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Britain's wholesale gas to remain cheap this year

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.

UPDATE 1-Boosting Middle East economy is way to beat extremism -Iran president

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

UPDATE 2-Siemens raises outlook as self help starts to pay off

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

UPDATE 1-Tesco 'seriously breached' industry code, watchdog says

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.

Kazakh sovereign fund prepares for weaker oil, tenge

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.

Boosting economy is way to beat extremism -Iran president

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.

UPDATE 1-Russia beats Saudis as top China crude supplier for 4th month in 2015

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.

UPDATE 1-Kuwait sees tough 2016, oil at $40-60 to 2020 - OPEC governor

KUWAIT, Jan 26 (Reuters) - Kuwait's OPEC governor said on Tuesday that this year would be tough, with oil prices seen recovering only after 2016 but remaining between $40 and $60 a barrel until 2020.

UPDATE 1-China oil demand to grow 4.3 percent in 2016 -CNPC research

* CNPC also says natural gas use to rise 7.3 pct to 205 bcm (Adds detail, context)

Standard & Poor's downgrades Asia-Pacific energy firms as oil prices tumble

SINGAPORE, Jan 25 (Reuters) - Rating agency Standard and Poor's (S&P) on Tuesday downgraded several oil and gas companies in the Asia-Pacific region as a lower oil price forecast undermines the sector's revenue and credit outlook.

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