Energy: March 2016

Thursday, March 31, 2016

As US shale drillers suffer, even the bankrupt keep pumping oil

April 1 (Reuters) - As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers would first have to falter to allow markets to rebalance.

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Monaco raids Unaoil offices over global oil corruption probe

SYDNEY, April 1 (Reuters) - Monaco has raided the homes and offices of oil company Unaoil after a UK request for assistance in an investigation into alleged corruption involving foreign companies in the global oil sector, the principality said in a statement.

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UPDATE 2-S.Korea March exports fall by slowest in 4 mths, sales to China stay weak

SEOUL, April 1 (Reuters) - Improved shipments of smartphones and steel in March helped South Korea post its slowest decline in exports for four months government data showed on Friday, but weakness in sales to China remained a worry for the world's sixth largest exporter.

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REFILE-China still committed to nuclear reprocessing despite Asia stockpile fears

WASHINGTON, March 31 (Reuters) - China remains committed to its plans for nuclear reprocessing, its top nuclear industry official said on Thursday, despite concerns this could lead to a competitive buildup of plutonium stockpiles in Asia.

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Mexico's proven oil and gas reserves fell 21 pct last year

MEXICO CITY, March 31 (Reuters) - Mexico's proven oil and gas reserves dropped 21.3 percent in 2015, the oil regulator said on Thursday, as the state-run oil company, Pemex, cut back on investment because of plunging crude prices.

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China's Hanergy posts $1.6 bln loss after troubled year

SHANGHAI, April 1 (Reuters) - Chinese solar panel maker Hanergy Thin Film Power Group Ltd posted a HK$12.23 billion ($1.58 billion) loss in 2015, after a tumultuous year in which the Hong Kong securities regulator launched a probe into the firm.

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Oil prices fall on stronger dollar and further oversupply worries

SINGAPORE, April 1 (Reuters) - Oil futures eased in early Asian trade on Friday as oversupply and a strengthening dollar weighed on sentiment, although data showing another fall in U.S. oil output in January offered support.

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UPDATE 2-Libyan unity government starts work from 'secured' Tripoli naval base

TRIPOLI, March 31 (Reuters) - Libya's U.N.-backed unity government held meetings at a heavily guarded naval base in Tripoli on Thursday and a senior military official said it was working to secure state institutions in the capital.

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RPT-COLUMN-U.S. refiners press on despite unbalanced fuel demand: Kemp

LONDON, March 31 (Reuters) - Strong growth in consumption of gasoline while demand for other fuels remains more subdued is creating a headache for oil refiners in the United States and around the rest of the world.

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UPDATE 1-IMF cuts Nigeria growth forecast again amid oil slump

WASHINGTON, March 31 (Reuters) - The International Monetary Fund (IMF) said on Thursday that it has again cut its growth forecast for Nigeria as the oil exporter faces "substantial challenges" from low crude prices.

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SunEdison served DoJ subpoena on Vivint Solar deal

March 31 (Reuters) - SunEdison Inc said it received a subpoena from the U.S. Department of Justice seeking details on some financing activities related to its failed deal to buy Vivint Solar Inc.

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UPDATE 1-Brazil's top court removes Lula probe from crusading judge

BRASILIA, March 31 (Reuters) - Brazil's Supreme Court ruled on Thursday to remove a corruption investigation into former president Luiz Inacio Lula da Silva from the jurisdiction of a lower court judge who released a wiretapped conversation of him with President Dilma Rousseff.

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IMF cuts Nigeria growth forecast again amid oil slump

WASHINGTON, March 31 (Reuters) - The International Monetary Fund said on Thursday that it has again cut its growth forecast for Nigeria as the oil exporter faces "substantial challenges" from low crude prices.

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UPDATE 2-Italian industry minister quits over conflict of interest allegations

ROME, March 31 (Reuters) - Italian Industry Minister Federica Guidi resigned on Thursday over allegations of a conflict of interest after her partner was placed under investigation for influence peddling, in an embarrassment for Prime Minister Matteo Renzi.

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CORRECTED-UPDATE 1-U.S. Jan. crude output falls 56,000 bpd to 9.179 mln bpd -EIA

NEW YORK, March 31 (Reuters) - U.S. crude oil production fell for the fourth consecutive month in January, but rising output from shale formations in Texas highlighted U.S. producers' ability to keep output near record levels in the face of low prices.

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Washington nuclear plant restarts after shutdown

LOS ANGELES, March 31 (Reuters) - A nuclear power plant in Washington state was restarted on Thursday after being shut down earlier this week after a maintenance test found an issue with a valve.

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'Teapot' refiners help propel China's W. African oil bookings in April

* Loadings for China hit highest since Sept. 2014 * WAF-Asia April loadings at eight-month high * Korea, Australia book Nigerian oil * Graphic: http://link.reuters.com/sav75v By Libby George LONDON, March 31 (Reuters) - China's loadings of West African crude oil were on track to hit their highest barrel-per-day level in 19 months in April, according to a Reuters survey of shipping fixtures and traders on Thursday. The boost is due to strong demand from the country's ind

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UPDATE 3-Rosneft's 2015 net profit rises, debt falls

* Prepayments stood at 938 bln roubles in 2015 (Adds details from conference call)

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UN sanctions change possible when Libya government controls wealth fund

UNITED NATIONS, March 31 (Reuters) - The U.N. Security Council said on Thursday it was ready to consider changes to sanctions on Libya's sovereign wealth fund once a unity government confirms it has control of it, along with the National Oil Corporation and the central bank.

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COLUMN-U.S. refiners press on despite unbalanced fuel demand: Kemp

Iraq's Sadr calls for an end to sit-in near Baghdad's Green Zone

BAGHDAD, March 31 (Reuters) - Iraq's powerful Shi'ite Muslim cleric Moqtada al-Sadr on Thursday told supporters to end a sit-in at the gates of Baghdad's fortified Green Zone after Prime Minister Haider al-Abadi presented a new cabinet lineup aimed at fighting corruption.

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Guinea and Burkina Faso to take back unused mining permits

March 31 (Reuters) - Guinea and Burkina Faso plan to take back hundreds of unused mining permits for re-auction, ministers said this week, as governments try to reignite interest in the sector amid a downturn.

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RPT-COLUMN-China's perfect diesel storm poised to hit Asian fuel market: Russell

LAUNCESTON, Australia, March 31 (Reuters) - Should Asia be bracing itself for a flood of gasoil from China in the second quarter?

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UPDATE 1-Coal miner Peabody Energy to cut jobs in Powder River Basin

March 31 (Reuters) - Peabody Energy Corp, the largest U.S. coal producer, said it would lay off about 235 employees at a mine in the Powder River basin, two weeks after the company flagged bankruptcy risk.

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Coal miner Peabody Energy to cut jobs in Powder River Basin

Superior Energy eliminates dividend

March 31 (Reuters) - Oilfield services provider Superior Energy Services Inc said it approved the elimination of its quarterly dividend as it looks to shore up its finances amid a prolonged oil price slump that has severely reduced spending by oil producers.

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UPDATE 1-Superior Energy scraps dividend

March 31 (Reuters) - Oilfield services provider Superior Energy Services Inc said it has scrapped its quarterly dividend as it looks to shore up its finances amid a prolonged slump in oil prices.

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UPDATE 1-Britain's greenhouse gas emissions fell 3.3 pct in 2015 - govt

LONDON, March 31 (Reuters) - Britain's greenhouse gas emissions fell by 3.3 percent in 2015, largely due to a decline in coal-fired power generation, preliminary government data showed on Thursday.

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Japan's power monopolies face major reform jolt

TOKYO, March 31 (Reuters) - Japan's power utilities will lose their monopoly over electricity on Friday in an unprecedented shakeup that could give a much needed jolt to Japan's long stagnant economy.

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UPDATE 4-Oil falls as U.S. crude stocks hit record for 7th week in a row

* Oil prices could find support at $35 a barrel -oil risk manager (Adds China oil import forecast, updates prices)

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Wednesday, March 30, 2016

COLUMN-China's perfect diesel storm poised to hit Asian fuel market: Russell

LAUNCESTON, Australia, March 31 (Reuters) - Should Asia be bracing itself for a flood of gasoil from China in the second quarter?

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China-led infrastructure bank eyes first loans to India

* Seeks more than $3 bln from multilateral lenders in 2016/17

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Eletrobras posts Q4 loss of $2.85 bln on impairments, provisions

SAO PAULO, March 30 (Reuters) - Brazil's state-run Eletrobras, Latin America's largest electricity utility, posted on Wednesday a net loss of 10.438 billion reais ($2.85 billion) for the fourth quarter, due to impairments and provisions for potential legal liabilities.

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REFILE-Oil prices fall as U.S. crude stocks hit record for 7th successive week

SINGAPORE, March 31 (Reuters) - Oil futures fell in early Asian trade on Thursday amid renewed worries of global oversupply after official data showed U.S. crude inventories rose last week to a record for the seventh time in a row.

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Australia's Duet to raise $153 mln to pay for Alcoa pipeline stake

SYDNEY, March 31 (Reuters) - Energy infrastructure owner Duet Group launched a A$200 million ($153 million) capital raising on Thursday to finance the purchase of the remaining 20 percent of the Western Australian state gas transmission line it does not already own from Alcoa Inc's Australian arm.

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Westinghouse expects to sign India reactor deal in June -CEO

WASHINGTON, March 30 (Reuters) - The chief executive of Toshiba Corp's Westinghouse Electric said on Wednesday he expects to sign a deal in June to build six nuclear reactors in India after marathon negotiations that began more than a decade ago.

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Asia's record LPG shortfall to attract increasing U.S. exports

* U.S. 2016 exports to Asia to rise to fresh record at 300,000 bpd - JBC Energy

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UPDATE 2-Brazil's president scrambles to hold coalition together

BRASILIA, March 30 (Reuters) - Brazil's President Dilma Rousseff scrambled on Wednesday to hold together her crumbling ruling coalition by negotiating key government posts with remaining allies, aides said, as key partners discussed abandoning her amid impeachment proceedings.

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Petrobras to save $500 mln a year with reorganization plan

SAO PAULO, March 30 (Reuters) - State-controlled Petróleo Brasileiro SA, the Brazilian oil producer at the center of a sweeping corruption probe, plans to save 1.8 billion reais ($500 million) a year through a reorganization plan that includes the merger of several business units, job cuts and a streamlining of activities.

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Libya requests UN sanctions exemption for sovereign wealth fund

UNITED NATIONS, March 30 (Reuters) - Libya is asking the U.N. Security Council to approve a sanctions exemption for its blacklisted sovereign wealth fund to halt billion-dollar losses caused by ineffective management of frozen assets, according to a letter released on Wednesday.

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UPDATE 1-Bank of Canada: oil shock recovery will take more than two years

EDMONTON, March 30 (Reuters) - Canada will take more than two years to fully adjust to the drop in oil prices, a senior Bank of Canada official said on Wednesday, signaling no quick end to a shock that has roiled the economy.

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UPDATE 1-U.S. arrests oil industry networking site creator over hacks

NEW YORK, March 30 (Reuters) - The founder of an oil and gas networking website was arrested on Wednesday on charges that he hacked and stole information from a rival site he had created and sold to DHI Group Inc, the Federal Bureau of Investigation said.

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Washington nuclear plant to restart this week after shutdown

LOS ANGELES, March 30 (Reuters) - A Washington state nuclear power plant is expected to be restarted this week after it was shut down to check an issue with a valve that was discovered during a maintenance test, a representative said on Wednesday.

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Nigeria arrests person suspected of bombing ENI pipeline - security official

YENAGOA, Nigeria, March 30 (Reuters) - Nigeria has arrested a person suspected of having bombed an oil pipeline belonging to Italy's ENI in the southern Delta region, a commander of a state security force said on Wednesday.

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Trump poses big threat to emerging markets, U.S. fund manager says

NEW YORK, March 30 (Reuters) - A Donald Trump victory in the November U.S. presidential election would wreak havoc on emerging market stocks, said portfolio manager Rick Schmidt, a co-manager of the $2.4 billion Harding Loevner Emerging Markets stock fund.

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UPDATE 1-U.S. crude oil stockpiles rise less than expected in week - EIA

NEW YORK, March 30 (Reuters) - U.S. crude oil stockpiles rose less than expected last week as imports fell and refinery runs rose, while gasoline and distillate inventories drew down, data from the Energy Information Administration showed on Wednesday.

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OPEC oil output rises in March as Iran, Iraq growth offsets outages

LONDON, March 30 (Reuters) - OPEC oil output is rising in March, a Reuters survey found, as higher supply from Iran after the lifting of sanctions and near-record exports from southern Iraq offset maintenance and outages in smaller producers.

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Militant interest in attacking nuclear sites stirs concern in Europe

PARIS/FRANKFURT, March 30 (Reuters) - Metre-thick concrete walls and 1950s-style analog control rooms help protect nuclear plants from bomb attacks and computer hackers, but Islamist militants are turning their attention to the atomic industry's weak spots, security experts say.

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France says tighter corruption laws will boost growth

PARIS, March 30 (Reuters) - French Finance Minister Michel Sapin said on Wednesday that proposed tighter anti-corruption laws and enhanced government transparency could add 0.2 percent to the country's economic output annually.

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UPDATE 1-SandRidge hires advisers to evaluate options including bankruptcy

March 30 (Reuters) - SandRidge Energy Inc said on Wednesday it had engaged advisers to evaluate options including a private restructuring or reorganization under Chapter 11.

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UPDATE 1-China's Shenhua in talks with CNNC, CGN on stakes in nuclear projects

BEIJING, March 30 (Reuters) - China's Shenhua Group is in talks with leading Chinese nuclear developers on taking stakes in domestic nuclear projects, as the country's biggest coal producer diversifies into cleaner forms of energy, Shenhua President Zhang Yuzhuo said on Wednesday.

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Sinopec to boost gas capacity two-thirds by 2020 - chairman

HONG KONG, March 30 (Reuters) - China Petroleum & Chemical Corporation (Sinopec) , plans to boost its domestic natural gas production capacity by about two-thirds by 2020, its chairman said on Wednesday, part of plans to develop clean energy.

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UPDATE 1-Iran can add 500,000 bpd oil supply in a year- IEA chief

BEIJING, March 30 (Reuters) - Iran is expected to add half a million barrels of oil supply a day within a year from its existing oilfields after the lifting of sanctions against Tehran in January, but developing new fields would take time, the head of the International Energy Agency said on Wednesday.

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EXCO Resources says borrowing base cut by 13 pct to $325 mln

March 30 (Reuters) - EXCO Resources Inc said its lenders have cut its borrowing base by 13 percent to $325 million amid a slump in oil prices.

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Shell says Dutch investigators visit Shell HQ in Nigeria oil probe

LONDON, March 30 (Reuters) - Royal Dutch Shell said on Wednesday Dutch investigators recently visited its headquarters in the Hague in the Netherlands in relation to an investigation into a Nigerian offshore oil field.

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Finland hopes for new growth from shrunken forest industry

LAPPEENRANTA, Finland, March 30 (Reuters) - It has created a modest 200 jobs in a Finnish forestry industry that has lost around 20,000 in the past decade, but UPM-Kymmene's new biofuels plant offers long-awaited growth and hope.

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EDF reaffirms Hinkley Point plans after report of engineer concerns

PARIS, March 30 (Reuters) - State-controlled French utility EDF reaffirmed its plans to complete its Hinkley Point nuclear reactor project in southern England by 2025 after a newspaper report said a group of its own engineers had doubts about the timetable.

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Tuesday, March 29, 2016

Bangladesh-China JV to construct $1.56 bln power plant in southern Bangladesh

DHAKA, March 30 (Reuters) - Bangladesh-China Power Company Limited (BCPCL) will invest $1.56 billion in a coal-fired plant near a proposed sea port south of Dhaka to produce 1,320 megawatts (MW) of electricity by 2019, the head of the joint venture (JV) said on Wednesday.

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UPDATE 1-Oil prices rebound on less than expected build in stocks

SINGAPORE, March 30 (Reuters) - Oil futures rebounded in Asian trade on Wednesday, buoyed by a forecast for a less than expected build in crude oil stockpiles last week.

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RPT-COLUMN-Hedge funds establish near-record bullish bet on rising oil prices: Kemp

LONDON, March 29 (Reuters) - Hedge funds and other money managers have amassed a near-record number of bullish bets on increasing oil prices, helping push the main international benchmark well above $40 per barrel.

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Tata Steel to sell entire UK operation -BBC

March 29 (Reuters) - Britain's largest steelmaker Tata Steel Ltd is expected to announce the sale of its entire UK business, BBC reported citing union sources.

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U.S. crude rebounds on less than expected build in stocks

SINGAPORE, March 30 (Reuters) - U.S. crude futures rebounded in early Asian trade on Wednesday, buoyed by a forecast of a less than expected build in crude oil stockpiles last week, although concern over an oversupplied market and a stronger dollar put a ceiling on gains.

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UPDATE 3-Probe of Exxon's climate change disclosures expands

WASHINGTON, March 29 (Reuters) - The top attorneys from Massachusetts and the U.S. Virgin Islands said on Tuesday they will investigate whether Exxon Mobil Corp misled investors and the public about the risks of climate change.

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UPDATE 1-Bourbon diversifies into mid-stream gas as low oil bites

* Sees US, global gas market growing (Recasts with chairman's comments at presentation)

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Massachusetts to launch probe of Exxon's climate change disclosures

WASHINGTON, March 29 (Reuters) - Massachusetts is launching an investigation into whether Exxon Mobil Corp misled investors and the public about the risks of climate change, state Attorney General Maura Healey said on Tuesday.

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Mexico sets low local content rule for deep water oil projects

MEXICO CITY, March 29 (Reuters) - Oil companies operating in Mexico's deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low rate meant to encourage foreign and private firms to bid on contracts.

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UK's fraud prosecutor brings charges against Alstom UK head

March 29 (Reuters) - Britain's Serious Fraud Office (SFO) charged the UK president of French engineering company Alstom with offences of corruption and conspiracy to corrupt in connection with some train contracts with the Budapest Metro.

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UPDATE 5-SunEdison at risk of bankruptcy, unit says; shares plummet 60 pct

* Bankruptcy would be among biggest in 10 yrs by non-financial co

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Stung by large U.S. fines, France to tighten anti-corruption laws

PARIS, March 29 (Reuters) - France is tightening its anti-corruption laws to clean up its image after several French companies were slapped with huge fines abroad, with planned reforms including greater protection for whistleblowers and a new anti-corruption agency.

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UPDATE 1-Russian minister says Rosneft set to lower oil output

MOSCOW, March 29 (Reuters) - Rosneft is set to lower oil output, Russian Natural Resources Minister Sergei Donskoi said on Tuesday, ahead of a meeting of leading global oil producers in Doha on April 17 to discuss an output freeze to support weak oil prices.

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UPDATE 1-Three killed in oil pipeline explosion in Nigeria's delta - environment group

YENAGOA, Nigeria, March 29 (Reuters) - Three people were killed and several wounded when an oil pipeline belonging to Italy's ENI exploded during repair works in Nigeria's southern Delta region, an environmental group said on Tuesday.

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RPT-COLUMN-LNG producers need to go downstream to build industry: Russell

LAUNCESTON, Australia, March 29 (Reuters) - - The falling dominoes that are major liquefied natural gas (LNG) projects show that the industry needs a re-think on how it is structured and operates.

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Total triples power of supercomputer in search for savings

PARIS, March 29 (Reuters) - Total has tripled the power of its Pangea supercomputer, making it one of the world's most powerful and helping the French oil and gas company to speed up exploration studies and cut costs amid low oil prices.

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SunEdison at risk of bankruptcy, unit says

March 29 (Reuters) - U.S. solar company SunEdison Inc unit TerraForm Global Inc said on Tuesday there was "substantial risk" that SunEdison would soon seek bankruptcy protection.

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UPDATE 1-SunEdison at risk of bankruptcy, unit says

March 29 (Reuters) - U.S. solar company SunEdison Inc is at "substantial risk" of bankruptcy, unit TerraForm Global Inc said, sending SunEdison's shares down 20 percent in premarket trading.

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Ukraine parliament approves resignation of chief prosecutor

KIEV, March 29 (Reuters) - The Ukrainian parliament approved on Tuesday the resignation of General Prosecutor Viktor Shokin, an official seen by the Ukraine's Western backers as an obstacle to tackling corruption.

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Monday, March 28, 2016

COLUMN-LNG producers need to go downstream to build industry: Russell

REFILE-Venezuela PDVSA reiterates it is victim of corruption smear campaign

March 28 (Reuters) - Venezuela's state-owned oil company PDVSA on Monday said it was the target of a smear campaign after the U.S. Justice Department said three of the firm's former employees had pleaded guilty to charges over a scheme to corruptly secure energy contracts.

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UPDATE 1-SunEdison being investigated by SEC on liquidity concerns-WSJ

March 28 (Reuters) - The U.S. Securities and Exchange Commission is looking into SunEdison Inc's disclosures to see if the solar company exaggerated its liquidity last year when it said it had more than $1 billion in cash, the Wall Street Journal reported on Monday.

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Ecuador oil minister to visit Colombia, Mexico to push output talks

QUITO, March 28 (Reuters) - Ecuador's oil minister said on Monday he will travel to Colombia and Mexico this week to discuss a proposed meeting between Latin American oil producers to unify the region in backing an output freeze or other measures to bolster prices.

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UPDATE 1-Brazil lawyers file new impeachment case against Rousseff

BRASILIA, March 28 (Reuters) - The Brazilian Bar Association (OAB) filed a request on Monday to impeach President Dilma Rousseff for obstructing justice, fiscal accounting tricks and granting international soccer body FIFA tax-exempt status during the 2014 World Cup.

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UPDATE 1-Oil prices fall as concerns rise over rally petering out

* US commercial crude stockpiles expected to hit another record

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RPT-China mutual funds turn to commodities, bet on reforms

* Hope campaign to overhaul resources sector will push up prices

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Brazil lawyers file new impeachment case against Rousseff

BRASILIA, March 28 (Reuters) - The Brazilian Bar Association (OAB) filed a new request on Monday for the impeachment of President Dilma Rousseff for obstructing justice and granting international soccer body FIFA tax-exempt status during the 2014 World Cup.

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UPDATE 1-Brazil party set to abandon Rousseff, eyes presidency

BRASILIA, March 28 (Reuters) - Brazil's largest party will decide on Tuesday to break away from President Dilma Rousseff's floundering coalition, party leaders said, sharply raising the odds that the country's first woman president will be impeached amid a corruption scandal.

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REFILE-Leader of Nigeria's ruling APC party criticises petroleum minister

ABUJA, March 28 (Reuters) - The national leader of Nigeria's ruling party, the All Progressives Congress (APC), has criticised the minister of state for petroleum over comments made about fuel shortages that have gripped Africa's biggest oil producer.

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UPDATE 1-USGS revises seismic risk map to include quakes caused by humans

HOUSTON, March 28 (Reuters) - Earthquakes caused by human activity will now be included in the U.S. Geological Survey's seismic risk maps, the agency said on Monday after a sharp rise in temblors linked to wastewater disposal wells used by the oil and gas industry in Oklahoma.

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Brazil party set to abandon Rousseff, eyes presidency

BRASILIA, March 28 (Reuters) - Brazil's largest party will decide on Tuesday to break away from President Dilma Rousseff's floundering coalition, party leaders said, sharply raising the odds she will be impeached amid a corruption scandal.

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MIDEAST STOCKS-Markets narrowly mixed, Dubai holds chart support

* Kuwait Finance House surges on offer to buy affiliate stake

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CANADA STOCKS-TSX falls as energy, mining stocks weigh

TORONTO, March 28 (Reuters) - Canada's main stock index fell on Monday, as energy and mining stocks pulled back with oil prices slightly lower, while consumer names made some gains.

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Russian PM Medvedev says no plan to raise taxes before 2018 - reports

MOSCOW, March 28 (Reuters) - Russian Prime Minister Dmitry Medvedev said on Monday that the government had no plans to raise taxes before 2018, Russian news agencies reported.

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Oman to encourage household generation of solar power

MUSCAT, March 28 (Reuters) - Oman will encourage households to generate electricity with solar panels and feed it into the national grid, Qais al-Zakwani, executive director of the Authority for Electricity Regulation, said on Monday.

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No bids for $2.7 bln Philippine infrastructure project ahead of May election

MANILA, March 28 (Reuters) - A major Philippine infrastructure project received no bids by a Monday deadline, underscoring worries about the viability of the project and concern that plans could be changed or even scrapped by a new administration after elections in May.

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UPDATE 2-Czechs roll out red carpet for first visit by Chinese president

* Unknown suspect defaces Chinese flags on eve of visit (Adds Chinese Foreign Ministry on flags)

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Sunday, March 27, 2016

UPDATE 1-Oil prices rise in thin Asian trade after break

* Some markets still out on Easter holiday (Adds comment, updates prices)

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Oil prices rise in thin Asian trade after break

TOKYO, March 28 (Reuters) - Oil prices rose in early Asian trading on Monday after a three-day break, but volumes were tiny as a number of markets remain on holiday for Easter.

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Cheap buyout plans in Singapore? Not so quick, say minority shareholders

SINGAPORE, March 28 (Reuters) - Singapore managements are increasingly being forced to pay up for taking their companies private as minority investors demand bigger premiums to the depressed market valuations of targets, underscoring a growing trend of shareholder activism in Asia.

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China mutual funds turn to commodities, bet on reforms

* Hope campaign to overhaul resources sector will push up prices

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Israeli energy minister says court ruling on gas may cause irreversible damage

JERUSALEM, March 27 (Reuters) - Israel's energy minister said that the Supreme Court made an "unfortunate decision" on Sunday in blocking a government plan to develop offshore natural gas fields, adding that the move may cause irreversible damage to Israel's energy sector.

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UPDATE 1-Israeli court blocks government's natural gas plan in blow to energy firms

JERUSALEM, March 27 (Reuters) - Israel's Supreme Court blocked a controversial plan to develop the country's natural gas fields on Sunday, dealing a blow to energy companies operating in the eastern Mediterranean and drawing fire from the government.

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Iraq's Sadr begins sit-in inside Green Zone, tells supporters to stay outside

BAGHDAD, March 27 (Reuters) - Powerful Iraqi Shi'ite Muslim leader Moqtada al-Sadr entered Baghdad's heavily fortified Green Zone on Sunday to continue a sit-in which his supporters began at the district's gates more than a week ago to pressure the government to enact reforms.

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UPDATE 1-Iraq's Sadr begins sit-in inside Green Zone to push for reforms

BAGHDAD, March 27 (Reuters) - Powerful Iraqi Shi'ite Muslim leader Moqtada al-Sadr entered Baghdad's Green Zone, the heavily-fortified centre of the city housing government and other official buildings, on Sunday to keep up pressure on the government to enact reforms.

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Qatar's Al Jazeera network laying off 500 employees

DOHA, March 27 (Reuters) - Qatar's Al Jazeera broadcasting network is laying off about 500 employees or more than 10 percent of its staff, it announced on Sunday reflecting financial pressures on the tiny Gulf state due to low global prices for oil and natural gas.

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MIDEAST STOCKS-Egypt pulls back from near technical barrier, Gulf slips

DUBAI, March 27 (Reuters) - Egypt's stock market fell back from near technical resistance on Sunday while Gulf markets also slipped in the absence of fresh, positive news.

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Construction of Indonesian coal-fired power plant to start - media

TOKYO, March 27 (Reuters) - The construction of a $4 billion, 2,000-megawatt coal-fired power station in Indonesia will begin on April 1 after years of delay as land acquisitions are finally complete, Japan's Nikkei business daily said on Sunday.

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Saturday, March 26, 2016

UPDATE 1-Trump would consider halting U.S. oil purchases from Saudis -NYT

WASHINGTON, March 26 (Reuters) - Republican presidential front-runner Donald Trump told the New York Times he would consider stopping U.S. oil purchases from Saudi Arabia unless the Saudi government provide troops to fight Islamic State.

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Trump may halt U.S. oil purchases from Saudi Arabia - NYT

Iran's Rouhani says can provide Pakistan gas through pipeline within months

ISLAMABAD, March 26 (Reuters) - Iranian President Hassan Rouhani said on Saturday that Iran had completed work on its side of a much-delayed pipeline pumping natural gas to Pakistan and would be in a position to provide gas to its energy-starved neighbour in a few months.

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Pakistan, Iran aim to boost trade to $5 billion

ISLAMABAD, March 26 (Reuters) - Pakistan and Iran aim to increase annual trade volumes between the two countries to $5 billion by 2021, Pakistani Prime Minister Nawaz Sharif said on Saturday.

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Syrian army advancing inside Palmyra in major offensive -monitor

BEIRUT, March 26 (Reuters) - Syrian government forces advanced into Palmyra on several fronts on Saturday, backed by waves of air strikes and artillery barrages, a monitoring group said.

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Iraqi Shi'ite leader threatens unrest if reforms blocked

BAGHDAD, March 25 (Reuters) - Powerful Iraqi Shi'ite Muslim leader Moqtada al-Sadr warned political party leaders on Friday they would face street protests if they obstruct a government overhaul planned by Prime Minister Haider al-Abadi to fight corruption.

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Friday, March 25, 2016

UPDATE 1-Switzerland to hand Venezuela oil firm bank records to US

ZURICH, March 25 (Reuters) - In a widening corruption probe into Venezuela's state oil company by U.S. authorities, Swiss regulators have agreed to provide U.S. prosecutors with records from at least 18 banks relating to the oil firm.

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China state firms' Jan-Feb profits fall 14.2 percent y/y

BEIJING, March 25 (Reuters) - Profits from China's state firms fell 14.2 percent in the January to February period from a year earlier to 222.61 billion yuan ($34.2 billion), the Ministry of Finance said on Friday, in a sign of worsening business conditions from a slowing economy.

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Former Malaysian PM Abdullah named new Petronas adviser

KUALA LUMPUR, March 25 (Reuters) - Former Malaysian Prime Minister Abdullah Ahmad Badawi was appointed as adviser for state oil firm Petroliam Nasional Bhd (Petronas), replacing another former premier Mahathir Mohamad who was fired from the post two weeks ago.

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Nigeria targets 300 army officers, firms, in widening corruption probe

ABUJA, March 25 (Reuters) - Nigeria has accused 300 firms and individuals, including army officers, of embezzling 48 billion naira ($241.45 million) through overpaid defence contracts or fraud, the presidency said on Thursday in a widening a crackdown on graft.

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Thursday, March 24, 2016

Switzerland to hand Venezuela oil firm bank records to US - Bloomberg

ZURICH, March 24 (Reuters) - In a widening corruption probe into Venezuela's state oil company by the U.S. Justice Department, Swiss regulators have agreed to provide U.S. prosecutors with records from at least 18 banks relating to the oil firm, Bloomberg reported on Wednesday.

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COLUMN-Oil price war threatens U.S. sense of energy security: Kemp

LONDON, March 24 (Reuters) - The political economy of oil prices in the United States is complicated.

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Delays at Venezuela's main crude port trigger vessels backlog

HOUSTON/CARACAS, March 24 (Reuters) - Serious delays to load and unload vessels at Venezuela's main crude port started to create a backlog of tankers last week that is now extending to the island of Curacao, according to traders, a union representative and Thomson Reuters data.

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Total and Iran sign South Azadegan agreement - Press TV

PARIS, March 24 (Reuters) - French oil and gas firm Total has signed a confidential agreement with Tehran to develop Iran's South Azadegan oil field which it shares with Iraq, state-run Press TV reported on Thursday, quoting Oil Minister Bijan Zangeneh.

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WRAPUP 2-Syrian forces fight their way into Palmyra, as Kerry and Putin hail thaw

GENEVA/MOSCOW/BEIRUT, March 24 (Reuters) - Syrian troops backed by Russian air support fought their way into the Islamic State-held city of Palmyra on Thursday, their biggest offensive yet against the jihadist caliphate, as Moscow and Washington hailed cooperation to help end the civil war.

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Brazilian turbulence may offer value for careful stockpickers

NEW YORK, March 24 (Reuters) - When global oil prices peaked in 2008, Brazil's Petrobras had a market value of $290 billion, outranking U.S. tech bellwethers like Microsoft Corp and Apple Inc. Today, the one-time state champion is worth one ninth of that.

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UPDATE 7-Oil down slightly; U.S. rig count drop offsets stockpiles surge

* Crude futures erase much of day's loss (Recasts, updates market activity and comments after rig count data)

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UPDATE 3-U.S. indicts Iranians for hacking dozens of banks, New York dam

WASHINGTON, March 24 (Reuters) - Seven Iranian hackers broke into computers of dozens of U.S. banks, causing millions of dollars in damages, and tried to shut down a New York dam, the U.S. government said on Thursday in an indictment that for the first time accused individuals tied to another country of trying to disrupt critical infrastructure.

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U.S. drillers cut rigs for 14th week in a row -Baker Hughes

March 24 (Reuters) - U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation. Oil rigs alone fell 15 to 372, the lowest level since November 2009, oil services company Baker Hughes Inc said in its closely followed report. Looking forward however, analysts forecast the rig count will bottom in a cou

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UPDATE 1-U.S. drillers cut oil and gas rigs for 14th straight week -Baker Hughes

(Adds natural gas rigs) March 24 (Reuters) - U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation. Oil rigs alone fell 15 to 372, the lowest level since November 2009, oil services company Baker Hughes Inc said in its closely followed report. After last week fallin

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Trafigura clinches $5.1 bln loan as trading grows

LONDON, March 24 (Reuters) - Swiss commodities trader Trafigura has signed a $5.1 billion European revolving credit facility aimed at financing its growing operations.

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UPDATE 1-China Shenhua Energy's profit falls, to cut output in 2016

BEIJING, March 24 (Reuters) - China Shenhua Energy's net profit fell 56.9 percent in 2015, missing forecasts and dropping for a third straight year due to lower demand in a slowing economy and the country's efforts to switch to cleaner forms of energy.

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China leads as green energy investment plans hit record high

FRANKFURT, March 24 (Reuters) - China helped push global green energy investment plans to record heights in 2015, offsetting a sharp fall in Germany, authors of a U.N.-backed report said on Thursday, predicting further growth.

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U.S. durable goods orders fall as dollar strength lingers

WASHINGTON, March 24 (Reuters) - New orders for long-lasting U.S. manufactured goods fell in February as the sector continues to struggle with the lingering effects of a strong dollar and lower oil prices.

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WRAPUP 1-U.S. durable goods orders fall; labor market tightening

WASHINGTON, March 24 (Reuters) - New orders for long-lasting U.S. manufactured goods fell in February as the sector continues to struggle with the lingering effects of a robust dollar and lower oil prices.

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Despite oil's decline, energy companies win with equity offerings

NEW YORK, March 24 (Reuters) - More than a dozen companies in the hard-hit exploration and production energy industry have announced new share offerings this year - and have generally been rewarded in the stock market for the strategy.

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UPDATE 1-Indonesia may seek to remove diesel subsidies in 2016 budget revision - minister

* May seek to remove fuel subsidies wholly or partly - minister

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Vietnam vexed over Taiwan's "worthless" media trip to island

HANOI, March 24 (Reuters) - Vietnam rebuked Taiwan on Thursday for taking journalists to a disputed South China Sea island, saying the trip was "illegal and worthless" and against the international community's wishes.

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China to halt construction on coal-fired power plants in 15 regions

BEIJING, March 24 (Reuters) - China will stop the construction of coal-fired power plants in 15 regions as part of its efforts to tackle a capacity glut in the sector, the country's energy regulator said on Thursday, confirming an earlier media report.

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UPDATE 1-Inpex, Shell say yet to decide on onshore option for Indonesia LNG plant

* Indonesia optimistic Inpex, Shell will stay on as Masela block investors

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UPDATE 1-EU helps protect UK energy supply from Russia's Putin, says pro-EU minister

LONDON, March 24 (Reuters) - Britain's membership of the European Union helps secure the country's energy supply from any possible threat by Vladimir Putin's Russia to restrict gas flows, energy minister Amber Rudd will say on Thursday.

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Petra Diamonds sells exceptional pink diamond for $15 mln

March 24 (Reuters) - Petra Diamonds Ltd said on Thursday it had recovered and sold an exceptional 32.33 carat pink diamond from the Williamson mine in Tanzania for $15 million.

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Wednesday, March 23, 2016

Australia shares hit 3-week lows, NZ recoils from record high

SYDNEY/WELLINGTON, March 24 (Reuters) - Australian shares fell to their lowest in three weeks on Thursday, while their New Zealand counterparts recoiled from yet another record high as investors turned defensive ahead of the Easter long weekend.

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UPDATE 1-China's ENN buys $750 mln stake in Australia's Santos

* Santos keen to talk to ENN about gas supply to China (Adds Santos, ENN comments)

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EU helps protect UK energy supply from Russia's Putin, says pro-EU minister

UPDATE 2-Energy Transfer paints grim picture of Williams deal

NEW YORK, March 23 (Reuters) - Energy Transfer Equity (ETE) slashed expectations for its more than $14 billion takeover of rival pipeline company Williams Cos Inc on Wednesday, saying cost savings could be all but wiped out by low oil prices and higher capital costs.

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Exxon Mobil must allow climate change vote -SEC

March 23 (Reuters) - The U.S. Securities and Exchange Commission has ruled Exxon Mobil Corp must include a climate change resolution on its annual shareholder proxy, a defeat for the world's largest publicly traded oil producer, which had argued it already provides adequate carbon disclosures.

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WRAPUP 2-United States to press Russia on Syria's Assad

MOSCOW/GENEVA, March 23 (Reuters) - U.S. Secretary of State John Kerry is expected to press President Vladimir Putin over a political transition for Syria on Thursday, after Europe's foreign policy chief turned up unexpectedly in Geneva to try to reinvigorate peace talks.

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China's ENN buys $750 mln stake in Australia's Santos

MELBOURNE, March 24 (Reuters) - Chinese private gas distributor ENN is set to become the top shareholder in Australia's Santos Ltd after agreeing to buy an 11.7 percent stake for $750 million from Hony Capital, in a push to get into gas production.

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Giant arch to block Chernobyl radiation for next 100 years

CHERNOBYL, Ukraine March 23 (Reuters) - In the middle of a vast exclusion zone in northern Ukraine, the world's largest land-based moving structure has been built to prevent deadly radiation spewing from the Chernobyl nuclear disaster site for the next 100 years.

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UPDATE 2-Washington D.C. commission approves Exelon's merger with Pepco

WASHINGTON, March 23 (Reuters) - Washington D.C. regulators on Wednesday approved power company Exelon Corp's merger with Pepco Holdings Inc, a decision that clears the last regulatory hurdle facing the $6.8 billion deal to create the country's top power distributor.

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U.S. to charge Iranians in cyber attacks including New York dam-sources

WASHINGTON, March 23 (Reuters) - The Obama administration is expected to blame Iranian hackers as soon as Thursday for a coordinated campaign of cyber attacks in 2012 and 2013 on a suburban New York City dam and several other targets, sources familiar with the matter have told Reuters.

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Petroperu expects crude oil pipeline to resume flow in 65 days

LIMA, March 23 (Reuters) - State-owned energy company Petroperu said on Wednesday that it expects its crude oil pipeline in northwestern Peru to resume operations in about 65 days after two ruptures halted the flow of about 5,500 barrels per day.

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Iraq oil exports, OPEC's fastest growing in 2015, hold steady in March

LONDON, March 23 (Reuters) - Iraq's oil exports have held steady so far in March, according to loading data and industry sources, halting for now the rapid supply growth that has increased downward pressure on prices.

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UPDATE 1-Rockefeller fund dumping fossil fuels, hits Exxon on climate issues

HOUSTON, March 23 (Reuters) - The Rockefeller Family Fund said on Wednesday it will divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil, chiding the oil giant for allegedly misleading the public about climate change risks.

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UPDATE 7-Oil extends losses after big stockbuild in U.S. crude

* Figure close to API's but 3 times above analysts expectations

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U.S., Argentina take steps to tackle climate change

BUENOS AIRES, March 23 (Reuters) - U.S. President Barack Obama and Argentina's President Mauricio Macri agreed on Wednesday to take joint steps to fight climate change including working to cut carbon emissions from air flights and integrating solar and wind power into electricity grids.

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COLUMN-Gulf migrant workers will be biggest victims of oil shock: Kemp

* Saudi Arabia's migrant population: http://tmsnrt.rs/1VEmyDV

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Turkish court to hear indictment against top businessmen

* Case raises questions about media freedom, business climate

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UPDATE 2-EDF tells UK lawmakers nuclear power plant will go ahead

LONDON, March 23 (Reuters) - The Hinkley Point nuclear power project in Britain will go ahead, EDF Energy CEO Vincent de Rivaz told British lawmakers on Wednesday, though he did not give a definite schedule.

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Kerry seeks answers on Assad's future in Kremlin talks

MOSCOW, March 23 (Reuters) - U.S. Secretary of State John Kerry arrived in Moscow on Wednesday seeking answers from President Vladimir Putin on how Russia views a political transition unfolding in Syria, in particular the fate of President Bashar al-Assad.

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RPT-Big Corn finds unlikely allies in US biofuel push: carmakers and drivers

NEW YORK, March 23 (Reuters) - U.S. corn producers may have found two unlikely allies in their decade-long battle with big oil to get ethanol into the nation's fuel stream: automobile manufacturers and American drivers.

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UPDATE 1-China offers $11.5 billions in loans, credit to Southeast Asia

BEIJING, March 23 (Reuters) - China will offer $11.5 billion in loans and credit lines to five Southeast Asian countries for infrastructure and other projects, Premier Li Keqiang said on Wednesday.

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In era of cheap oil, Saudi loses shine for foreign workers

Ukraine gas consumption may fall 5 pct in 2016 - Naftogaz

KIEV, March 23 (Reuters) - Natural gas consumption in Ukraine is likely to fall to around 32 billion cubic meters (bcm) this year from 33.7 bcm in 2015, mostly due to lower household consumption, the head of Ukraine state energy firm Naftogaz said on Wednesday.

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OPEC, Russia oil output freeze deal may be "meaningless" -IEA

SINGAPORE, March 23 (Reuters) - A deal among some OPEC producers and Russia to freeze production is perhaps "meaningless" as Saudi Arabia is the only country with the ability to increase output, a senior executive from the International Energy Agency (IEA) said on Wednesday.

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Australia calls China's S.China Sea moves "counterproductive"

SYDNEY, March 23 (Reuters) - Australian Prime Minister Malcolm Turnbull on Wednesday called China's military deployments on the South China Sea "counterproductive", an unusually forceful rebuke against the country's biggest trading partner.

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UPDATE 1-Mitsui to record first annual loss on writedowns on copper, LNG assets

* Sees Y70 bln loss in FY15/16, vs prior f'cast of Y190 bln profit

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UPDATE 2-Indonesia decides against Inpex floating LNG project, wants to stay onshore

* Inpex says has not received official notification of decision (Adds picture)

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UPDATE 3-Woodside scraps Australian Browse LNG project as glut bites

* Partner Mitsui books $356 mln impairment (Adds Mitsui impairment)

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Mitsui sees around $620 mln annual loss on writedowns on copper, LNG assets

TOKYO, March 23 (Reuters) - Japanese trading firm Mitsui & Co said on Wednesday it expected a net loss of 70 billion yen ($623 million) for the business year to March 31, against an earlier forecast for a profit of 190 billion yen, hit by hefty one-off losses in its copper and other resource assets.

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Tuesday, March 22, 2016

RPT-In oil rout, some US energy bosses were spared the pain

BOSTON/NEW YORK, March 23 (Reuters) - More cash, lower targets and bigger share awards - not all U.S. energy bosses are feeling the full impact of tumbling oil prices in their paychecks.

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Indonesia decides against Inpex floating LNG project plan, goes with onshore proposal -president

JAKARTA, March 23 (Reuters) - Indonesia has decided against a proposal by Japanese oil and gas company Inpex Corp to build a floating liquefied natural gas project in eastern Indonesia and will proceed with plans to process the gas onshore instead, the president said on Wednesday.

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In oil rout, some US energy bosses were spared the pain

BOSTON/NEW YORK, March 23 (Reuters) - More cash, lower targets and bigger share awards - not all U.S. energy bosses are feeling the full impact of tumbling oil prices in their paychecks.

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Big Corn finds unlikely allies in US biofuel push: carmakers and drivers

HIGHLIGHTS-Thomson Reuters/INSEAD Q1 Asian Business Sentiment Survey -by sector

March 23 (Reuters) - Optimism for the coming six months among Asia-Pacific's biggest firms picked up in the first quarter of 2016, tempered mainly by concerns about declining demand in China and excessive currency volatility, a Thomson Reuters/INSEAD survey showed.

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Venezuelan businessman pleads guilty in U.S. energy bribery case

March 22 (Reuters) - A Venezuelan businessman accused by U.S. prosecutors of taking part in a $1 billion conspiracy to pay bribes to obtain contracts from Venezuela's state oil company pleaded guilty on Tuesday.

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UPDATE 2-Brazil's Rousseff says 'will never resign,' Lula meets Senate leader

BRASILIA, March 22 (Reuters) - President Dilma Rousseff said on Tuesday she will not resign in Brazil's worst political crisis in two decades, calling an opposition move to impeach her a "coup d'etat" against democratic rule because she had committed no crime.

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UPDATE 1-China says Philippines fishermen used fire bombs in S.China Sea

BEIJING, March 22 (Reuters) - Philippines fishermen threw fire bombs at Chinese law enforcement vessels in the South China Sea, China's Foreign Ministry said on Tuesday, after Philippines media reported that fishermen had been struck by bottles hurled from China's coast guard ships.

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UPDATE 9-Oil ends steady after Brussels attacks; awaits U.S. inventory data

* Brent edges up, U.S. crude down slightly after early tumble

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UPDATE 1-Nigeria plans to spend $1.7 billion in next quarter to revive economy

LAGOS, March 22 (Reuters) - Nigeria's government will pump 350 billion naira ($1.76 billion)in the next quarter into Africa's biggest economy hit hard by a slump in oil revenues, its finance minister said on Tuesday as parliament prepares to pass a much-delayed budget.

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UPDATE 2-Congo president set for re-election, early results show

BRAZZAVILLE, March 22 (Reuters) - Congo Republic's President Denis Sassou Nguesso was on course on Tuesday to extend his long rule, according to preliminary election results that the opposition dismissed as fraudulent as police and troops patrolled the capital's streets.

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UPDATE 1-Ukraine's finance minister launches bid to lead technocrat government

KIEV, March 22 (Reuters) - Ukrainian Finance Minister Natalia Yaresko threw her hat into the ring on Tuesday to head a technocrat government of people uncompromised by "a political past" after weeks of speculation over whether she would try to replace Arseny Yatseniuk.

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Nigeria's parliament intends to pass 2016 budget this week - lawmakers

LAGOS, March 22 (Reuters) - Senior Nigerian lawmakers said on Tuesday they expected parliament to pass the 2016 budget this week, after a three-month delay to allow for revisions after a decline in oil prices.

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Ukraine's finance minister says ready to lead technocrat government

KIEV, March 22 (Reuters) - Ukrainian Finance Minister Natalia Yaresko said on Tuesday that she was ready to form a government of technocrats that would be free from the influence of politicians and oligarchs.

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UPDATE 1-Western banks wary of helping Russian privatisations - bankers

* Deadline for banks to respond was Monday (Adds quotes, background)

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COLUMN-Vans drive Britain's road traffic to record: Kemp

LONDON, March 22 (Reuters) - The volume of traffic on Britain's roads is growing at the fastest rate for almost two decades, and exceeded its pre-recession peak for the first time in 2015.

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Tight security as Congo awaits presidential election results

BRAZZAVILLE, March 22 (Reuters) - Police and soldiers patrolled Congo Republic's capital and cellphone networks remained cut on Tuesday as authorities took action to stem possible unrest before announcing partial results from a presidential election.

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Rise in Anglo American share price could offer chance to fill its coffers

LONDON, March 22 (Reuters) - The doubling of Anglo American's share price since late January means the time could be ripe for a rights issue rather than an asset fire sale to boost its defences against tumbling commodity prices, fund managers say.

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UPDATE 1-Iraq seeks financial agreement with Kurds before pumping crude to Turkey

BAGHDAD, March 22 (Reuters) - Iraq will not resume pumping crude through a Kurdish pipeline to Turkey unless it reaches a financial agreement with the Kurdish regional government, the Iraqi oil minister said on Tuesday.

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China's vice premier seeks acceleration of gas pipeline with Russia - State TV

BEIJING, March 22 (Reuters) - China and Russia should accelerate construction of the Altai natural gas pipeline linking the two countries, vice premier Zhang Gaoli told Gazprom CEO Alexei Miller in Beijing on Tuesday, state television reported.

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UPDATE 2-Nigeria's state oil firm withheld $25 bln from government between 2011 and 2015 - state body

ABUJA, March 22 (Reuters) - Nigeria's state oil company failed to transfer 4.9 trillion naira ($25 billion) to the public purse between January 2011 and December 2015, an official body said on Tuesday.

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UPDATE 1-Brazil police targets Odebrecht in new anti-corruption raid

BRASILIA, March 22 (Reuters) - Brazilian federal police were seeking to arrest 15 people on Tuesday as part of the corruption investigation centered on state-run oil producer Petroleo Brasileiro SA, police and federal prosecutors said.

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Insurance group raises coverage for tankers carrying Iranian oil

TOKYO, March 22 (Reuters) - Flagship private shipping insurance group, the International P&I Club, has raised the default insurance coverage for tankers transporting Iranian oil to $580 million per ship from $80 million, the Japan P&I Club said on Tuesday.

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RPT-INSIGHT-Ride to the Bottom: US energy workers hit hard by company stock bets

OKLAHOMA CITY, March 22 (Reuters) - Nearly 15 years since Enron's collapse decimated the retirement accounts of its employees, hundreds of thousands of U.S. energy workers remain precariously exposed to big, concentrated bets on company stock in their 401(k) retirement plans.

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Shell, CNOOC take final decision to expand China petrochem plant

March 22 (Reuters) - Royal Dutch Shell Plc and China's CNOOC Ltd said they had made a final decision to double capacity of their jointly owned ethylene plant in China's Guangdong province.

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UPDATE 1-Vitol's 2015 revenue falls 38 pct to $168 bln

* Coal, gas, power contracted sales fall (Adds details, quotes, background)

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UPDATE 1-BG Egypt suspends some development wells after price disagreement

CAIRO, March 22 (Reuters) - BG Egypt has suspended work at some development projects in Egypt after the company was unable to reach agreement over the price of gas with the government, an official at the Egyptian General Petroleum Corp (EGPC) told Reuters on Tuesday.

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China state firms seen boosting green energy investment in Australia

* 6 or so units of state firms invested in or evaluating projects

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INSIGHT-Ride to the Bottom: US energy workers hit hard by company stock bets

Monday, March 21, 2016

UPDATE 1-Australia's New Hope sees Asia coal market bottoming out

* Reports 56 pct slide in half-year net profit (Adds comment from New Hope CEO, analyst)

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CORRECTED-Australia's New Hope sees Asia coal markets bottoming

MELBOURNE, March 22 (Reuters) - Australian coal and oil producer New Hope Corp reported a 56 percent slide in first-half core profit, hurt by its oil business, but said there are signs the Asian thermal coal market has stabilised.

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UPDATE 4-Congo ex-vice president guilty in landmark ICC war rape ruling

THE HAGUE, March 21 (Reuters) - Democratic Republic of Congo's Jean-Pierre Bemba became the highest-ranking politician convicted by the international war crimes court on Monday, when it judged him responsible for a campaign of rape and murder in Central African Republic.

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UPDATE 1-Petrobras posts record loss on writedowns, slumping oil prices

NEW YORK/SAO PAULO, March 21 (Reuters) - Brazil's state-controlled oil company Petróleo Brasileiro SA posted a record loss in the fourth quarter after booking a large writedown for oil fields and other assets as oil prices slumped.

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Nigeria's parliament to start debating petroleum bill next week -Senate

ABUJA, March 21 (Reuters) - Nigeria's Senate president said on Monday that the country's parliament would start debating next week an amended Petroleum Industry Bill (PIB), a much-delayed plan to overhaul the vital energy sector hit by graft and mismanagement.

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UPDATE 2-Alberta regulator sets steam restriction at CNRL oil sands project

CALGARY, Alberta, March 21 (Reuters) - The Alberta Energy Regulator said on Monday it is implementing additional requirements at Canadian Natural Resources Ltd's Primrose oil sands project after concluding excessive steaming caused a 6,648-barrel bitumen emulsion leak in 2013.

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UPDATE 8-Oil up on Cushing crude drawdown; eyes on U.S. output

* Total U.S. crude stock seen up 3 mln bbls last week -Rtrs poll (Updates to settlement)

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UPDATE 1-OPEC's Badri hopes for positive producer meeting in April, says Iran could join group later

* Says 300-million-barrel overhang is market's only problem (Adds quotes, context, byline)

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Aruba refinery to start hiring staff in April to repair plant -sources

HOUSTON, March 21 (Reuters) - The refinery in Aruba plans to start hiring workers in April to repair and upgrade the 235,000-barrel-per-day plant, while its proposed new operator, Citgo Petroleum, continues talks with the government to sign a contract to lease the idled facility, sources close to the deal told Reuters.

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UPDATE 1-Sadr wants Iraqis to get a share of country's oil revenue

BAGHDAD, March 21 (Reuters) - Influential Iraqi Shi'ite Muslim cleric Moqtada al-Sadr urged followers demonstrating in Baghdad for a new government to also demand that politicians give every Iraqi a direct share of the nation's oil revenues.

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OPEC's Badri says Iran could join oil-output freeze group later

VIENNA, March 21 (Reuters) - Iran may join other oil producers planning to freeze production to support prices at a later date, OPEC's secretary general said on Monday, since the country is seeking to raise its exports.

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