Energy Roundup: StatoilHydro Names Execs, China Stimulus Good for Oil, and More

Replacements for ousted StatoilHydro execs named after scandal -- StatoilHydro, Norway's state owned oil company and the largest producer in Norway's offshore blocks, has announced the appointment of three new senior executives. The move comes after a corruption investigation into the handling of Libyan oil contracts led to the resignations of executive vice presidents Tore Torvund and Morten Ruud, in early October. Oeystein Michelsen, 52, has been appointed executive vice president for Norwegian exploration and production, Gunnar Myreboe, 59, was named executive vice president for projects and Helga Nes, 52, was appointed executive vice president of corporate staff and services. [Source: AP via Centre Daily]

China stimulus package could boost oil prices -- Not to be outdone by running dog capitalists in the West, China's nominally communist government has moved to shore up its economy with a $586 billion stimulus package. The upshot for oil and gas is that the move could bolster prices in the world's second largest oil consuming nation even as they sag in the U.S. and Europe, where demand has fallen off. [Source: Rigzone]

Vattenfall acquires Britain's Thanet Offshore wind project -- Vattenfall has acquired the offshore Thanet Offshore wind project near Kent for $54.8 million from CRC Energy. On completion, the wind farm will be the largest offshore wind plant in Britain and will have capacity of 300 megawatts. [Source: Energy Current]

SunPower to supply panels to Ecoware -- SunPower is to ship some 130 megawatts to the Italian solar power integrator, Ecoware over the next four years, starting in early 2009. The news come son the heels of a Deutsche Securities report which downgraded SunPower's shares from "buy" to "hold." [Source: Earth2Tech]