Energy Update

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LONDON, Aug 31 (Reuters) - UK shares steadied on Wednesday
as weakness in mining shares outweighed gains by banks, though
the FTSE 100 remained on track to post its third monthly
gain in a row.

* Jio may not earn Reliance money for at least 5 years -
analyst

DUBAI, Aug 31 (Reuters) - Saudi Arabian Energy Minister
Khalid al-Falih said the top crude exporter does not target a
specific figure for its oil production and that its output is
based on customers' needs.

MOSCOW/UFA, Russia, Aug 31 (Reuters) - Russia's decision to
postpone the privatisation of a mid-sized oil company has sent a
message to investors: for all his power, President Vladimir
Putin has failed to stop political infighting getting in the way
of business.

NICOSIA, Aug 31 (Reuters) - Cyprus signed a deal on
Wednesday for the transfer of natural gas via pipeline to Egypt,
once extraction starts of discoveries made off the Mediterranean
island.

NICOSIA, Aug 31 (Reuters) - Cyprus signed a deal on
Wednesday for the transfer of natural gas via pipeline to Egypt,
once extraction starts of discoveries made off the Mediterranean
island.

* Analysts see tighter oil market towards the end of the
year

(Adds Barclays price forecasts, updates prices)

(Wed, 31 Aug 2016) Starting with today's release of the <em>Weekly Petroleum Status Report</em> (WPSR), EIA is now publishing weekly petroleum export and consumption estimates based on near-real-time export data provided by U.S. Customs and Border Protection (Customs). EIA previously relied on weekly export estimates based on monthly official export data published by the U.S. Census Bureau roughly six weeks following the end of each reporting month.

(Wed, 31 Aug 2016) Today's publication on August 31, 2016 of the Weekly Petroleum Status Report (WPSR) is now estimating weekly exports using near-real-time data provided by U.S. Customs and Border Protection (CBP). While EIA collects data on inventories, refinery and terminal operations, and imports, EIA does not collect any export data. To estimate weekly exports, EIA had previously relied on models using official monthly export data published by the U.S.

TOKYO, Aug 31 (Reuters) - JX Holdings Inc, Japan's
biggest oil refiner by sales, has agreed to pay about 352
billion yen ($3.4 billion) in stock for TonenGeneral Sekiyu KK
, the country's third-largest refiner by sales.

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