Oil giant Royal Dutch Shell is to enter a UK government-sponsored race to build a carbon capture and storage plant in Britain.

Detroit-based automaker General Motors (GM) has announced that its new Chevrolet Volt plug-in hybrid is expected to achieve at least 230 miles per gallon.  The company has said that the Volt, which is expected to go into production late next year, will be able to travel a distance of up to 40 miles from a single battery charge.  The car will have a dual engine, with the gas engine producing the energy to re-charge the battery once the original charge has run out.

Support services and building firm Interserve has overcome challenging trading conditions in the private sector to post a 19 per cent rise in its first half profits.

US aircraft firm Boeing has won a $1.2 billion order to supply 15 Chinook heavy-lift helicopters to the Canadian armed forces.  Chicago-based Boeing expects to deliver the twin-engine CH-47F helicopters between 2013 and 2014. They will be built at the Boeing Rotorcraft Systems facility in Ridley Township, Pennsylvania.

BAE Systems, EuropeÔÇÖs largest defence company, has won a ten-year contract worth ┬ú370 million to maintain and develop torpedoes for the Royal Navy and the Royal Air Force, it announced yesterday.

Power generation company LS Power is buying nine US power plants from one-time partner Dynegy for around $1 billion.

Abu Dhabi investment firm Aabar has announced it has signed what it calls ÔÇ£a potential landmark dealÔÇØ with the Algerian government to develop a network of vehicle and engine manufacturing plants in the country.
 

Libya's National Oil Corporation and Indian mobile phone company Essar are among the bidders for oil giant ShellÔÇÖs UK refinery, according to reports.

Comcast, the countryÔÇÖs biggest cable TV operator, reported a jump in second-quarter profits of 53 percent, it said yesterday.  The Phildelphia-based firm said that profits were boosted by higher prices and increased spending by consumers on internet and video services such as HD packages. The company said it focused its marketing efforts on attracting new cable television customers in the run-up to the digital transition on June 12. Lower capital investment and cost controls also contributed towards the better results,┬áComcast said.

The prime ministers of Turkey and Russia have signed a number of agreements regarding co-operation on major oil and gas projects.