Europe

Centrica, the owner of British Gas, is to almost double its stake in the Norwegian Stratfjord field in a deal that will boost its expansion efforts in the North Sea.

The acquisition, worth £144 million, will increase Centrica’s oil and gas reserves by 29 million barrels of oil equivalent. It will provide the UK-based company with an additional 172 billion cubic feet equivalent of gas and oil reserves, and an incremental 70 million cubic feet per day of natural gas and oil production in 2010.

British aero engineer Hampson Industries has won its largest ever tooling contract, worth $53 million (£34 million).

The contract is to design and manufacture lightweight mandrel tools for carbon fibre lay-up for a major commercial aerospace programme.

Although the West Midlands-based company did not name the customer, it is widely believed to be Boeing, the world's second largest commercial plane maker.

Trading electronically makes great strategic sense for buyers and suppliers alike; but technical complexity can be a barrier to realising the benefits of enhanced supply chain visibility, as David Grosvenor explains.

The priority of most private investors is to see a healthy return on their outlay—with ethical considerations coming second. But the two do not have to be mutually exclusive, as Becky Done finds out from Lawrie Smith, co-founder of ethical investment company Greenleaf Global.

Celebrating its 20th anniversary this year, The Lanesborough is renowned for quality and service. Front of house manager Michael Naylor-Leyland explains to Gay Sutton how this enviable reputation has been achieved.

The Brussels-based EFQM, formerly the European Foundation for Quality Management, has had a busy 12 months—and its schedule for the coming year doesn’t look to be any less hectic either. Becky Done finds out what changes the Foundation has made in order to reflect today’s business environment, and how it is looking ahead to tomorrow.

Cluff Gold brought two gold mines to production during 2008 and is now poised to develop a third, much larger prospect. Chairman Algy Cluff talks to Gay Sutton about the rocky road to success.

Russia and Norway ended a 40-year dispute yesterday when they signed an Arctic border treaty, opening up the region to offshore oil and gas development.

Russia’s president Dmitry Medvedev and Jens Stoltenberg, the premier of Norway, attended the signing in Murmansk, a Russian Barents Sea port near the Norwegian border.

The disputed territory in the Barents Sea covered 175,000 square kilometres—roughly half the size of Germany—between the Novaya Zemlya archipelago on the Russian side and the Svlabard archipelago on the Norwegian side.

London-based miner Rio Tinto has said it will spend £518 million expanding its diamond operations.

The mining group’s diamond business is often overlooked, due to the success of its primary iron ore, copper and coal operations. However, its diamond unit is the third-largest in the world behind industry leaders De Beers and Alrosa.

Rio Tinto’s diamond division is based on three mines, including Argyle in the north-western desert area of Australia.

French industrial gases company Air Liquide has said it will invest $450 million in two global-scale hydrogen production units to supply Saudi Aramco with hydrogen for its planned Yanbu refinery.

Saudi Aramco's refinery will be located in Yanbu Industrial City, on the west coast of the kingdom. The new incorporated Red Sea Refining Company will process 400,000 barrels of heavy crude per day when the facility is completed in 2014.

The two hydrogen production units will have a total production capacity of 262 million cubic feet per day.