■ BANKING
Northern Rock in talks
Stricken British mortgage lender Northern Rock said yesterday that it was in preliminary talks with a number of potential buyers or investors, but did not name the interested parties. "Northern Rock confirms that it is working with a number of potentially interested parties regarding proposals for a variety of potential transactions as well as developing further options to explore with new parties as part of its review of all strategic options," the bank said. "Northern Rock notes that this process and the discussions it is having are at a very early stage and that the proposals it has received so far are preliminary in nature."
■ ENERGY
CNOOC pushes Bohai Bay
CNOOC Ltd is aiming to make Bohai Bay in northern China the country's second-largest oil field by production within five years, company officials said. The offshore hub, which had output of 98.1 million barrels of oil equivalent last year, must double production if it is to overtake the Shengli oil field in eastern China, said Chen Bi, vice president of CNOOC and general manager of the Tianjin unit. The jump in output at Bohai would be achieved via a combination of new oil fields coming on stream, notably the Peng Lai field from next year, and enhanced output techniques. CNOOC expects volumes to rise to 99 million barrels of oil equivalent this year before the pace of growth accelerates.
■ AVIATION
Airbus plant attracts interest
Potential buyers are visiting an Airbus plant in Laupheim, Germany, and the European plane maker should decide this year which will get the site, a press report said yesterday. The Financial Times Deutschland cited industry sources as saying 14 German and foreign firms had expressed interest in the facility, which produces cabin equipment. Diehl, one of the German suitors, told the Sueddeutsche Zeitung newspaper on Saturday that it was in the running, but boss Herbert Wust added that Airbus had "raised its demands" and that the discussions were difficult. Airbus seeks to sell seven European plants as part of its cost-cutting plan Power8, including three in Germany.
■ AUTOMOBILES
Daimler ready for India
Daimler plans to expand its commercial division to India and Russia, the Financial Times Deutschland reported yesterday, citing Andreas Renschler, a board member of the German automaker. Daimler had picked a partner for its market entry in India after months of talks, the newspaper cited Renschler as saying. "We are currently still negotiating contract clauses and will release details shortly," he said. He also said Daimler planned to build a Mercedes truck in Russia. "We are discussing building a factory for truck assembly," he said. "We will make a final decision by the end of this year."
■ ENERGY
Gaz, Suez outline goals
The to-be-merged energy group of Gaz de France and Suez expects to invest 10 billion euros (US$14.2 billion) a year between next year and 2010, and see its operating profit grow by 10 percent next year, to 17 billion euros by 2010. In a joint statement, the two groups, which aim to merge in the first half of next year, said they also expect growth in dividend per share of 10 percent to 15 percent a year on average between this year and 2010. On Sept. 3, Suez and GDF announced their merger into the world's fourth-biggest energy utility.
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