Ukraine stands by gas importer
Ukraine is to retain RosUkrEnergo as the importer of gas from Russia, Yuri Boiko, the country’s newly appointed Energy Minister, said. The joint venture between Russia’s gas giant Gazprom and two Ukrainian businessmen was criticised after it was named as the middleman in a deal to end a gas price row between Ukraine and Russia that disrupted supplies to Europe.
BP faces delay at Prudhoe Bay field
BP said that it has no schedule for reopening the eastern half of its Prudhoe Bay oilfield in Alaska. The field was shut last week after tests revealed severe corrosion in a pipeline. BP may not be able to attempt to restart part of the eastern field until early September, as first it must submit its plans to the federal Government at least two weeks in advance.
Britain snaps up Chinese companies
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British companies spent $3.5 billion (£1.8 billion) buying Chinese companies last year, according to the accountants Grant Thornton. Foreign companies from 44 countries spent a total of $14 billion buying 266 Chinese companies in the 12 months until the end of June. Although the number was about the same as last time, the value of the deals was nearly 56 per cent higher.
Cable consortium bids for US licences
SpectrumCo, a consortium of America’s largest cable television providers, bid $1.77 billion (£950 million) for seven licences in the ninth round of the US wireless auction, taking its total so far to $1.78 billion for eight licences. Deutsche Telekom’s T-mobile bid $112.5 million in the ninth round for one licence, increasing its total to $277.4 million for 25 licences.