Energy Update

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LONDON, Feb 9 (Reuters) - The world's top oil trader Vitol sees global oil demand growing by up to 1 million barrels per day (bpd) in 2016, sharply decelerating from last year as the effect of low oil prices fades.

Bernardo Fallas lists five themes to watch as polymer and petrochemical markets continue changing in the beginning of 2016, from the US to various parts of Latin America.

COPENHAGEN, Feb 9 (Reuters) - Denmark's Vestas beat forecasts with record orders for new wind turbines last year, signalling continued strong demand for renewable energy despite a plunge in fossil fuel prices.

LONDON, Feb 9 (Reuters) - The world will store unwanted oil for most of 2016 as declines in U.S.

CALGARY, Alberta, Feb 9 (Reuters) - Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects.

The London Oil Forum's attendees were eager to share their thoughts about the global oil industry, including about supply, demand and prices.

DUBAI, Feb 9 (Reuters) - Iraq has raised the March official selling price (OSP) for Basra Light crude to Asia by $0.20 to minus $2.60 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization (SOMO) said.

The venerable M-grade, a benchmark in the gasoline trade for decades, soon would lose some of its influence under a change proposed by the nation’s largest pipeline.

NEW YORK, Feb 9 (Reuters) - U.S. oil and gas pipeline companies including Williams Companies Inc and Kinder Morgan Inc have contracts worth billions of dollars that might be at risk as Chesapeake Energy Corp aims to slash its debts amid collapsing energy prices.

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