Other News

Japan nuclear restart on way after Kansai Electric court win


A Japanese court has cleared the way for Kansai Electric Power Co. to restart two of its nuclear reactors early next year. The Fukui District Court on Thursday removed an injunction preventing the operation of Kansai Electric’s Takahama No. 3 and No. 4 nuclear reactors, Tadashi Matsuda, a representative for the citizen’s group that initiated the case, said by phone. The court also rejected a demand by local residents to block the resumption of reactor operations at Kansai Electric’s Ohi plant. The ruling was earlier reported by broadcaster NHK.

Oil & Gas

Rosneft offers Japanese companies chance to join Russian prospects


Russia's Rosneft, the world's top listed oil producer by output, has offered Japanese companies a chance to join projects in Russia's East Siberia and Far East, Chief Executive Igor Sechin said on Friday. There is a huge potential for cooperation between the two countries, he said, in offering Japanese firms the opportunity to participate in the Verkhnechonskoye, Srednebotuobinskoye, Tagulskoye and Russkoye projects, as well as in other developments already in operation or yet to be launched. "We proposed to our Japanese partners deals with total reserves of six billion barrels and with a resource base of 100 billion barrels," Sechin told an industry symposium in Tokyo.

Other News

Japan acknowledges first possible casualty from Fukushima


Japan is said to have acknowledged the first possible casualty from radiation at the Fukushima nuclear plant. The worker was diagnosed with cancer after the crisis broke out four years ago forcing more than 160,000 people from their homes after the meltdown at the plant following an earthquake and tsunami. The incident was the world’s worst nuclear disaster since Chernobyl 25 years previously.

Oil & Gas

Renewables to boost Japan’s energy capacity


Data shows Japan’s cumulative installed capacity will rise from 317.5 Gigawatts (GW) last year to an estimated 389.8 GW by 2025. The jump represents a moderate compound annual growth rate (CAGR) of 1.9%, according to research and consulting firm GlobalData. The company said while thermal sources are likely to contribute to the majority of installed capacity other renewable sources, including hydropower, will more than double by the end of the forecasted period.

Market info

Japanese stocks decline, led by mobile carriers, oil explorers


Japanese stocks fell, dragged down by energy explorers as oil prices declined and mobile carriers after Prime Minister Shinzo Abe called for lower phone rates. Mobile carriers NTT Docomo Inc., KDDI Corp. and SoftBank Group Corp. sank at least 5.5 percent after Abe said reducing the burden on households from mobile phone fees is an important issue to tackle. Energy explorer Inpex Corp. declined 6 percent as crude oil traded below $45 a barrel. Kansai Electric Power Co. climbed 1.9 percent as utilities led gains on the Topix index. Shipper Kawasaki Kisen Kaisha Ltd. jumped 1.8 percent after Mitsubishi UFJ Morgan Stanley Securities Co. raised its investment rating. The Topix slipped 0.9 percent to 1,466.37 as of 12:58 p.m. in Tokyo, swinging from a gain of 0.5 percent after last week capping its biggest weekly increase in almost two months. Volume was 34 percent below the 30-day intraday average. The Nikkei 225 Stock Average dropped 1.4 percent to 18,001.12. Both the Federal Reserve and Bank of Japan are holding policy meetings this week.

Market info

Oil prices pulled down by shrinking Japanese economy


Oil prices fell in early Asian trading on Monday as Japan's economy contracted on the back of falling exports and consumer spending, adding to fears that Asia's biggest economies are starting to slow at the same time. U.S. crude was trading at $42.07 per barrel at 0012 GMT, 43 cents below their last settlement and close to more than six-year lows. Brent futures were at $48.69 a barrel, down 50 cents but still some way off from their 2015-low of $45.19. Japan's economy, the second biggest in Asia and number three in the world, shrank at an annualised pace of 1.6 percent in April-June as exports slumped and consumers cut back on spending.

Renewables/Energy Transition

Japan restarts first reactor since Fukushima disaster


A power plant operator in southern Japan has restarted a reactor - the first to begin operating under new safety requirements following the Fukushima disaster. Kyushu Electric Power said it had restarted the No 1 reactor at its Sendai nuclear plant in Satsumasendai, southern Japan, as planned. The restart marks Japan’s return to nuclear energy four and a half years after the 2011 meltdowns at the Fukushima Dai-ichi nuclear power plant in the north east following an earthquake and tsunami. National broadcaster NHK showed plant workers in the control room as they turned the reactor back on. Tomomitsu Sakata, a spokesman for Kyushu Electric Power, said the reactor was put back online as planned without any problems.

Oil & Gas

China says it has every right to drill in East China Sea


China said on Friday it had every right to drill in the East China Sea close to waters disputed with Japan, adding that it did not recognise a "unilateral" Japanese median line setting out a boundary between the two in the waters. Japan this week called on China to halt construction of oil-and-gas exploration platforms in the East China Sea close to waters claimed by both nations, concerned that Chinese drills could tap reservoirs that extend into Japanese territory. Patrol ships and aircraft from both countries have been shadowing each other in the area over the past couple of years, raising fears of a confrontation and clash.

Other News

Japan’s 17,000 tons on nuclear waste in search of a good home


Welcome to Japan, land of cherry blossoms, sushi and sake, and 17,000 metric tons of highly radioactive waste. That’s what the country has in temporary storage from its nuclear plants. Supporters of atomic power say it’s cleaner than fossil fuels for generating electricity. Detractors say there’s nothing clean about what’s left behind, some of which remains a deadly environmental toxin for thousands of years. Since atomic power was first harnessed more than 70 years ago, the industry has been trying to solve the problem of safe disposal of the waste. Japan has been thrown into the center of the conundrum by its decision in recent months to retire five reactors after the Fukushima disaster in 2011.