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Ukraine gas consumption may fall 5 pct in 2016 - Naftogaz

KIEV, March 23 (Reuters) - Natural gas consumption in Ukraine is likely to fall to around 32 billion cubic meters (bcm) this year from 33.7 bcm in 2015, mostly due to lower household consumption, the head of Ukraine state energy firm Naftogaz said on Wednesday.

In era of cheap oil, Saudi loses shine for foreign workers

UPDATE 1-PetroChina profit dives 70 pct in 2015 on low oil prices

* Pipeline consolidation pushes up natural gas earnings (Adds breakdown of earnings)

Russia says Turkey suppresses Kurds under pretext of fighting terrorism

MOSCOW, March 23 (Reuters) - Anakara is hindering Kurdish forces in their fight against Islamic State and using the slogan of a "war against terrorism" to suppress Kurdish organisations in Syria and Turkey, Russian Foreign Minister Sergei Lavrov said on Wednesday.

UPDATE 2-Indonesia rejects Inpex's mega floating LNG project, wants to stay onshore

* President says onshore plan to bring more economic benefits

UPDATE 1-Scramble for oil storage extends, suggesting excess has room to run

* Gasoline, gasoil stocks graphic: http://tmsnrt.rs/1q0rZks (Adds link to graphic)

PetroChina profit dives 70 pct in 2015 on low oil prices

BEIJING, March 23 (Reuters) - PetroChina , China's biggest oil and gas producer, reported a 70 percent slump in its full-year 2015 profit, with earnings upstream and in the marketing segment both taking a hit from lower prices.

UPDATE 1-Zimbabwe to ban foreign firms in breach of local ownership law

HARARE, March 23 (Reuters) - Zimbabwe will from April 1 cancel licences for foreign firms, including those operating mines and banks, that have not complied with a law to sell majority shares to locals, Empowerment Minister Patrick Zhuwao said on Wednesday.

Australia calls China's S.China Sea moves "counterproductive"

SYDNEY, March 23 (Reuters) - Australian Prime Minister Malcolm Turnbull on Wednesday called China's military deployments on the South China Sea "counterproductive", an unusually forceful rebuke against the country's biggest trading partner.

OPEC, Russia oil output freeze deal may be "meaningless" -IEA

SINGAPORE, March 23 (Reuters) - A deal among some OPEC producers and Russia to freeze production is perhaps "meaningless" as Saudi Arabia is the only country with the ability to increase output, a senior executive from the International Energy Agency (IEA) said on Wednesday.

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