Jack Straw, has admitted that the fate of the convicted Lockerbie bomber Abdelbaset Ali al-Megrahi had formed part of Britain's negotiations with Libya over a multi-billion pound deal for oil exploration.

New Zealand Oil & Gas has reported a 45 per cent fall in full year net profit.

More than 300,000 Auckland power customers could get money next month.

Profits at New Zealand's largest energy distributor, Vector, have risen 16.3 per cent, but the recession means growth in new connections has slowed and volumes are down.