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UPDATE 2-Oil prices dip on stronger dollar, demand concerns

* Oil may have bottomed, but full recovery not seen before 2017 (Adds Wood Mackenzie comment, updates prices)

RPT-COLUMN-Where has the oil gone? Missing barrels and market rebalancing: Kemp

LONDON, March 8 (Reuters) - Global oil production exceeded consumption by just over 1 billion barrels in 2014/15, according to the International Energy Agency (IEA).

Amazon tribe in Peru frees hostages after negotiations

LIMA, March 8 (Reuters) - An indigenous village in the Peruvian Amazon freed public officials it had been holding hostage to press for help after a ruptured pipeline spilled 1,000 barrels of crude on its lands, the state-owned energy company Petroperu said.

Statoil awards contract to Palfinger Dreggen

Statoil has awarded PALFINGER DREGGEN the contract for complete rebuilding and upgrading of six BOP cranes for the Gullfaks field.

Amec Foster to support development of Sonatrach’s refineries in Algeria

Amec Foster Wheeler has received a contract from Algerian energy company Sonatrach to support the development three new refineries located in Biskra, Tiaret and Hassi Messaoud in Algeria.

KBR-SOCAR joint venture to support $1bn Baku oil refinery upgrade project

KBR and State Oil Company of Azerbaijan (SOCAR) joint venture has received a project management consultancy (PMC) contract for modernization of the Heydar Aliyev Baku oil refinery in Azerbaijan.

Shell selects Deep Down to supply mooring line system

Deep Down, Inc. (Deep Down), an oilfield services company specializing in deepwater and ultra-deepwater oil production distribution system support services, announced it has received an order from Shell for an umbilical and distribution system to support a production platform mooring line control system.

U.S. lawmakers seek independent review of coal cleanup subsidy

WASHINGTON, March 8 (Reuters) - Federal auditors should examine a program that has allowed leading coal companies to lower cleanup insurance costs and could leave taxpayers on the hook if the miners declare bankruptcy, Democratic lawmakers said on Tuesday.

UPDATE 2-Noble Group seeks $2.5 bln in borrowing base facility - sources

March 8 (Reuters) - Global energy firm Noble Group is in the market with a $2.5 billion, one-year borrowing base revolving credit facility that will refinance existing debt due later this year, banking sources told Thomson Reuters LPC.

CANADA STOCKS-TSX down, ends 8 days of gains; lower commods drag resource stocks

TORONTO, March 8 (Reuters) - Canada's main stock index broke an eight session winning streak on Tuesday as lower commodity prices and weak Chinese data weighed on resource stocks, but financials and defensive stocks rose and the index still held near three-month highs.

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