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Sovereign funds pulled cash from world markets for third year running

LONDON, Dec 12 (Reuters) - Sovereign investors are set to
pull their petrodollars from global stock and bond markets for
the third year running in 2016, a process that is unlikely to be
reversed next year despite the rebound in oil prices.

UPDATE 1-Kremlin praises Tillerson, tipped for Sec'y of state job, as highly professional

MOSCOW, Dec 12 (Reuters) - The Kremlin on Monday praised Rex
Tillerson, front-runner to be U.S. President-elect Donald
Trump's pick for Secretary of State, as highly professional.

UPDATE 1-Norway oil investment gloom seen lasting several more years

* If oil hits $70, investment seen largely flat vs 2016

(Adds more forecasts, bullets, background)

Kremlin calls Tillerson, tipped for Sec'y of state job, a professional

MOSCOW Dec 12 (Reuters) - Rex Tillerson, the ExxonMobil
chief executive who is front-runner to be President-elect Donald
Trump's pick for Secretary of State, is highly professional and
is known personally to Russian President Vladimir Putin, a
Kremlin spokesman said on Monday.

UPDATE 1-Eni to sell 30 pct stake in Egyptian gas field to Rosneft

MILAN, Dec 12 (Reuters) - Italian energy company Eni
has agreed to sell a 30 percent stake in a giant
Egyptian offshore gas field to Russia's Rosneft for
$1.575 billion, pressing ahead with asset sales to fund
investment amid weak oil prices.

EU clears energy schemes in France, Denmark

BRUSSELS, Dec 12 (Reuters) - The European Commission on
Monday cleared four renewable energy support schemes in France,
as well as Danish support for energy intensive users, saying
they were in line with European Union rules on state aid.

UPDATE 1-Growth in global coal demand to slow over next five years - IEA

* Benchmark coal futures rise

(Adds coal price movement; adds bullet points)

UPDATE 1-JKX says Ukraine's proposed drilling tax cut bodes well for investment

Dec 12 (Reuters) - JKX Oil and Gas Plc said on
Monday that Ukraine's proposed law to reduce the country's gas
production tax to 12 percent from a maximum of 29 percent for
new wells will help the company's investment plans.

UPDATE 1-Euro zone bond markets spooked by oil price surge

* Portuguese yields highest since Feb bond-market selloff

(Writes through)

Growth in global coal demand to slow over next five years - IEA

LONDON, Dec 12 (Reuters) - Growth in global coal demand will
slow over the next five years due to lower consumption in China
and the United States and as renewable energy sources gain
ground, the International Energy Agency (IEA) said on Monday.

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