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UPDATE 2-Britain to cut taxes for North Sea oil producers by $1.4 bln

* BP, Shell shares rise, outperform index (Updates with company, analyst comments, share price, details)

UPDATE 1-U.S. crude oil inventories hit record high for fifth week - EIA

NEW YORK, March 16 (Reuters) - U.S. crude oil stocks rose last week rose to record highs for a fifth straight week while gasoline inventories fell amid strong demand for the motor fuel, data from the Energy Information Administration showed on Wednesday.

UPDATE 2-India signs energy deals with Russia's Rosneft

* Rosneft aims to finalise Indian refinery deal by end-June (Recasts, adds detail)

Nigeria and Equatorial Guinea sign maritime security agreement

ABUJA, March 16 (Reuters) - Nigeria and Equatorial Guinea signed an agreement to establish combined patrols to bolster security in the Gulf of Guinea, which has been plagued by piracy in the last few years, a spokesman for Nigeria's president said on Wednesday.

EU leaders sign letter objecting to Nord Stream-2 gas link

VILNIUS, March 16 (Reuters) - Eight EU governments have signed a letter objecting to the Nord Stream-2 project that would double the amount of gas shipped directly from Russia to Germany, according to a document seen by Reuters.

MIDEAST STOCKS-Oil rise boosts Saudi, Egypt continues post-devaluation rally

DUBAI, March 16 (Reuters) - Saudi Arabia's stock market rose on Wednesday in response to a surge in oil prices but most of the Gulf was sluggish because of profit-taking.

Brazil's Rousseff resumes talks with Lula on Cabinet post

BRASILIA, March 16 (Reuters) - Brazilian President Dilma Rousseff resumed talks on Wednesday morning with her predecessor Luiz Inacio Lula da Silva on him taking up a Cabinet post following inconclusive discussions late on Tuesday.

How Uruguay Became a Wind Power Powerhouse

When it comes to renewable energy generation, the South American country of Uruguay is a huge success story. The developing nation went from having virtually no wind generation in 2007 to become a double world-record holder in less than a decade.

UPDATE 2-Syrian Kurds set to announce federal system in northern Syria

RMEILAN, Syria, March 16 (Reuters) - Kurdish-controlled areas of northern Syria are expected to declare a federal system imminently, Kurdish officials said on Wednesday, taking matters into their own hands after being excluded from talks in Geneva to resolve Syria's civil war.

UPDATE 1-Russian withdrawal from Syria 'very positive' - Saudi Arabia

RIYADH, March 16 (Reuters) - Russia's partial withdrawal of forces from Syria is "a very positive step", Saudi Arabia's Foreign Minister Adel al-Jubeir said on Wednesday, adding he hoped it would compel President Bashar al-Assad to make concessions.

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