One of the world’s largest airline parts distributors is poised for take-off to a whole new level, as senior vice president of asset management and operations Alain Berube tells Pamela Derringer.

VAS Aero Services (formerly Volvo Aero Services), now has the freedom and the financial backing to become a one-stop-shop for surplus new and used airplane parts, just as the airline industry has come to recognize the value of what the company has to offer.

Some say that the last great hydrocarbon deposits lie within the Arctic Circle, and if so, it’s going to place extra demands on those extracting them, such as Technip Canada, Alan Swaby learns.

Global gold consumption for 2010 will be higher than 2009 as a result of increasing demand in India and China, sustained global demand for gold investment, and growth in jewelry and industrial demand, according to the World Gold Council.

According to the WGC's Gold Demand Trends report for Q3 2010, published today, demand for gold in the final quarter of 2010 will be driven by the following factors:

Irish oil and gas company Providence Resources has announced new interpretations of old data that suggest that a field off the west coat of Ireland contains as much as 200 million barrels of oil.

Providence’s Spanish Point project is located around 170 kilometres off the west coast of Ireland in the Porcupine Basin. Drilling, at a depth of 400 metres, is expected to begin in 2012, with oil and gas potentially flowing by late 2014 or 2015.

Multi-industry manufacturer SPX Corporation today held an official ground-breaking ceremony to mark the start of construction of its new 53-acre manufacturing campus in the FOHO Economic Development Zone in China.

The planned campus represents a $40 million investment by SPX over the next three years to support the company's business expansion in China and facilitate product localization efforts serving both China and global markets.  

BP has announced the sale of its Southern African forecourt network to Puma Energy, a unit of international commodities trader Trafigura, for $296 million.

BP is selling its interests in forecourts and supply businesses in Namibia, Botswana, Zambia, Tanzania and Malawi. The sales do not include BP's refining and marketing businesses in Mozambique or South Africa.

Angola's state-owned oil company Sonangol will buy a 10 per cent stake in Puma's newly acquired assets.

The “serial entrepreneur” Keith Maxwell, CEO of Spark Energy Gas & Electric, was named yesterday as national winner of Ernst & Young’s Entrepreneur of the Year 2010 in the energy, chemicals and mining category.

Now in its 24th year, Ernst & Young's Entrepreneur of the Year encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.

Volkswagen is devising a plan to take full control of Swedish truckmaker Scania and Germany’s MAN, according to reports.

The German automotive giant is said to be planning to increase its 46 per cent stake in Scania, thereby assuming full control—after which it would then transfer its 29.9 per cent stake in truck and diesel engine group MAN to Soedertaelje, Sweden-based Scania.

The plan was first reported in German weekly magazine Der Spiegel.

It is thought that VW would increase its stake in Scania to between 75 and 80 per cent.

GE intends to purchase 25,000 electric vehicles by 2015 for use in its own fleet and its Capital Fleet Services business—the largest-ever single electric vehicle commitment—to help boost the market for electric vehicle infrastructure development.

GE offers a portfolio of solutions for electric vehicles including charging stations, circuit protection equipment and transformers.

GE will initially purchase 12,000 GM vehicles, beginning with the Chevrolet Volt in 2011, and will add other vehicles as manufacturers expand their electric vehicle portfolios.