licensed in the nuclear industry-leading AP1000® reactor - to achieve the highest level of safety and reduced number of components required. Westinghouse believes that this proven approach will provide licensing, construction and operational certainty that no other SMR supplier can match with competitive economics. For more information about the Westinghouse SMR, visit www.westinghousenuclear.com/smr/index.htm.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants.

Founded in 1898, Burns & McDonnell is a 100 percent employee-owned, full-service engineering, architecture, construction, environmental and consulting services firm. Burns & McDonnell is currently the 23rd largest AEC firm in the Engineering News-Record Top 500 ranking. The firm is among the leaders in many categories, including the No. 2 ranked firm in the Transmission & Distribution category. With the multidisciplinary expertise of more than 3,400 professionals in more than 30 regional, national and international offices, Burns & McDonnell plans, designs, permits, constructs and manages facilities worldwide with one mission in mind: to make its clients successful.

More information about General Dynamics is available on the Internet at www.gdeb.com.

SOURCE Westinghouse Electric Company

Sponsorship Opportunities Available for Advanced Energy 2012 Conference

Mon, 21 May 2012 14:00:00 +0000

Conference Sponsorship Puts Organizations at the Forefront of Energy Research and Development

For the last five years, Advanced Energy has firmly established its position as one of the nation's foremost conferences on the future of energy. This year's conference, Advanced Energy 2012, will take place on October 30 - 31, 2012 in New York City with a new, expanded format that combines energy conferences from across New York State for an unprecedented opportunity to learn, share and network. The conference also provides an opportunity for organizations to take an elite position at the forefront of energy research and technology development by sponsoring the event.

Advanced Energy 2012 will bring together thousands of attendees, including business leaders, researchers, innovators and policy makers from all over the world representing hundreds of organizations, dozens of colleges and universities, and most National Laboratories and military organizations. By sponsoring this event, companies will be able to showcase their products and services to key stakeholders who influence the most important energy decisions of our time, while highlighting their dedication to America's energy future.

The conference will be held at the newly renovated Jacob K. Javits Convention Center, and is expected to attract a broader than ever audience. Conference sponsors will be able to enhance their visibility and gain wide exposure. Additionally, the conference encompasses a wide range of technologies and market segments and typically draws attendees from across all areas of renewable and sustainable energy management technology, so sponsoring companies will be able to earn recognition beyond their particular segment.

Major sponsorship provides companies with maximum visibility in all public relations and marketing initiatives and creates greater awareness of their brand among the government officials, investors and potential technology partners attending the event. Companies sponsoring the event will also benefit from strong public recognition through the conference's literature and signage as well as by having their logo and a special sponsor profile appear in the conference program guide.

The conference is organized by the Stony Brook University Advanced Energy Research & Technology Center (AERTC.org), a partnership of academic institutions, energy providers and industrial corporations dedicated to innovative energy research, education and technology deployment. The organization is committed to promoting the development of cheaper, cleaner energy, with the long-term goal of seeing sustained growth and thousands of new jobs in the energy sector.

"Advanced Energy 2012 promises to be our biggest conference yet, gathering today's foremost thinkers on the future of energy policy," said Robert Catell, chairman of the board of AERTC. "The benefits of sponsoring the conference are immense, giving organizations the opportunity to promote their dedication to the advancement of green technologies and clean energy research while networking with high-level business leaders, lawmakers and researchers from across the energy industry."

Major sponsors of Advanced Energy 2012 already include NYSERDA, New York Power Authority, the U.S. Department of Energy, Stony Brook University, Brookhaven National Laboratory, New York State Smart Grid Consortium, National Grid, The City College of New York, GE Energy, IBM, Long Island Power Authority, Polytechnic Institute of New York University, City University of New York, Hydro Quebec, Alfred State College, CACT, ConEdison, Ruskin Moscou Faltischek P.C., and CA Technologies. For more information on Advanced Energy 2012 sponsorship opportunities, please contact David Winchester at david@cleantechrocks.com, 516-680-6811 or visit: http://www.aertc.org/conference2012/.

About The Advanced Energy Research and Technology Center (AERTC.org)

Headquartered at Stony Brook University, the Advanced Energy Research & Technology Center is a true partnership of academic institutions, research institutions, energy providers and industrial corporations. The AERTC works to develop advanced cutting-edge technologies to explore new ways for the production of clean energy, enhancing production from renewable sources, and finding efficient methods for distribution and storage of energy with minimal impact on local ecosystems. Its mission is innovative energy research, education and technology deployment with a focus on efficiency, conservation, renewable energy and nanotechnology applications for new and novel sources of energy and to strengthen partnerships among the business, government and academic sectors, to help move toward a sustainable energy future that strengthens the economy, the environment and policy at all levels of government.

Platts Report: China's Oil Demand Gains Slightly in April

Mon, 21 May 2012 11:48:29 +0000

Platts Report: China's Oil Demand Gains Slightly in April

Lowest Year-on-Year Monthly Growth Since June 2011

PR Newswire

SINGAPORE, May 21, 2012 /PRNewswire/ -- China's apparent oil demand* in April edged up just 0.3% year on year to 38.32 million metric tons (mt), or an average 9.36 million barrels per day (b/d), a just-released Platts analysis of recent Chinese government data showed.

This is the lowest year-on-year monthly growth in oil demand since June 2011, when it fell 8.2% to 9.02 million b/d, from a high base in the same month of the previous year.

"This is just another sign of China's economic slowdown," said Song Yen Ling, Platts senior writer for China. "We've seen this sort of evidence in crude oil imports and refinery runs, and now it's being reflected in terms of oil demand."

April demand was dragged down by low refining levels, with total runs falling 0.3% on year to 36.96 million mt, or an average 9.03 million b/d, according to National Bureau of Statistics data released on May 11.

April's crude oil processing volumes were also the lowest so far this year on a barrels-per-day basis compared with 9.07 million b/d in March, 9.32 million b/d in February and 9.38 million b/d in January.

Meanwhile, net oil product imports, rose 16.2% year on year to 1.36 million mt (323,680 b/d) in April, although this was down 24.4% compared with 428,400 b/d of imports in March.

In the first four months of the year, overall apparent oil demand averaged 9.57 million b/d, up 1.8% year on year, according to Platts' calculations.

Refinery runs were up 1.5% year on year to 9.2 million b/d for the first third of the year, while net oil product imports rose 7.5% to 359,360 b/d during the period.

And it was not only the oil markets where China's slowing economy was evident.

China's total exports grew 4.9% year on year in April, compared with 7.6% in the first quarter and 14.3% in the last quarter of 2011. Overall imports were stagnant at 0.4% in April, down from 7.1% in the first quarter and 20.6% in the fourth quarter of last year.

Bernstein Research said May 18 that China should see a rise in apparent oil demand – in the range of 4-5% – in the second half of the year given government measures to boost the economy. The People's Bank of China, the country's central bank, cut the reserve requirement ratio for bank lending on May 18 by 50 basis points, bringing it to 20% for large banks and 18% for smaller lenders. The move is expected to boost liquidity in the financial system by up to Yuan 400 billion ($63.2 billion).

"The government's aims to boost the economy will likely get things flowing again on the oil side," said Senior Writer Song. "But it will also depend somewhat on how serious China is about retail oil pricing reform so that markets are allowed to work more freely."

MONTHLY TRADE DATA IN MILLION METRIC TONS:

	Apr '12	Apr '11	%Chg	Mar '12	Feb '12	Jan '12	Dec '11
Net crude imports	22.21	21.25	4.52	23.34	23.21	23.10	21.59
Crude production	16.89	16.96	-0.41	17.27	16.33	17.36	16.98
Apparent demand	38.32	38.22	0.26	40.23	38.64	40.77	41.02

*Platts calculates China's apparent or implied oil demand on the basis of crude throughput volumes at the domestic refineries and net oil product imports, as reported by the National Bureau of Statistics and Chinese customs. Platts also takes into account undeclared revisions in NBS historical data.

The government releases data on imports, exports, domestic crude production and refinery throughput data, but does not give official data on the country's actual oil consumption figure and oil stockpiles. Official statistics on oil storage are released intermittently.

Platts releases its monthly calculation of China's apparent demand between the 18th and 26th of every month via press release and via its website. Any use of this information must be appropriately attributed to Platts.

For more information on crude oil, visit the Platts website at www.platts.com. For Chinese-language information on oil and the energy and metals markets, visit http://www.platts.cn/.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2010, the Corporation has approximately 21,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

SOURCE Platts

Deepwater Discoveries & Rising Industrial Demand in Emerging Economies Are Driving the Crude Oil Industry

Mon, 21 May 2012 10:08:00 +0000

MarketResearch.com has announced the addition of the new report "Crude Oil Industry to 2016 - Deepwater Discoveries Worldwide and Rising Industrial Demand in Emerging Economies Driving the Industry," to their collection of Energy market reports. For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Crude-Oil-Deepwater-Discoveries-Worldwide-6927044/

Maturing conventional oil fields and a surging demand for crude are intensifying exploration efforts in the hope of boosting production, according to a new report by energy expert GBI Research.

The new report shows that a substantial increase in investment within the exploration and production (E&P) industry means that global oil discoveries have grown exponentially in number. This is exemplified through the many deepwater discoveries made over the past year, particularly in the South American region.

The E&P industry was devastated by the global economic crisis, and a lack of funds, coupled with low crude oil prices, caused many major projects to be delayed or even cancelled. However, the elevated demand for crude oil and improved prices has encouraged a strong recovery within the industry.

Rapid increases in crude oil prices over the past year have seen $90 per barrel become the norm, thanks to increased global demand and supply disruptions in the Middle East due to continuing repercussions from the Arab Spring. Sustained high prices and high demand are attracting huge investments from oil giants.

There was a substantial increase in oil discoveries worldwide during 2011, when 183 oil discoveries were announced. Asia-Pacific led with a 29% share, followed by South and Central America with 23%, and Middle East and Africa with 22%. Brazil holds the highest number of discoveries for one country, with most of these finds being made in deepwater areas.

South and Central America will play an increasingly important role in meeting global oil demands, as enormous heavy oil reserves in Venezuela and discoveries in Brazil will help to meet global crude oil needs in future years. Over the past two years, Brazil has discovered the world's most promising fields since the discoveries made in Kashagan, Kazakhstan, in 2000. South and Central America is therefore anticipated to be one of the most sought-after locations for future E&P investments.

World crude oil reserves increased from 1,268.8 billion barrels in 2000 to 1,620.3 billion barrels in 2011, at an average annual growth rate (AAGR) of 2.5%. Crude oil production globally increased from 24,759.1 million barrels in 2000 to 27,156.6 million barrels in 2011, at an AAGR of 0.9%. The crude oil industry is expected to grow at a steady pace, increasing further to 28,925.4 million barrels in 2016.

For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Crude-Oil-Deepwater-Discoveries-Worldwide-6927044/

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Anadarko to Present at Upcoming Oil & Gas Conference

Fri, 18 May 2012 16:00:00 +0000

Anadarko Petroleum Corporation (NYSE: APC) today announced that Vice President, Exploration, Ernie Leyendecker, will present at the 2012 UBS Global Oil & Gas Conference on Wednesday, May 23, 2012 at 7:30 a.m. CDT in Austin, Texas. A link to the audio webcast presentation will be available at www.anadarko.com. The replay and slide presentation also will be available on the company's website for approximately 30 days following the event.

Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2011, the company had approximately 2.54 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. For more information about Anadarko, please visit www.anadarko.com.