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Pemex sees production drop of 100,000 bpd with budget cuts

MEXICO CITY, Feb 29 (Reuters) - Production at Mexican state oil company Pemex is likely to fall by around 100,000 barrels per day (bpd) due to a current round of budget cuts at the firm, chief executive officer Jose Antonio Gonzalez Anaya said on Monday.<

UPDATE 11-Oil up on Saudi support, China; poll shows less OPEC output

NEW YORK, Feb 29 (Reuters) - Oil prices jumped 3 percent on Monday after China moved to boost its slowing economy and Saudi Arabia pledged to work with other crude producers to limit market volatility, developments that fed hopes the oil selloff would end.

UPDATE 1-Brazil justice minister to quit as Lula probe tension grows -sources

BRASILIA, Feb 29 (Reuters) - Brazil's Justice Minister, Jose Eduardo Cardozo, plans to resign by Tuesday, fed up with rising attacks from his Workers' Party over a wide-reaching police probe into corruption that has ensnared a number of party officials, two presidential sources told Reuters on Monday.

UPDATE 1-EU not seen increasing emissions targets despite Paris deal -draft

* EU sources say Commission will participate in 2018 dialogue

Hartek Power Connects 28 MW of Solar Projects to Grid in Punjab

Chandigarh, India-based EPC provider Hartek Power said on Feb. 26 that it has commissioned new substations required to connect 28 MW of solar power to the grid in Punjab, India.

UPDATE 1-Mexico's Pemex defers projects amid oil rout, downbeat on prices

MEXICO CITY, Feb 29 (Reuters) - Mexican state-run oil company Pemex said on Monday it would put billions of dollars worth of projects on hold to help it cope with a financial squeeze caused by a prolonged decline in oil prices, which it expects to worsen in the near term.

China, India oil buying underpins W. Africa's March flows east

* Exports to China hold close to February level * Indian buying bounces back from 13-month low By Libby George LONDON, Feb 29 (Reuters) - West African crude oil flows east are expected to stay strong in March as Chinese term buying remains elevated and several additional cargoes were booked for India, according to Reuters vessel tracking and a survey of traders. Sixty-two cargoes have been booked so far to load West African crude for buyers in Asia, including 33 for China.

UPDATE 1-Berkshire's Abel sees 2015 pay surge 48 pct to $40.77 mln

Feb 29 (Reuters) - The energy unit of Warren Buffett's Berkshire Hathaway Inc on Monday said Gregory Abel, its chairman and chief executive, saw his compensation jump 48 percent last year to $40.77 million, reflecting a large incentive award.

OPEC oil output slips from record on Iraqi disruption - survey

LONDON, Feb 29 (Reuters) - OPEC oil output has fallen in February from the highest monthly level in recent history, a Reuters survey found on Monday, due to a halt in Iraq's northern exports and outages in other producers.

Sumitomo to Acquire Up to 20 Percent Stake in Cosan's Biomass Unit

Sumitomo Corp. will acquire as much as 20 percent of Cosan Biomassa SA, a subsidiary of the world’s largest sugar company Cosan SA Industria e Comercio, Sumitomo said in a statement Friday.

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