Energy Update

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ASHGABAT, Oct 23 (Reuters) - Japan and Turkmenistan signed deals worth over $18 billion on Friday, Japanese Prime Minister Shinzo Abe told reporters on a visit to the energy-rich Central Asian nation.

OSLO, Oct 23 (Reuters) - Seismic surveyor group TGS reported stronger than expected third quarter results on Friday and rival PGS struck a new loan deal with its banks, giving a boost to their shares.

MOSCOW, Oct 23 (Reuters) - Russian Energy Minister Alexander Novak said on Friday Kremlin-controlled gas producer Gazprom has offered gas supplies to Iran under a swap arrangement, and similar oil deals were also under consideration.

BEIJING, Oct 23 (Reuters) - China may cut on-grid wholesale prices of thermal electricity for the second time this year, state media said on Friday, a move which could reinforce the downward trend in coal prices and hit struggling coal mines.

SINGAPORE, Oct 23 (Reuters) - Zhang Nie, the Singapore oil trading head of Chinese state trader Unipec has resigned from the company after working there for 10 years, industry sources said on Friday.

* Weak local currency keeps low international copper price at bay

* Beach, Drillsearch to chase distressed assets (Recasts, adds Drillsearch, Beach, analyst comments)

* Fast-growth of Senegalese capital created sanitation problems

(Fri, 23 Oct 2015) The United Arab Emirates (UAE) was the world's sixth-largest oil producer in 2014, and the second-largest producer of petroleum and other liquids in the Organization of the Petroleum Exporting Countries (OPEC), behind only Saudi Arabia. Because the prospects for further oil discoveries in the UAE are low, the UAE is relying on the application of enhanced oil recovery (EOR) techniques in mature oil fields to increase production.

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