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Brazil's power oversupply hurts distributors, consumers

SAO PAULO, March 15 (Reuters) - Brazil's high power prices and the country's worst recession in decades are causing an electricity oversupply that could cost power distributors and consumers around 3.3 billion reais ($878 million) this year, a consultant said on Tuesday.

UPDATE 1-UPS expands alternative fuels momentum with $100 mln CNG investment

March 15 (Reuters) - United Parcel Service Inc on Tuesday announced a $100 million plan to buy hundreds of new trucks that will run on compressed natural gas, saying it did not want to lose momentum on alternative fuels even though diesel prices have tanked.

Brazil minister denies he tried to interfere in Petrobras probe

Private equity emerges as lender of last resort for U.S. energy firms

NEW YORK, March 15 (Reuters) - U.S.

Energy market affected decision on Atlantic drilling -White House

WASHINGTON, March 15 (Reuters) - Energy market dynamics factored into the decision by the Obama administration to reverse course on a proposal to open the southeastern Atlantic coastal area to oil and gas drilling, the White House said on Tuesday.

European shares led lower by commodity stocks, gloomy BoJ view

* Galenica shares slump after results (Adds closing prices)

UPDATE 1-Lockheed CEO still likes Sikorsky despite slumping sales to energy sector

WASHINGTON, March 15 (Reuters) - Lockheed Martin Corp has "no regrets" about buying Sikorsky for $9 billion even though sliding oil prices have taken a bigger bite than expected from the company's commercial helicopter sales, Chief Executive Marillyn Hewson said Tuesday.

UPDATE 3-Obama administration reverses course on Atlantic oil drilling

WASHINGTON, March 15 (Reuters) - The Obama administration reversed course on Tuesday on a proposal to open the southeastern Atlantic coast to drilling as an oil price slump and strong opposition in coastal communities raised doubts about the plan.

UPDATE 2-Brazil's ex-President Lula accepts cabinet post - source

BRASILIA, March 15 (Reuters) - Brazil's former President Luiz Inacio Lula da Silva has decided to accept a position in President Dilma Rousseff's Cabinet, a presidency source said on Tuesday, a move that would offer some protection from an investigation into money laundering.

U.S. House Republicans float controversial budget plan

WASHINGTON, March 15 (Reuters) - U.S. House Republicans on Tuesday insisted they will proceed with a fiscal 2017 budget plan despite a flat-out rejection from their party's fiscal hawks that poses an important test of Speaker Paul Ryan's leadership.

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