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Duo gets design contract for massive Saudi maritime yard

KHOBAR, Saudi Arabia, Oct 11 (Reuters) - A joint venture of
HaskoningDHV UK and Hyundai Engineering & Construction Co
has been awarded a contract to design the
infrastructure for the Ras Al Khair maritime yard in Saudi
Arabia, a statement from the firms said on Tuesday.

UPDATE 1-China appears to push back on U.S. bid to choke N.Korea coal exports

UNITED NATIONS, Oct 11 (Reuters) - China appears to have
pushed back on a U.S. bid to close a U.N. loophole that allows
North Korea to export coal for "livelihood purposes," saying the
well-being of North Koreans is a priority in negotiations on
possible new U.N. sanctions on Pyongyang.

UPDATE 1-IEA says oil market may rebalance faster if OPEC sticks to target

LONDON, Oct 11 (Reuters) - Global oil supply could fall in
line with demand more quickly if OPEC and Russia agree to a
steep enough cut in production, but it is unclear how rapidly
this might happen, the International Energy Agency said on
Tuesday.

UPDATE 1-Kazakh President Nazarbayev treated for cold before Armenia visit

ALMATY, Oct 11 (Reuters) - Kazakh President Nursultan
Nazarbayev is being treated for a cold, his office said on
Tuesday, prompting speculation that the illness was diplomatic.

Hyundai Motor's S. Korea union to resume wage talks with firm after strikes

SEOUL, Oct 11 (Reuters) - The union that represents most
workers at Hyundai Motor Co's South Korea factories
plans to resume wage talks with management on Wednesday after
months of strikes in the automaker's worst-ever industrial
dispute, disrupting output at its key domestic production base.

European stocks slip as shares of oil majors retreat

LONDON, Oct 11 (Reuters) - European stock markets fell on
Tuesday, with a pullback in the shares of major oil companies
weighing on markets.

UPDATE 2-Oil prices fall from one-year highs on output cut doubts

* Analysts see increased likelihood of deal to cut
production

Hong Kong-based Winson Oil buys ship to store oil in Europe

* Buys VLCC to store gasoil in Mediterranean -company
sources

On Thursday, EIA's weekly crude oil inventory will be presented without lease stocks

(Tue, 11 Oct 2016) Starting with the <em>Weekly Petroleum Status Report</em> (WPSR) published on Thursday, October 13, the U.S. Energy Information Administration will no longer include crude oil lease stocks in U.S. total commercial crude oil inventory data. Crude oil lease stocks refer to oil (currently about 31 million barrels' worth) that is stored in tanks at sites across the United States where producers are drilling on leased land.

UPDATE 1-BP scraps plan to drill off Australia's south coast

* Green groups cheer BP's exit

(Adds resource estimate, green group and industry comments)

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