Energy Update

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* Says oil fundamentals won't see a sustainable shift until
Q3

SINGAPORE, April 22 (Reuters) - Oil prices rose in Asian
trade on Friday, setting crude futures on course for one of
their biggest weekly gains this year, as sentiment has become
more upbeat despite ongoing oversupply.

April 21 (Reuters) - California Public Employees' Retirement
System (Calpers) said its proposal for Anglo American Plc
to report on environmental risks associated with climate
change was passed at the miner's annual shareholders meeting.

MELBOURNE, April 22 (Reuters) - Australia's Santos Ltd
reported a 1 percent rise in first quarter revenue as
it stepped up coal seam gas sales to its Gladstone liquefied
natural gas (LNG) plant, offsetting a collapse in oil and gas
prices.

CARACAS, April 21 (Reuters) - An international arbitration
center has ordered Venezuela to pay British cattle company
Vestey Group nearly $100 million for the nationalization of
cattle ranches, pilling fresh pressure on the cash-strapped
leftist government.

* Daily action shifts from bearish to balanced - fund
manager

April 21 (Reuters) - Schlumberger Ltd, the world's
No.1 oilfield services provider, reported a 48.6 percent slump
in quarterly profit, as spending cuts by oil producers continued
to take a toll.

April 21 (Reuters) - SunEdison Inc asked a U.S.
bankruptcy judge on Thursday to appoint an independent examiner
to review recent transactions, although the company said it is
not aware of any particular wrongdoing.

April 21 (Reuters) - Schlumberger Ltd, the world's
No.1 oilfield services provider, reported a 48.6 percent slump
in quarterly profit, as spending cuts by oil producers continued
to take a toll.

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