Energy Update

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LONDON, Dec 13 (Reuters) - Saudi Arabia has transformed
sentiment in the oil market by assembling an unprecedented
coalition of oil producing countries to agree output cuts in
2017.

LONDON, Dec 13 (Reuters) - Royal Dutch Shell wants
to buy into the British and German offshore wind markets as it
attempts to shift its business away from fossil fuels.

BRUSSELS/LONDON, Dec 13 (Reuters) - The European Commission
said on Tuesday it is reviewing the details of Glencore's
decision to buy a stake in Russian state oil giant
Rosneft to check whether it conforms with EU sanctions
against Russia.

LONDON, Dec 13 (Reuters) - Saudi Arabia has transformed
sentiment in the oil market by assembling an unprecedented
coalition of oil producing countries to agree output cuts in
2017.

* Critics say nuclear programme too costly

(Updates with court ruling, background)

MOSCOW, Dec 13 (Reuters) - Russian officials on Tuesday
cautioned against expecting a breakthrough in its territorial
dispute with Tokyo when President Vladimir Putin visits Japan
this week, and proposed focusing instead on commercial deals.

PRAGUE, Dec 13 (Reuters) - A re-balancing of world oil
markets could occur in the first half of next year if production
cuts by OPEC and other producers are implemented, International
Energy Agency (IEA) chief Fatih Birol said on Tuesday.

TEHRAN/MOSCOW/BEIRUT, Dec 13 (Reuters) - Russian oil
producer Gazprom Neft and National Iranian Oil Company
(NIOC) agreed on Tuesday to conduct a study into the possible
development of two oil fields in Iran, Russia's energy ministry
Alexander Novak said.

MOSCOW, Dec 13 (Reuters) - Russia wants to boost bilateral
ties with Japan on all fronts and hopes to reach a peace treaty
with its eastern neighbour, Kremlin aide Yuri Ushakov said on
Tuesday, adding however that agreeing a peace treaty needed
"scrupulous work."

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