Industry - Energy latest news

TORONTO, ONTARIO (MARKET WIRE) InterOil Corporation (TSX: IOL)(AMEX: IOC)(POMSoX:IOC), a Canadian company with operations in Papua New Guinea, today announced the closing of the conversion with Pacific LNG, an affiliate of Clarion Finanz A.G. (collectively, "Clarion"), which was announced on May 6, 2008. As previously announced, InterOil issued common shares to Clarion at a conversion price of $22.65, issuing approximately 2.7 million common shares in exchange for the cancellation of Clarion's U.S.$60 million share of the existing $130 million credit facility. At closing, the principal amount outstanding under this credit

The solar laminate maker turns a profit and gives strong guidance, sparking 43% rise in shares.

Congressman Roscoe Bartlett (R-MD) and 34 other members of the U.S. House of Representatives have introduced H.R. 5984, a bipartisan companion to S. 2821, also known as the Clean energy Tax Stimulus Act of 2008. S. 2821 was introduced by Senators Maria Cantwell (D-WA) and John Ensign (R-NV) and has 43 cosponsors. S. 2821 was included as an amendment to The Foreclosure Prevention Act of 2008 which was approved by a vote of 88-8. House leaders stripped that provision from the bill when it was considered in the House.

A joint venture for the production of crystalline solar cells has been launched by co-investors Centrosolar Group AG and Qimonda AG. The production plant will be established near Porto in Portugal next to the existing semiconductor factory of Qimonda. The facility will have a capacity of approximately 100 megawatts (MW) by the end of 2009.

The joint Russian-Indian power company RusSUNHydro has begun feasibility studies on the possibility of participation in a tender process for a number of hydropower sites in Himachal Pradesh, India.

The oil and gas industry may have figured out how to drill in 10,000 feet of water, but it still hasn't solved what may be its biggest challenge in coming years: finding enough skilled workers.

Democrats are meeting stiff resistance to efforts to rein in speculation on the oil markets as they try to push through a broader energy package ahead of the start of summer driving season.

With gasoline prices setting records virtually every day, Sen. Maria Cantwell, D-Wash., has been pushing for the federal government to keep a closer watch on oil and natural gas trading.

Dominion Virginia Power, a unit of Dominion, which is engaged in the generation of power and distribution of natural gas, has announced that executive vice president and CEO Jay Johnson will retire from the company, effective June 1, 2008.

Suntech Power Holdings, a manufacturer of photovoltaic cells and modules, has signed an agreement with Hanau Energies to supply a 4.5MW building integrated photovoltaic system to a farm located in Alsace, France.