Energy Update

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NEW YORK, Jan 10 (Reuters) - The average price of a gallon of regular-grade gasoline in the United States fell 1 cent over the past three weeks to $2.05, according to a Lundberg survey released on Sunday.

Air Products has awarded a contract to Technip to support the development of a grassroots hydrogen plant in Baytown, Texas, US.

State-run Indian Oil Corporation is planning to upgrade its $5.2bn Paradip refinery located in the state of Odisha, India, with an investment of Rs40bn ($600m).

* IOC to commission a reformer this month; alkylation next month

CAIRO, Jan 10 (Reuters) - Saudi Foreign Minister Adel al-Jubeir said on Sunday at an emergency Arab League meeting that if Iran continues to support "terrorism, sectarianism and violence", it would face opposition from all Arab countries.

CAIRO, Jan 10 (Reuters) - Arab foreign ministers on Sunday accused Iran of interfering in the affairs of other Middle East states and undermining regional security, as officials met at an emergency Arab League session to discuss escalating tensions in the region.

CAIRO, Jan 10 (Reuters) - Saudi Arabia's foreign minister accused Iran on Sunday of interfering in Arab affairs and undermining regional security, speaking at an emergency Arab League session called to discuss growing tensions between the regional rivals.

BENGALURU/HOUSTON, Jan 10 (Reuters) - Pain is quickly growing more acute in the new year at beleaguered U.S. shale companies as a global supply glut sinks crude further to 11-year lows, putting added financial stress on the most heavily indebted.

BRUSSELS/LONDON, Jan 9 (Reuters) - Volkswagen is unlikely to face U.S.-style fines in Europe over its emissions scandal because of a softer regulatory regime and its home country Germany's determination to protect its car industry, EU sources and legal experts say.

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