2025-12-02 07:27

Kashiwazaki-Kariwa is world's largest nuclear power plant Niigata lawmakers begin year's last session Lawmakers set to vote on restart by December 22 Niigata governor approved TEPCO's restart KASHIWAZAKI, Japan, Dec 2 (Reuters) - A Japanese regional assembly on Tuesday began deliberations on whether to partially restart the Kashiwazaki-Kariwa Nuclear Power Plant, the world's largest, as the nation seeks to bolster its domestic power sources. The plant, located around 300 kilometers (186 miles) northeast of Tokyo on the coast of the Sea of Japan, was shut down after a powerful tsunami destroyed the Fukushima Daiichi reactor in 2011. Both are operated by Tokyo Electric Power Co (9501.T) , opens new tab. Sign up here. The peaceful coastal area encompassing Kashiwazaki city and Kariwa village, home to around 80,000 people, is gaining attention as the restart of the plant's Unit No. 6 would be the first for TEPCO since the Fukushima disaster. "The use of nuclear energy is essential in Japan, which has few resources," said TEPCO President Tomiaki Kobayakawa on Monday as he gave top delegates from the Japan Business Federation a tour of the plant. After the Fukushima disaster, Japan shuttered all 54 nuclear reactors in operation at the time, which left it heavily reliant on fossil fuel imports. Prime Minister Sanae Takaichi has said she supports more nuclear relaunches to strengthen energy security and address the cost of imported energy, which accounts for 60% to 70% of Japan's electricity generation. TEPCO has been improving safety at its nuclear power business, Kobayakawa said, as around 20 staffers - clad in thick blue hazmat suits - performed safety drills at the plant. But Yukihiko Hoshino, a member of the Kashiwazaki city assembly, said local residents were concerned about the chances of another nuclear accident. "The biggest worry is whether they will be able to evacuate," he said. He said there are still people who cannot return home to the Fukushima plant area. The Niigata assembly's final session of 2025 runs from Tuesday until December 22. TEPCO plans to restart the 1,356-megawatt Unit No. 6 in January, pending the assembly's vote. It is not clear when the assembly might vote on the plant's restart. TEPCO was looking to restart Unit No. 7 later and possibly decommission the other five. Of the 54 reactors that were in operation before the Fukushima incident, Japan has restarted 14 of the 33 that remained operable. On its own, Unit No. 6 could improve the supply situation for the energy-hungry Tokyo area by 2%, according to Japan's industry ministry. After years of decline, Japan's power demand is set to grow thanks to data center expansions and AI-driven businesses. TEPCO continues to pay compensation for the Fukushima Daiichi disaster. https://www.reuters.com/business/energy/japanese-regional-assembly-is-set-vote-by-december-22-restarting-nuclear-plant-2025-12-02/

2025-12-02 07:02

Witkoff and Kushner meet Putin for peace talks Decline in India's Russian oil imports may be brief, Kremlin says Caution emerges over US-Venezuela situation U.S. crude stocks rose by 2.48 million barrels last week - API NEW YORK, Dec 2 (Reuters) - Oil prices declined 1% on Tuesday as markets weighed faltering Russia-Ukraine peace hopes against fears of oversupply. Brent crude futures settled 72 cents lower, or 1.14%, at $62.45 a barrel, while U.S. West Texas Intermediate crude was down 68 cents, or 1.15%, at $58.64 a barrel. Sign up here. Both benchmarks advanced more than 1% on Monday. Investors turned their focus to the Russia-Ukraine peace talks as Russian President Vladimir Putin met with U.S. President Donald Trump's special envoy Steve Witkoff and son-in-law Jared Kushner in the Kremlin on Tuesday. “Oil prices are in check on expectations for a breakthrough in Ukraine peace talks that could lift restrictions on Russian supplies,” said Clayton Seigle, senior fellow at the Center for Strategic and International Studies. “But those hopes are likely to be dashed, and the market will be facing even more disruption risks as energy remains under fire by both sides.” MIXED RHETORIC ON RUSSIAN OIL Just before the meeting, Putin warned European powers that if they started a war with Russia, Moscow was ready to fight. Putin also threatened to sever Ukraine's access to the sea in response to drone attacks on tankers of Russia's "shadow fleet" in the Black Sea. Putin is set to start a two-day visit to India starting on Thursday, pitching more sales of Russian oil, missile systems and fighter jets in a bid to restore energy and defense ties hit by U.S. pressure on the South Asian nation. "The mixed rhetoric caused a little shakedown in oil, initially showing confidence that Russia will continue to be a supplier of oil to India," said Phil Flynn, senior analyst with Price Futures Group. However, Putin's comments signalled that the peace deal may not be as close as the market would have hoped, Flynn said. The latest concerns about oversupply, which put pressure on prices, have been balanced by attacks on Russian infrastructure over the weekend and tensions between the U.S. and Venezuela. On Monday, the Caspian Pipeline Consortium said it had resumed oil shipments from one mooring point at its Black Sea terminal following a major Ukrainian drone attack on Saturday. A Russia-flagged tanker loaded with sunflower oil reported a drone attack off the Turkish coast on Tuesday. Trump said over the weekend that the airspace above and surrounding Venezuela should be considered closed, sparking fresh uncertainty in the oil market, as the South American nation is a major producer. OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows its push to regain market share, amid fears of a looming supply glut. U.S. crude stocks rose by 2.48 million barrels in the week ended November 28, while gasoline inventories rose by 3.14 million barrels and distillate inventories rose by 2.88 million barrels from a week earlier, sources citing American Petroleum Institute figures on Tuesday. Official U.S. government inventory data will be released later on Wednesday. https://www.reuters.com/business/energy/oil-rises-geopolitical-risks-supply-2025-12-02/

2025-12-02 06:55

Operatives using drones, sniffer dogs to seek out carcasses Farms implementing strict controls to prevent spread No plans to cull boar population, agriculture ministry says Spain's pork sector employs 400,000 workers, largest EU exporter BARCELONA/MADRID, Dec 1 (Reuters) - Spanish police, soldiers and park rangers are racing to identify wild boars that might be infected with African swine fever and prevent the disease from crossing into the country's domestic herd, which is central to its multi-billion-euro pork export industry. Operatives are using drones, infrared technology and sniffer dogs to find any boar carcasses for testing, as well as sealing off the areas around animal tracks under highways and pipework to prevent live animals moving into other areas of the countryside. Sign up here. Police have been stationed and have posted signs to turn visitors away since the weekend around Barcelona's Collserola mountain range, a popular attraction for walkers, cyclists and joggers from the city. Those who live inside the park were told to keep dogs on leads and report any boar sightings. On farms, trade association Interporc said strict controls already in place for disease prevention had been reinforced. These included testing and quarantining of new animals, perimeter fencing and bird nets, regular disinfections and checks on drinking water, a strict employee dress code and proper storage of pig semen samples. Government vets were checking farms and taking samples, but none of the 39 in the area have tested positive. 'LEAVE THE WILD BOARS IN PEACE' The outbreak has revived memories of the last swine fever outbreak in 1994, when the virus reached farms, prompting mass pig culls and a complete shutdown of the country's pork exports. Still, Emilio Garcia Muro, an agriculture ministry official, said there was no plan to launch a cull for now. "We are going to leave the wild boars in peace, in this area," he said. "Specialized teams will be brought in ... to detect carcasses, but above all, the aim is not to disturb or kill in this type of situation." Spain is the European Union's largest pork exporter and the second-largest worldwide, with more than €8 billion in exports annually. The sector generates over €25 billion ($29.09 billion) in revenue and employs more than 400,000 workers. Within the EU, Spain's biggest export markets are France and Italy, and outside the EU, the United Kingdom, China and Japan. In August 2022, the Catalan authorities launched a controlled cull of spiralling wild boar populations, which had grown accustomed to venturing into urban areas and scavenging in garbage bins during the pandemic lockdowns. ($1 = 0.8595 euros) https://www.reuters.com/business/healthcare-pharmaceuticals/spanish-police-soldiers-track-boars-reinforce-farm-security-amid-swine-fever-2025-12-01/

2025-12-02 06:35

Market expects 89% chance of 25-basis point Fed rate cut in Dec Gold may reach $5,000 early in the new year, analyst says Central banks bought 53 tons of gold in October, WGC says Dec 2 (Reuters) - Gold prices fell over 1% on Tuesday as investors took profits following a six-week high in the previous session, while they awaited key U.S. economic data ahead of the Federal Reserve's policy meeting next week. Spot gold lost 1.1% to $4,186.89 per ounce by 1:43 p.m. ET (1843 GMT). Sign up here. U.S. gold futures for February delivery settled 1.3% lower at $4,220.80 per ounce. "It's probably just a little bit of profit taking ... the market's biggest focus of late has been rate cut expectations and those remain pretty steady," said Peter Grant, vice president and senior metals strategist at Zaner Metals. "We are in a continuation pattern that will eventually lead to an upside breakout and I still like $5,000 gold early in the new year." Recent data pointing to a gradual cooling of the U.S. economy, coupled with dovish signals from Fed policymakers, has bolstered market expectations for a 25-basis-point rate cut at the U.S. central bank's meeting next week, with traders pricing in an 89% probability of the move . Investors are also eyeing November ADP employment report on Wednesday and the delayed September Personal Consumption Expenditures (PCE) Index, due Friday, which is the Fed's preferred inflation gauge. Lower interest rates typically benefit non-yielding gold. Central banks bought 53 tons of gold in October, up 36% month-on-month and the largest monthly net demand since the start of 2025, according to the World Gold Council. Silver retreated from its record high of $58.83 hit on Monday, easing 0.1% to $57.90 per ounce. It has risen over 100% year-to-date. "There were no new reasons for the recent price jump (in silver). However, the known reasons still apply, namely tight supply, which is reflected in low inventories on the Shanghai exchanges," Commerzbank said in a note, adding it expects a further, albeit moderate, price increase to $59 in the coming year. Platinum slipped 2% to $1,624.90 and palladium gained 2.3% to $1,456.86. https://www.reuters.com/world/india/gold-prices-ease-firmer-yields-us-data-focus-2025-12-02/

2025-12-02 06:28

NEW DELHI, Dec 2 (Reuters) - Russian President Vladimir Putin starts a two-day visit to India from Thursday, pitching for more sales of Russian oil, missile systems and fighter jets in a bid to restore energy and defence ties hit by U.S. pressure on the South Asian nation. Russia has supplied arms to India for decades, with New Delhi emerging as its top buyer of seaborne oil despite Western sanctions after Moscow launched its invasion of Ukraine in February 2022. Sign up here. But India's crude imports are set to hit a three-year low this month, after the tightening of sanctions on Russia that coincide with its growing purchases of U.S. oil and gas. On his first visit in four years to the Indian capital for a summit with Prime Minister Narendra Modi, Putin will be accompanied by his defence minister, Andrei Belousov, and a wide-ranging delegation from business and industry. "Putin's visit offers an opportunity for Delhi to reassert the strength of its special relationship with Moscow, despite recent developments, and make headway in new arms deals," said Michael Kugelman of the Atlantic Council think tank. "India-Russia summits are never solely optics-driven affairs, given the substance of the relationship," added Kugelman, a senior South Asia fellow at the Washington-based body. New initiatives were likely to be announced, he added, even if they mostly related to low-hanging fruit in ties, he said. THE TRUMP FACTOR But Indian officials worry that any fresh energy and defence deals with Russia could trigger a reaction from U.S. President Donald Trump, who doubled tariffs to 50% in August on Indian goods, as punishment for New Delhi's purchases of Russian crude. Ahead of Putin's visit, officials of both sides held talks in areas from defence to shipping and agriculture. In August, they agreed to launch talks for a free trade deal between India and the Russian-led Eurasian Economic Union. They are also in talks to expand their partnership in civilian nuclear energy, Indian analysts have said. Putin's delegation includes the chief executives of dominant Russian lender Sberbank (SBER.MM) , opens new tab and state arms exporter Rosoboronexport, as well as the heads of sanctioned oil firms Rosneft and GazpromNeft (GZNPI.MM) , opens new tab, an industry source with direct knowledge of the matter said. In the talks, Moscow is likely to seek India's help to get spares and technical equipment for its oil assets, as sanctions have choked access to key suppliers, said the industry source and a separate Indian government source. The spoke on condition of anonymity as the matter is a sensitive one. India is likely to pitch for the restoration of a stake of 20% for state gas explorer ONGC Videsh Ltd in the Sakhalin-1 project in Russia's far east, the government source added. India expects a U.S. trade deal by year end, as most of its refiners have stopped buying Russian oil, though widening discounts are now drawing in some state refiners. Indian Oil Corp (IOC.NS) , opens new tab has placed orders from non-sanctioned Russian entities for December and January loading while Bharat Petroleum Corp (BPCL.NS) , opens new tab is in advanced stages of placing an order, sources at the two companies said. The sources sought anonymity as they were not authorised to speak to media. INDIA LOOKS TO RUSSIA FOR DEFENCE SPARES Unlike crude, India does not plan to freeze defence ties with Moscow anytime soon as it requires continued support for the many Russian systems it operates, Defence Secretary Rajesh Kumar Singh said last week. Russian Sukhoi-30 jets make up the majority of India's 29 fighter squadrons and Moscow has also offered its most advanced fighter, the Su-57, which is likely to figure in this week's talks, said two Indian officials familiar with the matter. India has not yet made a decision on buying the jet, said the officials, who spoke on condition of anonymity. But India is likely to discuss buying more units of the S-400 air defence system, Singh said last week. It now has three units, with delivery of two more pending under a 2018 deal. Recent U.S.-Russia talks to ending the Ukraine war, could help make it easier for Indian officials to engage with Moscow, said Harsh Pant, head of foreign policy studies at India's Observer Research Foundation think tank. But ties continue to appear strained, he said. "A large part of the trading relationship was based on energy, which is now losing traction under the threat of sanctions from the United States," he added. "And at the end of the day, only defence remains, which continues to bind the two together." (This story has been refiled to add the dropped word 'expects' in paragraph 15) https://www.reuters.com/business/aerospace-defense/russias-putin-seeks-boost-energy-defence-exports-with-india-visit-2025-12-02/

2025-12-02 06:21

COPENHAGEN, Dec 2 (Reuters) - Wind turbine maker Vestas (VWS.CO) , opens new tab will double production capacity at its onshore blade factory in Poland to address increasing demand across Europe, hiring more than 300 workers, the Danish company said in a statement late on Monday. The expansion will add a second production line to make blades for Vestas' V172-7.2 MW turbine, which will mainly serve the growing German market, a spokesperson told Reuters. Sign up here. Vestas took over the blade factory in Goleniow from LM Wind Power in September. Germany installed 2.2 gigawatt (GW) of onshore wind in the first half of 2025, up 67% on the year, according to industry group WindEurope. Germany is expected to add 5.1 GW of onshore wind capacity for the full year, making it Europe's largest market. Vestas now operates 10 plants across Europe and employs around 2,300 people in Poland. https://www.reuters.com/sustainability/climate-energy/vestas-expands-poland-plant-meet-rising-european-demand-onshore-wind-turbines-2025-12-02/