• BP’s Russian unit, TNK-BP, paid off tax claims for 2002 and 2003, using part of an £800m reserve set aside for settling such bills.
• Shares of Cairn Energy, an Edinburgh-based company that drills for oil and gas in South Asia, had their biggest gain in five months amid speculation it may get a bid for its Indian business before the unit’s initial share sale in December.
• Irish police with nightsticks charged protesters at the site of a proposed natural-gas terminal Royal Dutch Shell wants to build in Ireland.
• Biofuels, a British producer of fuel from vegetable oil, said its profit margins are narrowing because of higher raw-material costs.
• Divers in the North Sea, who help establish and maintain oil and gas platforms, accepted a pay offer after a 10-day strike and will return to work “immediately”, the divers’ union said.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/11/11/cxbloom11.xml
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