Energy Update

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LAUNCESTON, Australia, Feb 1 (Reuters) - It's probably no coincidence that Saudi Aramco revealed it is in advanced talks to buy stakes in Chinese refineries just as data came out showing that Russia toppled Saudi Arabia as China's biggest crude provider in December.

WARSAW, Feb 1 (Reuters) - Czech factory output jumped to a six-month high in January while Hungary's output bounced back after a brief contraction, but Poland's manufacturing sector slowed and business sentiment deteriorated, surveys showed on Monday.

HONG KONG, Feb 1 (Reuters) - Hong Kong regulators are considering revising the financial centre's share-suspension rules as pressure grows from hedge funds and other investors to bring them in line with Western markets, people with direct knowledge of the matter said.

* Shares to resume trading at 1100 GMT (Adds cancelling of dividend, management board given new 4-year term)

** BP tops FTSE 100 fallers' list on Exane BNP Paribas and Deutsche Bank cuts

LONDON, Jan 29 (Reuters) - Saudi Arabia has successfully defended its share of the U.S.

* But contango steepens as U.S. production to dip in 2016 (Adds comment, updates prices)

LAUNCESTON, Australia, Feb 1 (Reuters) - It's probably no coincidence that Saudi Aramco revealed it is in advanced talks to buy stakes in Chinese refineries just as data came out showing that Russia toppled Saudi Arabia as China's biggest crude provider in December.

MOSCOW, Jan 29 (Reuters) - Russian oil firms would have to pay more tax on some of their fields under reforms being prepared by the finance ministry, which is seeking to get more revenue into the budget, according to three officials and a draft of the plans seen by Reuters.

Falling crude oil production, falling refined product output and falling income have led many to believe that the sky is falling on Mexico’s state-owned oil company Pemex.

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