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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.

UPDATE 1-Mitsui to record first annual loss on writedowns on copper, LNG assets

* Sees Y70 bln loss in FY15/16, vs prior f'cast of Y190 bln profit

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

LONDON, March 23 (Reuters) - Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production.

Mitsui sees around $620 mln annual loss on writedowns on copper, LNG assets

TOKYO, March 23 (Reuters) - Japanese trading firm Mitsui & Co said on Wednesday it expected a net loss of 70 billion yen ($623 million) for the business year to March 31, against an earlier forecast for a profit of 190 billion yen, hit by hefty one-off losses in its copper and other resource assets.

UPDATE 3-Woodside scraps Australian Browse LNG project as glut bites

* Partner Mitsui books $356 mln impairment (Adds Mitsui impairment)

Indonesia decides against Inpex floating LNG project plan, goes with onshore proposal -president

JAKARTA, March 23 (Reuters) - Indonesia has decided against a proposal by Japanese oil and gas company Inpex Corp to build a floating liquefied natural gas project in eastern Indonesia and will proceed with plans to process the gas onshore instead, the president said on Wednesday.

Fuss over "missing" 800,000 barrels: 'Get over it,' says IEA official

Has the hoo-ha over 800,000 "missing barrels", flagged by the IEA, gone too far? Platts Vandana Hari investigates.

RPT-In oil rout, some US energy bosses were spared the pain

BOSTON/NEW YORK, March 23 (Reuters) - More cash, lower targets and bigger share awards - not all U.S.

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