LONDON - A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank Governor Mervyn King said on Saturday.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Rosneft may participate in next Norway license round
MOSCOW (Reuters) - Russia's Rosneft (ROSN.MM) may participate in an upcoming license round for rights to develop fields in Norway's offshore zones in partnership with Statoil (STL.OL) under the terms of a joint exploration agreement signed by the two oil companies on Saturday, Rosneft president said.
"Rosneft has been offered the chance to participate with Statoil in these rounds," Eduard Khudainatov told a briefing after the signing.
Statoil will jointly explore one field in the Russian area of the Barents Sea, which could require up to $1 billion in investment in exploration if its resources were confirmed. Investment in each of three fields to be jointly explored in the Sea of Okhotsk could require $500 million.
Statoil is to pay all costs for exploration, in addition to some historic costs and possible bonuses to the Russian company.
Khudainatov said Rosneft remained open to co-operation with new partners in Russia's Arctic offshore zones and had invited Russian companies to such partnerships as well as foreign oil companies.
He said TNK-BP (TNBP.MM), BP's (BP.L) Russian joint venture, had responded with an expression of interest.
(Reporting by Melissa Akin; Editing by Andrey Ostroukh)
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