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IEA's Birol says oil markets will rebalance in first half of 2017 if cuts implemented

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.

UPDATE 1-Russia's Gazprom Neft, Iran's NIOC agree Iranian oil field studies

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.

Russia says wants peace deal with Japan but sees no quick fix

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."

Many Russian officials have good ties with Tillerson - Kremlin

MOSCOW, Dec 13 (Reuters) - Not only Russian President
Vladimir Putin but many other Russian officials also have good
relations with Exxon Mobil Corp's Rex Tillerson, the Kremlin
said on Tuesday.

Saudis to claim partial victory in taming huge deficit with 2017 budget

* Graphic on Saudi spending, revenue and reserves: http://reut.rs/1m6RPS1

E.ON invests in UK start up that uses sails to harness wind power

FRANKFURT, Dec 13 (Reuters) - German energy group E.ON
has invested in a British start-up business that uses
sails instead of rotors to harness wind energy.

Nigerians vent frustrations on President Buhari as costs soar

LAGOS, Dec 13 (Reuters) - With Christmas just weeks away,
Dolapo Beckley was among a throng of shoppers haggling at a
market in Nigeria's commercial capital Lagos, where the prices
of some goods have doubled in the last year.

UPDATE 1-China's Sinopec weighs takeover of Gulf Keystone - Bbg

Dec 13 (Reuters) - China's Sinopec Corp
is weighing a takeover of Gulf Keystone Petroleum
, an oil company operating in the Kurdistan region of
Iraq, Bloomberg reported on Tuesday.

UPDATE 1-Trump picks Exxon chief Tillerson as secretary of state

WASHINGTON, Dec 13 (Reuters) - President-elect Donald Trump
announced Exxon-Mobil Corp's Rex Tillerson as his choice for
secretary of state on Tuesday, praising the business leader as a
successful international dealmaker who has led a global
operation.

African Energy Economist: Subsidizing Nigerian inefficiency

Fuel subsidies in Nigeria remain a thorny issue. State support for gasoline and diesel prices places a huge burden on the national finances.

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