The West African nation of Ghana is due to pump its first oil today following the discovery of the offshore Jubilee Field three years ago.

A consortium led by UK-based Tullow Oil hopes to produce 55,000 barrels per day increasing to 120,000 barrels in six months, with Ghana expected to earn around $400 million (£254 million) in the first year. Ghana’s government has forecast a boost to the country’s economic growth rate of up to seven per cent in the space of a year—from five per cent to 12 per cent.

The Mansfield City Council has approved an economic development agreement with leading American tool manufacturer Klein Tools for the location of its new Advanced Manufacturing Technology Center (AMTEC) in the city.

The performance-based agreement could result in the creation of 585 jobs and a $76 million investment by the Chicago, Illinois-based company.

The net economic impact to Mansfield has been estimated at more than $7.6 million over the first 10 years, with a $4.5 billion economic impact over 10 years to the State of Texas.

UK chemicals company Yule Catto has agreed to acquire its German rival PolymerLatex for €443 million (£376 million).

PolymerLatex, which makes a range of rubber-based products similar to Harrow-based Yule Catto’s, is currently owned by private equity house TowerBrook Capital Partners.

Under TowerBrook’s ownership, the company built a €60 million plant in Malaysia and created a new R&D facility near Dusseldorf, Germany.

Eagle Oil Holding Company, Inc announced today that it has concluded a new drilling study to further develop the W H Siler Lease in East Texas.

The program will incorporate the new technologies that use "directional" drilling or "radial" drilling being offered as solutions for older field development in the industry. The program is being geared for use in the less developed East side of the field, with startup in mid 2011.

Canadian Solar Solutions Inc., one of the world's largest solar companies, and SkyPower Limited, one of Canada's largest owners and developers of solar energy projects, today announced they have signed an engineering, procurement and construction (EPC) agreement to commission two solar parks with a nameplate capacity of 18.5 megawatts (MW) in Ontario.

Scottish oil services giant Wood Group has announced it is to take over rival PSN in a £600 million deal.

The merger of the two Aberdeen-based firms will create the UK’s biggest oil services company. It will also be Wood’s largest acquisition to date.

PSN, an international energy services company, will merge with Wood’s Production Facilities business to create the brownfield production services provider, Wood Group PSN.

SunPower Corp, a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, is set to expand with a major new corporate operations center in Austin, Texas.

The company announced today the receipt of a $2.5 million investment from the Texas Enterprise Fund and a $900,000 grant from the City of Austin. The new center will create 450 jobs in the region over the next four years, beginning with 115 jobs in 2011.

Balfour Beatty, the UK-based market leading infrastructure specialist, has won a five-year rail renewal contract on the London Underground system.

The contract is to carry out track renewal work, which will include the replacement of ballasted track, points and crossings, including all ancillary signalling and drainage works on the Tube network.

The total value of the work to be carried out by the partnership is £220 million, of which around half will be Balfour Beatty's share.

Algonquin Power & Utilities Corp today announced that Liberty Energy Utilities Co, its regulated utility subsidiary, is to acquire two utilities in New Hampshire from National Grid USA.

The Oakville, Ontario-based utility said Liberty Energy has entered into agreements to acquire all issued and outstanding shares of Granite State Electric Company, a regulated electric utility, and EnergyNorth Natural Gas Inc, a regulated natural gas utility, for a total consideration of US$285 million.