Energy Update

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ZURICH, Jan 26 (Reuters) - Novartis wants every puff of its emphysema drug Onbrez to go into the cloud.

LONDON, Jan 26 (Reuters) - Norwegian-born billionaire John Fredriksen has teamed up with investment bank Arctic Securities to form a ship broking company aimed at taking on bigger rivals and betting on a recovery in the global shipping market.

LONDON/MILAN, Jan 26 (Reuters) - British utilities are set to benefit from low wholesale gas prices this summer and beyond even if power companies opt to do a lot more switching from coal to gas to fuel their plants.

* Europe keen to cash in on diplomatic thaw with Tehran (Adds quotes, details on more deals)

* Margins improve but are still behind General Electric (Recasts, adds analyst comments, details)

LONDON, Jan 26 (Reuters) - Tesco, Britain's biggest supermarket group, "seriously breached" a legally binding code to protect suppliers in order to prop up its own finances as it battled an industry slowdown, the country's grocery watchdog ruled on Tuesday.

ASTANA, Jan 26 (Reuters) - Kazakh sovereign welfare fund Samruk-Kazyna expects the country's tenge currency to weaken further this year alongside oil prices, its chief financial officer told Reuters on Tuesday.

ROME, Jan 26 (Reuters) - Iran wants to become a major exporting nation following the lifting of international sanctions, Iranian President Hassan Rouhani said on Tuesday, adding that economic growth was crucial to defeating extremism in the Middle East.

BEIJING, Jan 26 (Reuters) - Russia beat out Saudi Arabia as China's top crude oil supplier for the fourth month in 2015 in December due to robust demand from independent Chinese refiners that prefer shipments from the Far East over high-sulphur barrels from the Middle East.

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