Energy Update

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BEIJING, March 8 (Reuters) - China is pursuing efforts to resolve the problem of a stalled dam project in Myanmar, its foreign minister said on Tuesday, adding that Beijing had confidence in the incoming government of democracy leader Aung San Suu Kyi's party.

* Prices, sales volumes fell in 2015, further declines expected

* Rising prices likely to cool demand from new Chinese buyers

(Tue, 08 Mar 2016) Nearly 18 gigawatts (GW) of electric generating capacity was retired in 2015, a relatively high amount compared with recent years. More than 80% of the retired capacity was conventional steam coal. The coal-fired generating units retired in 2015 tended to be older and smaller in capacity than the coal generation fleet that continues to operate.

(Tue, 08 Mar 2016) The North Sea Brent front month futures price rose $2.83 per barrel (b) from February 1 to settle at $37.07/b on March 3. The West Texas Intermediate (WTI) front month futures price rose $2.95/b and settled at $34.57 over the same period.

(Tue, 08 Mar 2016) North Sea Brent crude oil prices averaged $32/barrel (b) in February, a $1/b increase from January.
Brent crude oil prices are forecast to average $34/b in 2016 and $40/b in 2017, $3/b and $10/b lower than forecast in last month's STEO, respectively. The lower forecast prices reflect oil production that has been more resilient than expected in a low-price environment and lower expectations for forecast oil demand growth.

* New crude import quotas, stockpiling demand boost imports (Adds detail)

BEIJING, March 8 (Reuters) - China's crude oil imports in February rose 20.2 percent on a daily basis compared to same month last year, reaching a new record, official customs data showed on Tuesday.

* $50 oil to become the new anchor for global oil prices -PIRA

WASHINGTON, March 7 (Reuters) - Hillary Clinton's vow to regulate oil and gas fracking almost out of existence was met with skepticism Monday, failing to convince either industry or environment groups that she would - or could - end the controversial drilling practice if she becomes president.

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