Energy Update

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DUBAI, Jan 18 (Reuters) - Iran has issued an order to increase crude oil production by 500,000 barrels a day, the deputy oil minister was quoted as saying on Monday, implementing its policy to boost production as soon as sanctions were lifted.

LONDON, Jan 18 (Reuters) - Royal Dutch Shell said on Monday it had decided to exit the multi-billion dollar plan to jointly develop the Bab sour gas field in Abu Dhabi, citing the downturn in the oil market.

DUBAI, Jan 18 (Reuters) - Iran has issued an order to increase crude oil production by 500,000 barrels a day, the deputy oil minister was quoted as saying on Monday, implementing its policy to boost production as soon as sanctions were lifted.

LAUNCESTON, Australia, Jan 18 (Reuters) - - In contrast to the carnage in crude oil markets, liquefied natural gas (LNG) prices in Asia have enjoyed relative stability for the past three months, but it's unlikely the calm will persist much longer.

LONDON, Jan 18 (Reuters) - OPEC forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the producer group.

* Central, eastern European nations also oppose (Adds quotes, background)

Jan 18 (Reuters) - Canadian oil and gas producer Suncor Energy Inc said it reached an agreement to buy Canadian Oil Sands Ltd, after raising the all-stock offer, valuing the deal at about C$6.6 billion ($4.55 billion), including debt.

* Also to be launched in Italy, U.S., Britain (Adds details on product, context on industry)

BRUSSELS, Jan 18 (Reuters) - Polish President Andrzej Duda said on Monday plans to build a new pipeline to pump Russian gas to Germany bypassing Ukraine is dictated by politics rather than economics and undermines the European Union's solidarity.

BRUSSELS, Jan 18 (Reuters) - Polish President Andrzej Duda said on Monday plans to build a new pipeline to pump Russian gas to Germany bypassing Ukraine is dictated by politics rather than economics and undermines the European Union's solidarity.

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