Bringing more gas production on stream in Bangladesh is part of an effort to meeting growing energy demands in Asian, a Chevron subsidiary said Tuesday.

Chevron's subsidiary in Bangladesh started operations from an expansion project at the Bibiyana gas asset in the northeastern part of the country. The company said in a statement the additional development boosts production capacity from Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day.

Jay Johnson, senior vice president for upstream operations at Chevron, said Bangladesh is a cornerstone of the company's foundation in the growing Asian market.

"The Bibiyana expansion represents Chevron's commitment to developing new resources to meet energy demand in Asia," he said in a statement.

Asian economies, China and India in particular, are growing at nearly twice the rate of their Western counterparts. That growth translates to higher demand for oil and natural gas.

Russian economic stumbles impact BP performance
London (UPI) Oct 28, 2014 - British energy company BP said Tuesday the depreciation of the Russian currency in part had a "significant impact" on third quarter results.

BP reported its third quarter profits were off 63 percent. Revenues for the third quarter dropped more than 3 percent year-on-year to $94.8 billion.

From its operations related to Russian oil company Rosneft, BP said net income for the quarter was $110 million compared with $808 million during the same period last year.

"The depreciation of the ruble against the dollar over the period had a significant impact on the result," the company said in its quarterly statement.

The Russian currency hit an all-time low last week, trading at 42 rubles to the dollar. Western sanctions on its energy sector imposed in response to crises in Ukraine, coupled with record-level inflation and low oil prices, have hit the Russian economy hard.

In its statement for the second quarter, BP warned any "future erosion" to its relationship with Rosneft or further economic pressure could have an adverse impact on business and strategic objectives in Russia.