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CORRECTED-Oil prices below $40 not sustainable for most producers - Wells Fargo

(Corrects company's name to Diamondback Energy Inc from Diamond Energy Inc in first column.

UPDATE 2-U.S. oil rig count lowest since 2010 as drillers step up cuts -Baker Hughes

(Adds graphics to related content box) Jan 8 (Reuters) - The U.S. oil rig count this week dropped to the lowest level in over five years as energy firms stepped up the rate of idling rigs after one of the worst years in almost 30 years for drilling, data showed on Friday. Drillers removed 20 oil rigs in the week ended Jan. 8, bringing the total rig count down to 516, the least since April 2010, oil services company Baker Hughes Inc said in its closely followed

Investor confidence hurt by oil producers' weak response to falling prices-Goldman

Jan 8 (Reuters) - Investor confidence deteriorated this week because shareholders felt producers were not being responsive to West Texas Intermediate (WTI) at $35 per barrel and were focusing on their agility rather than potential production cuts, Goldman Sachs analysts said.

UPDATE 2-VW blasted for shielding emissions documents from U.S. probe

Jan 8 (Reuters) - Three U.S.

UPDATE 1-Union at BHP Billiton's Cerro Colorado copper mine in Chile to strike

SANTIAGO, Jan 8 (Reuters) - The union at global miner BHP Billiton's Cerro Colorado copper mine in Chile said on Friday that it will go on strike on Monday over failed contract negotiations.

UPDATE 2-Islamic State claims Libyan police centre bombing

TRIPOLI, Jan 8 (Reuters) - Islamic State has claimed responsibility for a suicide truck bombing on a Libyan police training centre on Thursday that killed at least 47 people, in the worst such attack since the fall of Muammar Gaddafi in 2011.

UPDATE 2-Shell's BG bid dealt blow with first shareholder dissent

* Shell confident deal will win support in Jan. 27 vote (Recasts with Standard Life, updates shares)

U.S. oil drillers cut rigs for seventh week in eight - Baker Hughes

Jan 8 (Reuters) - U.S. energy firms this week cut oil rigs for a seventh week in eight, data showed on Friday, increasing the rate of declines as crude prices tumbled to near 12-year lows after one of the worst years in almost 30 years for the rig market. Drillers removed 20 oil rigs in the week ended Jan. 8, bringing the total rig count down to 516, the least since April 2010, oil services company Baker Hughes Inc said in its closely followed report.

Finland's Fortum bids $115 mln for Polish utility

HELSINKI, Jan 8 (Reuters) - Finnish state-controlled utility Fortum said on Friday it has launched a public tender offer worth up to 106 million euro ($115 million) for Polish electricity and gas seller Duon.

Major Shell shareholder Standard Life to vote against BG deal

LONDON, Jan 8 (Reuters) - Standard Life Investments, a major shareholder in Royal Dutch Shell, said on Friday it will vote against the Anglo-Dutch's oil company's proposed $49 billion acquisition of BG Group.

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