Energy Update

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BEIJING, Oct 26 (Reuters) - China has granted another two independent refineries licences to import crude oil, the country's commerce ministry said on Monday.

* Current prices do not justify new projects globally (Adds detail and further comment)

LONDON, Oct 26 (Reuters) - The Western-backed Free Syrian Army said on Monday it had not refused an offer of military support from Russia and that Moscow needs to stop targeting its bases in Syria.

LISBON, Oct 26 (Reuters) - Portugal's Galp Energia posted a stronger-than-expected 49 percent rise in adjusted quarterly net profit on Monday, boosted by higher refining margins and a steep increase in oil output in Brazil.

* Ships with half a million tonnes taking the long route to Europe

LONDON, Oct 26 (Reuters) - Reported stocks of crude and refined fuels continue to climb in the United States, pressuring on oil prices, but the stock build is concentrated in specific parts of the complex.

NEW DELHI, Oct 26 (Reuters) - India hosts its biggest-ever Africa summit this week as Prime Minister Narendra Modi seeks to challenge China's dominance on a continent that is blessed with vast natural resources and has the world's fastest-growing population.

BEHCHOKO, Northwest Territories, Canada, Oct 26 (Thomson Reuters Foundation) - D aniel T'seleie, an indigenous activist in Canada's far north, is campaigning to help his people wean themselves from a worrying dependence on imported fuel and food, recover old traditions and win greater autonomy from the government.

SINGAPORE, Oct 26 (Reuters) - Singapore plans to establish a domestic natural gas trading market to help support plans to become a centre for trading liquefied natural gas (LNG) and take advantage of the growing importance of the fuel in Asia's energy markets.

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