CNOOC wants to

CNOOC wants to buy LNG from RI

JAKARTA: China's CNOOC Ltd. (CEO) is interested in buying 30 million metric tons a year of liquefied natural gas from Indonesia starting in 2010 to meet China's rising energy needs resulting from its robust economic expansion, an Indonesian official said on Monday.

Iin Arifin Takhyan, director general of oil and gas at the Ministry of Mines and Energy, said CNOOC had indicated its interest in purchasing the LNG during a visit by Indonesia's Vice President Jusuf Kalla and a number of senior government officials to China last week to promote investment opportunities here.

"CNOOC will also study the possibility of building an LNG plant in East Kalimantan," Iin told Dow Jones, without elaborating.

Indonesia has agreed to supply 2.6 million tons of LNG a year over a 25-year period from the Tangguh plant in West Papua to China. The plant, to be built at a cost of US$6 billion, will be developed by a consortium led by BP Plc. (BP).-- Dow Jones

;AP; ANPAf..r.. Brief-Germany-Volkswagen VW to cut jobs among 'several thousand' surplus German employees JP/14/Brief

VW to cut jobs in Germany

BERLIN: Volkswagen AG said on Monday it plans to cut its work force in Germany, complaining that its factories have "several thousand" surplus employees, despite rising demand for its cars.

Volkswagen said it would extend an existing early-retirement program to more workers and that others would be offered termination packages to persuade them to leave.

The Wolfsburg-based company, which has agreements with labor unions that rule out firing any workers in Germany until 2011, did not say how many jobs would go or when.

"Despite rising sales, the Volkswagen Group still has considerable over-capacity," a VW statement said. "These measures apply to employees in all areas, including senior managers."

VW suggested the cuts could be made largely at its flagship plant in Wolfsburg, even if it is chosen to produce a new compact sports utility vehicle.-- AP