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EU nations agree to let European Commission vet gas, oil deals

BRUSSELS, Dec 7 (Reuters) - EU nations agreed on Wednesday
to allow the European Commission to vet their oil and gas deals
with third countries like Russia to guard against
anti-competitive practices and supply disruptions.

UPDATE 1-Britain's FTSE hits one-month high as banks and miners lead cyclical charge

* WPP falls on reported DOJ probe

(Recasts, adds detail and updates prices at close)

China pledges to increase openness with foreign investment rules

BEIJING, Dec 7 (Reuters) - China moved towards opening up
markets such as railway equipment and vehicle batteries on
Wednesday with the publication of draft foreign investment
guidelines which it said would "increase openness to the outside
world".

Red-Dead project in the Middle East will include hydropower

On Dec. 3, the government of Jordan announced it has raised about US$400 to finance the first phase of the US$10 billion Red Sea-Dead Sea Water Conveyance Project (Red-Dead).
 

RPT-UPDATE 1-U.S. crude draws down, products build as refiners ramp up - EIA

Dec 7 (Reuters) - U.S. crude stockpiles fell last week
despite a hefty build at the Cushing, Oklahoma hub while
gasoline and distillate inventories rose as refining rates
picked up, the U.S. Energy Information Administration said on
Wednesday.

UPDATE 1-U.S. crude draws down, products build as refiners ramp up - EIA

Dec 7 (Reuters) - U.S. crude stockpiles fell last week
despite a hefty build at the Cushing, Oklahoma hub while
gasoline and distillate inventories rose as refining rates
picked up, the U.S. Energy Information Administration said on
Wednesday.

Shift happens: The slow apocalypse coming for the shipping industry

2020 is the shipping industry’s Y2K: lowering the marine fuel sulfur limit to 0.5% will be a big, costly affair. But the change has been a long time coming.

UPDATE 1-Russian oil firms discussed output cuts, no quota recommendations

MOSCOW, Dec 7 (Reuters) - Russian companies support Energy
Ministry proposals to cap oil output as part of a global deal, a
ministry spokeswoman said on Wednesday as Moscow prepares to
finalise the agreement with OPEC and other producer nations this
weekend.

UPDATE 1-OPEC, U.S. begin "cat and mouse" oil game as producers pounce on hedges

* Brent, WTI futures spreads graphic http://reut.rs/2hiCXxl

(Updates to include graphic. No changes to text)

UPDATE 2-SunPower to cut 25 pct jobs, close plant in cost-cutting effort

Dec 7(Reuters) - SunPower Corp, the No. 2 U.S.
solar panel maker, said on Wednesday it would lay off about 25
percent of its workforce, or 2,500 employees, and close one
plant as part of a cost-cutting plan announced last month to
counter slumping prices.

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