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Russian natural gas monopoly OAO Gazprom expects to produce 14.4 billion cubic meters of natural gas in 2008 from its Yuzhno-Russkoye gas field, which is expected to be the source for the Nord Stream pipeline project to Europe.

Oil gave back some of yesterday's gains as the dollar remained steady and traders took in news that flows from an Iraqi oil pipeline that was attacked yesterday was back near normal levels.

StatoilHydro said it will increase its spending on research and development in 2008 to 2.14 bln nkr, up 20 pct on the combined expenditure of Statoil and Norsk Hydro in 2007.

Saipem has been awarded the contract for the Umbilicals, Flowlines, Risers and oil Loading Terminal activities for the subsea development of Usan deepwater field.

India's federal government Friday said it will issue INR92.97 billion ($2.3 billion) worth of special bonds to state-run oil marketing companies to compensate them for selling fuel at discounted prices.

Earlier in the day, the rate of Iraq's crude oil exports from the terminal at Basra was still below normal levels, a pair of shipping agents said.

Boeing Co. said Friday it reached an agreement to buy Vought Aircraft Industries' interest in Global Aeronautica LLC, a South Carolina-based fuselage sub-assembly facility for Boeing's 787 Dreamliner. Financial terms of the deal were not disclosed. (BA)

Linear retail Properties LLC this month purchased three shopping centers -- two in Massachusetts and one in New Hampshire -- for nearly $27.5 million.

Converted Organics Inc., which produces natural soil fertilizer through organic food waste recycling, has signed on Maritime Turf Supplies Ltd. as the exclusive distributor of the company's fertilizer products in Eastern Canada, the company said on Friday.

Coppertree Ltd., a private firm that manages affairs for wealthy families, announced Friday it is establishing a New York office and appointed Catherine Kinsey as president and a principal shareholder to be based there.