GDF SUEZ, Petronas Sign LNG Deal

GDF SUEZ has entered into an agreement with Petronas LNG Ltd., a wholly owned subsidiary of Petroliam Nasional Berhad (Petronas), the national oil company of Malaysia, under which, GDF SUEZ will supply Petronas LNG with 2.5 million tons of liquefied natural gas (LNG) from August 2012 over a 3.5 year period. The cargoes will be sourced from GDF SUEZ’ LNG portfolio.

This mid-term agreement with Petronas LNG Ltd. confirms GDF SUEZ’ ambition in Asia as one of the core development region for its LNG business, with strong growth prospects and new supply potential. GDF SUEZ is one of the few European utilities able to direct LNG volumes to the Asian markets.

To extend its LNG portfolio supplies in Asia-Pacific, the Group is also developing Bonaparte LNG, an integrated project to build a floating production storage and offloading (FPSO) unit in Australia, with a 2 MTPA capacity.

Gérard Mestrallet, Chairman and CEO of GDF SUEZ, said “This agreement concluded with Petronas LNG confirms GDF SUEZ’ ambition as illustrated by other medium term agreements recently concluded with Kogas for the delivery of 2.5 million tons of LNG between 2010 and 2013, or with CNOOC for the delivery of 2.6 million tons of LNG from 2013 to 2016.”

GDF SUEZ has a diversified portfolio of LNG supplies from Algeria, Egypt, Nigeria, Norway, Trinidad and Tobago and Yemen, representing 16.5 MTPA. The Group is one of the leading LNG players in the world and the main LNG importer in Europe. It operates a fleet of 18 LNG carriers and has a significant presence in regasification terminals around the world. - LNG World News

Oil drops after Osama bin Laden death

Oil prices fell more than 3 percent on Monday, May 2 after U.S. forces killed al-Qaeda leader Osama bin Laden following a decade of military operations across central Asia and the Middle East.

Brent crude futures for June slumped $4.22 to a low of $121.67 a barrel before bouncing back to around $124.40 by 1225 GMT. Last month Brent hit a 32-month high above $127.

U.S. crude slid $1.25 to $112.68.

European futures trading volume was depressed by a public holiday in Britain and several other countries, which may have added to some price volatility, oil brokers said.

Bin Laden's death raised expectations that the risk of attacks by Islamic radicals could decline and tension in the Middle East could ease, bringing lower oil prices.

But analysts said most of the risk premium attached to oil prices was based on the war in Libya, wider unrest in the Middle East and North Africa, as well as increasing global oil demand.

"The fall in price should be short-lived," said Carsten Fritsch, commodity analyst at Commerzbank in Frankfurt.

"Talk that the risk premium should ease due to bin Laden's death is premature. The risk premium is high because of the war in Libya and ongoing unrest in the Middle East, and that is unlikely to change," he added.

"TEMPORARY"

Some political analysts said bin Laden's killing might trigger a violent response by al Qaeda and the Pakistani Taliban threatened attacks against government leaders, including President Asif Ali Zardari, the Pakistan army and the United States.

But oil analysts said it was unlikely the network would succeed in seriously disrupting oil supplies.

The closest al Qaeda has been to hitting the oil industry was in February 2006, when Saudi forces repelled a suicide attack on the Abqaiq oil-processing center, the world's largest.

The U.S. Department of Homeland Security and the FBI have not issued any warning of a credible or imminent threat, but Obama warned Americans to remain vigilant.

Thorbjrn Bak Jensen of Global Risk Management suggested the initial sell-off was unlikely to last.

"We regard the reactions as temporary, as nothing fundamentally new is really on the table. If anything, it might be a good idea to secure oil costs," he said.

The killing of Libyan leader Muammar Gaddafi's son in a NATO air strike over the weekend boosted hopes of a swifter end to the civil war and normalization of oil production sooner rather than later, analysts said.

Saudi Arabia's crude oil output edged back up in April to around 8.5 million barrels per day (bpd) from roughly 8.3 million bpd in March as demand picked up, Saudi-based industry sources said on Sunday.

The dollar strengthened slightly on Monday following last week's slide, deterring investors from piling into commodities this week and triggering a 10 percent plunge in spot silver prices.

Money managers increased their bets on higher U.S. crude oil prices to a combined record level in New York and London in the week to April 26, data from the CFTC showed on Friday, as U.S. prices rose to their highest level since September 2008.

Volatility and uncertainty due to the pan-Arab protests and Libya's conflict have tempered oil trading. The U.S. 30-day average volume was down by nearly 130,000 lots compared with the 250-day average at the end of last week, Reuters data showed. - Reuters

Malaysian O&G poises for multi-year growth story

JP Morgan Securities Research says the Malaysian oil & gas sector is poised for a multi-year growth story, as Petroliam Nasional Bhd refocuses its efforts on domestic oil and gas exploration and production. Its top sector pick is Dialog Group Bhd.

It said on Friday, April 29 the five-year capex plan of RM250 billion (25%-37% higher per annum), represents 6%-7% of GDP per year.

“Being the third largest country in the Asia-Pacific region in terms of oil reserves after China and India, with upstream and downstream oil and gas production and activities contributing more than 18% of GDP,” it said.

JP Morgan Research said this sector is very relevant to Malaysia’s economic and market prospects, particularly with the recent listing of two of Petronas’ subsidiaries – Malaysia Marine and Heavy Engineering Holdings (MMHE) and Petronas Chemicals.

It said the cumulative market capitalisation of the sector (including Petrochemicals) is 11.7% of the 30-stock FBM KLCI, a significant increase from under 1% in 2000.

Under the Economic Transformation Programme (ETP), a 10-year RM1.4 trillion investment programme spanning 2011-2020, RM105.3 billion investments has been identified within the oil & gas sector.

Key areas of focus:

JP Morgan Research said the areas of focus over the next five to 10 years are firstly, intensifying exploration activities (JP Morgan Research estimates Petronas to spend RM16 billion on deepwater development over the next three years).

Secondly, the development of small fields (estimated development cost of RM65 billion and thirdly, enhanced oil recovery (estimated cost of RM68 billion) and 4) development of oil storage hubs. There is a lack of storage capacity within Singapore and Malaysia where the two countries can emulate the Amsterdam-Rotterdam-Antwerp model to cater for rising oil demand within ASEAN (590 million population)/Asia (three billion population).

It added that the world's largest tank farm owner Vopak recognises the opportunities, teaming up with Dialog to build the RM5 billion Pengerang deepwater terminal project.

Key sector re-ratings:

JP Morgan Research said the key sector re-ratings are from: 1) announcement of three more marginal field risk service contracts by 2Q, 2) awards of deepwater offshore fabrication contracts (long overdue for MHB), 3) commencement of Dialog’s RM5 billion Pengerang deepwater terminal, and 4) potential M&As.

Its top sector pick is Dialog Group Bhd (Overweight, Target Price RM3) as it benefits from development of marginal fields and the RM5 billion investment in the Pengerang deepwater terminal project.

“Our price target is raised from RM2.80 to RM3 as the EIA studies for Pengerang has been secured. Marginal oil fields contracts and additional 350,000 m3 of capacity at Tanjung Langsat is not in the price, in our view,” it said.

The research house was Neutral on MMHE (Target Price:RM6) as it believes the positive news is largely in the price. Its sum-of-the-parts based September 2011 target price of RM6 equates to 25.4 / 25.4 times FY11E/12E P/E and 4.4 times / 3.8 times FY11E/12E P/B.

It is maintaining its Overweigh on Petronas Chemicals (Target Price: RM7.80), leveraged to higher oil prices as well as a key beneficiary to more Petronas investments – translate to more feedstock available for future growth. It said Kencana and SapuraCrest were also potential beneficiaries.

Pressure rises on Putrajaya over Lynas plant

Civil groups and the public have increased their protests against the setting up of a rare earth plant in Pahang and Perak

As the federal government delays announcing an independent review panel into the controversial Lynas rare earth refinery in Pahang, another environmental group has joined the chorus for its halt.

In a media statement today, Sustainable Development Network (Susden) of Malaysia president Muhammad Sha’ani Abdullah questioned the Barisan Nasional (BN) government on its sloppy approval of the RM700 million plant being built in Gebeng.

“The question which comes to mind is how such investment and construction application were approved without a rigorous examination,” asked Muhammad Sha’ani, who is also a member of the Human Rights Commission of Malaysia (Suhakam).

“Indeed how the Environmental Impact Assessment (EIA) was done and did it not trigger the authorities to investigate in details these concerns,” he added, and condemned Putrajaya for its “indifference against nature and the well-being of Malaysians”.

He pointed to the disastrous Asian Rare Earth (ARE) refinery in Ipoh which has been blamed for the rise of cancer and birth defects in the area some 20 years ago, due to radiation pollution and toxins leaching into the ground.

Susden Malaysia also expressed alarm over the government’s decision to limit the review panel’s study to one month, despite strong opposition to the Australian mining company’s controversial RM700 million plant.

“A one-month review on health and safety aspects is, to us, a red herring and a means to tire down as well as side track the citizen’s protests,” he said.

“We are deeply concerned that the said independent study only came about after the initiatives from the citizens, where only then an operating license will be approved,” he added.

Last week, International Trade and Industry Minister Datuk Seri Mustapa Mohamed announced Lynas would be barred from shipping the ore — said to contain low-levels of radioactive thorium — into the country pending the review board’s report on the health, safety and environmental impact to the state.

Lynas can continue building its plant but it will not get a pre-operating license until the month-long independent review is complete, Mustapa added.

The Sydney-based company, however, said the review panel will not slow the start-up of its rare earths refinery, scheduled for September.

The Pahang Bar has called for a year-long review of the plant.

Susden Malaysia urged the government to start acting more responsibly and be transparent by providing full disclosure on the issue of Bukit Merah and Lynas Malaysia so that citizens are informed, and gelling all the different government agencies dealing with approval guidelines as well as monitoring and safety standards.

The non-government organisation also wants the independent review panel to include all stakeholders and table its findings before the public.

“Our economy and development is built on our greatest treasure our natural resources and our people. This failure to ensure a sustainable path is not development but a backlash,” it said.

The rare earths industry is key to a global switch to cleaner energy — from batteries in hybrid cars to magnets in wind turbines.

But mining and processing the metals causes environmental harm that even China, the world’s biggest producer, is no longer willing to bear.

China’s rare earths industry produces more than five times the amount of waste gas, including deadly fluorine and sulphur dioxide, than the total flared annually by all miners and oil refiners in the US, according to a Bloomberg report

Civil groups have stepped up their protests against the plant, including marching on Parliament while in session, prompted by radiation leakages from Japan’s nuclear power plants last month following a massive earthquake and tsunami. - TMI

Exxon and Shell profits surge on higher oil prices

Exxon Mobil Corp and Royal Dutch Shell Plc reported significantly bigger first-quarter profits and beat analysts' forecasts, helped by high oil prices and strong refining margins.

Profits for the world's biggest oil producers have surged as oil prices moved above $100 per barrel in the first quarter on unrest in the Middle East and Africa and growing global demand for energy.

Those profits come as U.S. oil companies face growing criticism for tax breaks they receive for pumping oil, even as the retail gasoline prices continue to spiral higher, reaching an average of $3.886 per gallon, up 35 percent a year ago, according to travel group AAA.

Exxon, the world's most valuable publicly listed company, posted a 69 percent increase in earnings to $10.65 billion, its biggest profit since the third-quarter of 2008, when oil prices last traded above $100 per barrel.

Alone among its Western peers, Exxon recorded an increase in production in the quarter, notching a 10 percent rise from a year-earlier to 4.82 million barrels of oil equivalent per day (boepd), helped by its takeover of U.S. natural gas company XTO last year.

Shell's earnings rose 22 percent to $6.9 billion, although asset sales pressured its oil and gas output down 3 percent to 3.50 million boepd.

Still, that decline was more modest than the 11 percent drop that BP Plc reported on Wednesday and 7 percent drop in ConocoPhillips's output.

BP has been selling assets to pay the more than $40 billion in liabilities it racked up from the massive oil spill in the Gulf of Mexico last year, while Conoco had been shedding assets to pare its debt load.

GASOLINE HEATS UP

Fatter profit margins at Exxon and Shell refineries that process crude oil into gasoline, diesel fuel and other products also helped their quarterly earnings, but Exxon mounted a robust defense aimed at distancing itself and the industry from rising gasoline prices.

A company executive pinned the blame for high crude prices on a weak U.S. dollar, unrest in the Middle East and growing demand from countries like Brazil and China.
"During the first three months of this year, for every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents," Exxon executive Ken Cohen told reporters on a conference call.

"Compare that to the 40 to 60 cents per cents per gallon that went from gasoline consumers to the government (state and federal) in gasoline taxes," he said.

LNG BUBBLES UP

Shell, the largest shipper of liquefied natural gas, also benefited from higher LNG prices following the Japanese earthquake, which was expected to lead to higher LNG demand in that country as nuclear power is scaled back.

That LNG strength, plus a number of large projects coming on stream this year, sparked hopes that Shell could join Exxon and Chevron in raising its dividend payments to shareholders.

Exxon raised its second-quarter payout 7 percent on Wednesday, while Chevron boosted its dividend 8 percent.

Chevron is due to release its quarterly earnings on Friday.

Exxon also benefited from a jump in earnings from its chemicals arm, which recorded $1.5 billion in profits in the quarter. The company is the second-largest U.S. chemicals maker behind Dow Chemical.

"It looks like chemical was really strong," Phil Weiss, oil analyst at Argus Research, said about Exxon's earnings. "And production came in on the higher side relative to my expectations, especially gas."

Shares of Shell rose 0.7 percent to 2325.5 pence on the London Stock Exchange, while Exxon shares were off 0.5 percent at $87.35 on the New York Stock Exchange.

U.S. oil and gas companies Apache Corp and Occidental Petroleum Corp also reported earnings that topped Wall Street forecasts, lifting their share prices.

Perak cancels rare earth MoU

File photo of a skip loader at work at the site of a rare earth metal mine in Nancheng county, China

Bowing to public pressure, the Perak government has rescinded its Memorandum of Understanding with Hong Kong’s CVM Minerals Limited with immediate effect.
The Perak State Development Corporation (PSDC), the state’s investment arm, made the announcement in a short email statement to the media tonight.

“On the MoU between PSDC and CVM Minerals Ltd for the proposed rare earth project, it is to be informed that both parties have cancelled and ended the MoU with immediate effect as the state government has decided not to issue any permit, licence or land approval for any rare earth project in Perak,” PSDC chief executive officer Datuk Samsudin Hashim said in the statement.

The decision comes amid cries of outrage from opposition lawmakers over the state’s plan for such a project, even as controversy continues to rage over a similar effort in Gebeng, Kuantan.

Perak Pakatan Rakyat (PR) lawmakers threatened this morning to hold a street protest against the proposed project if the state refused to rescind the agreement.

The leaders said they would mobilise the town folk of Bukit Merah and Perak citizens in a massive protest to demand a stop to the project.

It was reported on Wednesday that the Perak government had entered into an agreement with CVM Minerals allowing it to explore and mine for rare earth in Bukit Merah.

In a filing to the Hong Kong Stock Exchange on April 18, CVM Minerals announced it had entered into the MoU with the PSDC to carry out the project in Bukit Merah.

According to state PR representatives, the announcement had triggered shock among Bukit Merah folk, many of whom are still sore over the deaths that followed the country’s first rare earth plant.

Bukit Merah was the site of Malaysia’s last rare earth plant 20 years ago, which is still undergoing a massive RM300 million clean-up. The Japanese-owned Mitsubishi Chemical’s Asian Rare Earth (ARE) plant has been linked to eight cases of leukaemia, seven resulting in death.

Speaking to The Malaysian Insider shortly after the news hit the headlines, Perak Mentri Besar Datuk Seri Dr Zambry Abd Kadir denied any knowledge of such an MoU and expressed disapproval that his consent had not been sought.

He also said that any rare earth project in the state would be subject to the same standards required by the federal government that recently put Gebeng’s Lynas Corp plant on ice after public outcry over potential radiation pollution.

The PSDC immediately clarified yesterday that its MoU with CVM Minerals was merely to allow the firm to conduct feasibility studies on the viability of mining for rare earths in the area.

Samsudin said in a statement that the MoU had a six-month deadline and would be automatically cancelled should the company’s intention fail to receive approval from any local authority or if the project is not viable.

He also admitted that the matter was still being studied and the state government had not issued any approval for the project.

“As such, the issue of environmental pollution does not arise at this point. Both parties are aware of this and will prevent any involvement of such pollution arising from activities that could cause these effects,” he said.

Samsudin had also pledged that the PSDC would seek input from all quarters over development plans for the state’s minerals industry, particularly covering the aspect of environmental concerns, the potential of the minerals mined and changes in technology.

“At this stage, PSDC is not bound by any financial or environmental risks seeing as we are only at the stage where the project is being studied,” he said.

China to Restrict Rare Earths, Metals Projects

China has listed all new rare earths, minor metal and some base metal smelting projects as restricted, reiterating its plan to curb capacity and protect the environment.

Expansion of existing smelting and exploration operations has also been restricted, and include molybdenum, antimony and tin, the National Development and Reform Commission said in a statement today, without elaborating. Aluminum smelting was listed as restricted as well as processors of less than 100,000 metric tons per year of crude copper and zinc.

China has been curbing domestic output growth and exports of rare earths and minor metals to conserve resources and protect the environment, tightening global supplies. The government said this month it will immediately suspend approval of new aluminum projects as the world’s biggest producer and consumer of the metal faces overcapacity.

The government last month extended a ban on exploring for rare earths, tungsten and antimony and opening new mines, while raising production limits for existing projects. Rare earths -- 17 chemically similar metals -- are used in hybrid cars and wind turbines, and tungsten is used to toughen steel for machine tools and antimony is used in batteries.

There are 23 aluminum projects with a total capacity of 7.74 million tons being planned now, and if they are all built and put into use, capacity will be more than 30 million tons by the end of 2015, the Ministry of Industry and Information Technology said April 20. This would be a “huge waste” of resources and capital, it said

Lynas: Penduduk mahu suara dalam panel bebas

Penduduk sekitar Kuantan yang membantah pembinaan loji pemprosesan nadir bumi mahu wakil mereka dalam panel bebas yang dibentuk kerajaan bagi mengkaji projek kontroversial bernilai RM700 juta itu.

Minggu lalu, Putrajaya mengumumkan satu panel bebas akan ditubuhkan bagi menjalankan kajian terhadap aspek kesihatan dan keselamatan loji itu ekoran kebimbangan ia akan mencetuskan ancaman radioaktif.

Bagaimanapun kumpulan yang dinamakan “Selamatkan Malaysia, Hentikan Lynas” memberitahu The Malaysian Insider bahawa orang ramai tidak dapat diyakinkan jika panel bertindak sebagai seolah-olah urusan tertutup tanpa membabitkan suara penduduk.

Pengerusinya Vincent Jiam juga menggesa Lynas Corporation agar menghentikan kerja-kerja di loji tersebut memandangkan publik berpandangan bahawa operasinya akan diteruskan memandangkan apa yang hendak dilakukan oleh kerajaan tidak lebih daripada kerja perhubungan awam.

“Ia seolah-olah mereka sudah tahu keputusannya. Apa yang masyarakat katakan selama ini tidak diambil kira dan akhirnya masih berpegang kepada keputusan yang sama.

“Publik hanya akan mempercayai proses kajian ini sekiranya mereka menjadi sebahagian daripada panel,” katanya.

Ahli Parlimen Kuantan Fuziah Salleh juga berkata beliau telah meminta agar diadakan perbincangan dengan Kementerian Perdagangan Antarabangsa dan Industri mengenai pembenukan panel bebas itu.

“Saya telah hantar surat kepada menteri pada hari Isnin (kelmarin). Saya masih menunggu pengesahan lantikan dan saya bersedia bila-bila masa minggu ini,” kata Naib Presiden PKR itu.

Minggu lalu Menteri Perdagangan Antarabangsa dan Industri Datuk Seri Mustapa Mohamed berkata, panel itu akan dilantik “dalam beberapa hari” untuk mengkaji loji pemprosesan nadir bumi yang dilakukan oleh syarikat Australia itu di Gebeng dekat Kuantan.

Beliau menegaskan tiada lesen praoperasi akan dikeluarkan kepada Lynas dan tiada bahan mentah akan diimport ke Malaysia dari Australia sehingga Putrajaya dan kerajaan negeri Pahang memutuskan hasil kajian itu.

Bagaimanapun Lynas, memutuskan untuk meneruskan pembinaan loji pemprosesan itu sambil menyambut baik penubuhan panel bebas itu.

Lynas menjangkakan akan menerima lesen praoperasi daripada Lembaga Pelesenan Tenaga Atom (AELB) September ini, yang mana ia akan diperbaharui dalam tempoh tiga tahun.

“Selamatkan Malaysia, Hentikan Lynas” juga mahu wakil mereka dilantik dalam panel bebas itu sebagai pemerhati kajian tersebut.

“Kami mahu pakar kami bagi memastikan keseluruhan kajian itu dilakukan dengan telus,” kata Jiam.

AELB berkata panel itu terdiri daripada lima hingga tujuh orang pakar.

“Mereka diiktiraf Agensi Tenaga Atom Antarabangsa (IAEA),” kata Ketua Pengarah Raja Datuk Abdul Aziz Raja Adnan, merujuk badan antarabangsa itu dengan Pertubuhan Bangsa-bangsa Bersatu dalam hal-hal radioaktif.

Pencinta alam sekitar dan penduduk Kuantan mempersoalkan kesan sisa radioaktif yang dihasilkan dan pembinaan loji itu, bimbang akan mengulangi kejadian sama di Bukit Merah, Ipoh yang telah mencatatkan lapan kes leukaemia dengan tujuh kematian.

Selepas mendapat tentangan yang hebat ekoran kadar radiasi pada 1992, loji pemprosesan dibersihkan dengan kos melebihi RM300 juta.

Tekanan itu juga menyebabkan pemimpin MCA Pahang mahu satu kajian dilakukan sebelum loji itu mula beroperasi pada September.

Lynas menjangkakan ia akan mendapat keuntungan sehingga RM8 bilion bermula 2013 dari hasli nadir bumi yang boleh digunakan untuk mengeluarkan produk berteknologi tinggi seperti telefon pintar, kereta hibrid dan bahan letupan.

Kencana wins RM208m Kebabangan contract

Kencana Petroleum Bhd has secured a RM208 million contract for the fabrication of a substructure for the Kebabangan northern hub development project off the coast of Sabah.

In an announcement to Bursa Malaysia yesterday, the country’s most profitable offshore fabricator said its unit Kencana HL Sdn Bhd had been awarded the project by Kebabangan Petroleum Operating Company (KPOC).

Petronas Carigali has a 40% stake in KPOC, while Shell Energy Asia Ltd has 30% and ConocoPhillips Sabah Gas Ltd has 30%.

“Under the contract, KHL is to undertake the construction engineering, procurement, fabrication, inspection, testing and commissioning, loadout and seafastening (EPC),” it said.

Year-to-date, Kencana has secured contracts of about RM539 million. Earlier this year, it had secured two contracts from UK-based Petrofac (M) Ltd, valued at RM115 million and RM216 million.

It had also secured a Petroliam Nasional Bhd contract worth an estimated US$800 million (RM2.39 billion) with SapuraCrest Petroleum Bhd and Petrofac in January this year. Kencana Energy has a 25% stake in the joint-operating agreement.

With regard to this latest contract win, Kencana said it was a one-off contract and was expected to be delivered to KPOC within 3Q12.

It added that the contract would start contributing positively to its bottom line from this fiscal year.

Kencana’s shares gained one sen to RM2.68 yesterday with 2.74 million shares traded.

On Monday, Sime Darby Bhd announced that its unit Sime Darby Engineering Sdn Bhd was awarded a RM1.15 billion contract to fabricate KBB topsides for the Kebabangan northern hub development project by KPOC. - Edge

World Remembers Chernobyl Blast

Ukraine's President Viktor Yushchenko lays flowers at a memorial monument of Chernobyl victims, as the world marks 20 years since the worst civil nuclear disaster in the history of mankind.

Ukraine commemorated Wednesday the twentieth anniversary since Chernobyl's explosion, the world's worst nuclear disaster.

The blast was marked by tolling bells and a minute's silence at 0123 local time when the alarm was set off. The April 26, 1986, explosion at Chernobyl's reactor No 4 spewed radiation across much of northern Europe over a 10-day period.

President Viktor Yushchenko visited the site and met some of the people who worked at the plant and those who risked their lives in the accident.

The accident happened at one of four reactors at the Chernobyl nuclear power plant, 110km north of the capital, Kiev.

It is still unclear how Bulgaria was affected by the fallout as right after the Chernobyl explosion Bulgarian authorities followed Soviet orders and refused to admit anything out of the ordinary had occurred.

Official UN figures predicted up to 9,000 Chernobyl-related cancer deaths. But a Greenpeace report released last week estimated a figure of 93,000. Greenpeace said other illnesses could bring the toll up to 200,000.