Alcoa saw its shares fall 6.3 per cent yesterday after the US metals group said it would be unable to fulfil its alumina supply contracts and downgraded its second-quarter earnings estimates. This is one of the far-reaching consequences of last week's explosion at a key gas processing plant in Western Australia. Several other mining companies in the state, one of the world's most important minerals-producing regions, are also cutting targets for this year following the accident, which has reduced local gas supplies by 30 per cent.

British Energy, the nuclear generator, has rejected the bid approach from Electricit

The struggle for control of TNK-BP is the first big test for Tony Hayward's leadership of BP. Since taking over as chief executive from Lord Browne a year ago, he has focused on reforming the company's structure and operations, to cut costs and raise performance. The threat to BP's future in Russia is forcing Mr Hayward to take on a huge strategic challenge as well. There are good reasons for him to hope that he can achieve at least a qualified success. BP needs Russia but Russia also needs companies such as BP. If Mr Hayward fails, however, BP will face a much darker future.

The government can partly keep crude import bill and prices under control by supporting oil companies in acquiring rigs for exploration of domestic hydrocarbon sources, according to industry body Assocham said. Currently, 70 per cent of India's petroleum, oil and lubricant requirements are met through imports which might go up to 90 per cent by 2010, Assocham said in its paper on 'Indian Oil & Gas Sector: An Overview.'

Rising oil prices is forcing Gulf states to invest in gas production. Some analysts estimate that the cumulative supply shortfall for the six countries of the Gulf Co-operation Council up to 2015 will reach at least 7,000bn cubic feet. To put the number into perspective, according to BP the UK's entire remaining proven gas reserves total just under 17,000bn cu ft. "There is a Middle East regional gas crisis brewing," says Rajnish Goswami at Wood Mackenzie, the Edinburgh-based energy consultancy.

India's decision to join the Turkmenistan pipeline project which is more hazardous than the Iranian channel is puzzling.

TIMES NEWS NETWORK New Delhi: The oil ministry has removed the clouds of uncertainty over continuation of Indraprastha Gas Ltd as the city's sole supplier of CNG (compressed natural gas) for automotive and kitchen uses. The ministry has spiked the sectoral regulator's decision de-recognising IGL's projects in the Capital, saying the Petroleum and Natural Gas Regulatory Board does not have powers to judge entities set up through government orders before it came into existence.

China Natural Gas Inc is speeding up its expansion plans and looking to a Nasdaq listing as soaring crude oil prices make cleaner energies more attractive, Chief Financial Officer Guo Lihong said on Monday. The provider of compressed natural gas (CNG) and liquefied natural gas (LNG) believes China's efforts to protect its environment and reduce its reliance on coal augurs well for its growth prospects, she told a visiting group of U.S investors. "We aim to become China's No.1 in terms of CNG filling stations within the next two or three years," Guo said.

The debate on the Iran-Pakistan-India (IPI) gas pipeline has generated more heat than light. There has been a wide chasm between rhetoric and reality, with little informed public debate. It is indisputable that the booming but energy-starved Indian economy needs to tap every possible source of power that is economically viable, with its security and continuity suitably guaranteed.

The 1.5 million people left destitute by Burma's cyclone are in increasing danger of disease and starvation, experts said on Wednesday, but its ruling junta said no to a Thai request to admit more aid workers. Thai Prime Minister Samak Sundaravej met his Burma counterpart Thein Sein in Rangoon for 2 hours trying to convince him the former Burma should open up for international relief operations and ease visa rules for aid workers.