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UPDATE 1-Oil futures drop for 3rd session on rising crude stocks, oversupply

* Global inventories to build further in Q2 -oil risk manager

RPT-COLUMN-China tackles smog with help from the World Bank: Kemp

LONDON, Feb 2 (Reuters) - China's capital has become notorious for its smog but the biggest contributors to local air pollution are industrial furnaces, district heating systems, residential fires and trucks rather than power plants.

U.S. oil falls for 3rd session on rising crude stocks, oversupply

SINGAPORE, Feb 3 (Reuters) - U.S. oil futures extended losses into a third session in early Asian trade on Wednesday as U.S.

Peru says will cut royalties in current oil contracts by July

LIMA, Feb 2 (Reuters) - Peru plans to lower the royalty payments it receives from oil companies by July in order to help them survive the oil price crisis and might allow some to postpone part of their payments, the country's energy agency, Perupetro, said on Tuesday.

BP plans additional job cuts due to lower profits

UK oil major BP has announced plans to cut 3,000 more jobs as a result of reduced earnings in 2015 due to slump in oil price.

Jacobs to carry out pre-final investment decision study for Baltic Gas project

Jacobs Engineering Group has received a contract to perform a pre-final investment decision (Pre-FID) study for the onshore gas treatment plant of the Baltic Gas project located in the Polish sector of the Baltic Sea.

USC researches develop new process to directly convert CO2 into methanol

Researchers from the USC University of Southern California found a way to directly convert carbon dioxide (CO2) from air into methanol fuel.

UPDATE 2-Brazil's Petrobras must face U.S. group lawsuits over corruption - judge

NEW YORK, Feb 2 (Reuters) - A U.S.

CORRECTED-UPDATE 1-Brazil's Petrobras must face US group lawsuits over corruption -judge

NEW YORK, Feb 2 (Reuters) - A U.S. judge ordered Petrobras , the state-run Brazilian oil company, to face class-action litigation by investors seeking to recoup billions of dollars in losses stemming from a bribery and political kickback scandal.

IMF says ready to lend to African oil producers; no requests yet

WASHINGTON, Feb 2 (Reuters) - The International Monetary Fund said on Tuesday it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding requests from the region.

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