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UPDATE 1-French oil tubing maker Vallourec to raise capital, cut jobs

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

BUZZ-BP: another day, another broker cut

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

RPT-COLUMN-How Saudi Arabia successfully defended its U.S. oil market share: Kemp

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

UPDATE 4-Oil prices slip on weak Asian data, fading prospect of output cut

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

COLUMN-Saudi's China challenge: How much can it pay for oil market share: Russell

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.

RPT-Russian finance ministry readies for fight with big oil over tax

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.

Pemex reform efforts in Mexico hobbled by oil downturn: Fuel for Thought

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.

Natural gas leak at California storage site raises environmental and reliability concerns

(Mon, 01 Feb 2016) On October 23, 2015, Southern California Gas Company (SoCalGas) detected a major leak at Aliso Canyon, an underground natural gas storage facility located 30 miles northwest of Los Angeles. The Aliso Canyon storage facility, which has 115 wells, is the second-largest natural gas storage field in the western United States.

Vallourec unveils 1 bln euro capital hike, industrial shake-up

PARIS, Feb 1 (Reuters) - Troubled French pipe maker Vallourec announced on Monday plans to raise 1 billion euros ($1.1 billion) in new capital and boost earnings through an industrial shake-up that will see it reduce its production capacity in Europe by half.

Emerson provides automation technologies for BP's Whiting refinery

Emerson Process Management, a global business of Emerson is providing process automation technologies and services to help BP further enhance the safety, reliability, and performance of its Whiting refinery in Northwest Indiana – without the costly downtime often required for such projects.

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