Energy Update
Jan 30 (Reuters) - Iran has cancelled an oil conference in London next month, when Tehran was expected to reveal its new oil and gas contracts to investors, apparently over a delay in getting visas, the Seda weekly on Saturday quoted a senior Iranian official as saying.
PERTH, Jan 30 (Reuters) - A tropical cyclone gathered strength as it headed for the northwest coast of Western Australia on Saturday, forcing ports to close and mining companies to evacuate.
MEXICO CITY, Jan 29 (Reuters) - Credit ratings agency Standard & Poor's said on Friday it had downgraded the stand-alone credit profile for Mexican national oil company Pemex one notch, to BB from BB+, due to low oil prices.
(Adds details on data, context, quote) Jan 29 (Reuters) - Hedge funds raised their bullish bets on U.S. crude oil, data showed on Friday, amid expectations that oil prices finally may have bottomed, after a global supply glut has sent prices plunging to 12-year lows. Money managers, including hedge funds and other big speculators, raised their combined futures and options position in New York and London by 15,717 contracts to 68,053 in the week to Jan. 26, the U.S. Commodity Futures T
CALGARY, Jan 29 (Reuters) - Alberta's left-leaning government unveiled a new energy royalty framework on Friday that left rates unchanged on existing oil wells and oil sands projects, alleviating fears that costs would rise to punishing levels amid the worst crude price slump in decades.
HOUSTON, Jan 29 (Reuters) - Phillips 66 may consider increasing its 25 percent stake in Energy Transfer Partners' pipeline project to move North Dakota Bakken oil to Illinois and Texas, but likes its current commitment as is, President Tim Taylor told analysts on Friday.
Jan 29 (Reuters) - U.S. natural gas speculators boosted their net short positions for a second week in a row as they bet prices would continue to decline on forecasts for weak heating demand for the rest of the winter.
CARACAS, Jan 29 (Reuters) - Venezuelan Oil Minister Eulogio del Pino will visit Russia on a tour beginning on Saturday of OPEC and non-OPEC countries intended to drum up support for action to stem the tumble in crude prices, the government said.
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