Energy Update

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LONDON, Sept 24 (Reuters) - OPEC's bid to curb production of high-cost oil is taking time to produce results but the organisation is already making good progress on its other objective of stimulating fuel demand.

PennTex Midstream Partners has commissioned UOP Russell modular gas processing plant in northern Louisiana, US.

BISMARCK, N.D., Sept 24 (Reuters) - North Dakota regulators on Thursday gave the energy industry 10 extra months to reduce the amount of natural gas burned off at oil wells, acquiescing to industry worries that construction delays have made it all but impossible to meet existing targets.

SAO PAULO, Sept 24 (Reuters) - Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run oil firm Petroleo Brasileiro SA, Brazilian court documents showed.

BISMARCK, N.D., Sept 24 (Reuters) - North Dakota regulators on Thursday gave the energy industry 10 extra months to curb the amount of natural gas burned off at oil wells, acquiescing to industry worries that construction delays have made it all but impossible to meet existing targets.

CALGARY, Alberta, Sept 24 (Reuters) - Pipeline company TransCanada Corp will cut 20 percent of its senior management positions as a continuing slump in oil prices has necessitated cost reductions, with further staff cuts possible in the future, a company spokesman said on Thursday.

BEIRUT and GENEVA, Sept 24 (Reuters) - Warring sides in Syria have reached an agreement under UN supervision over the fate of two villages in the northwest and a town near the Lebanese border, sources familiar with the talks said on Thursday, as a ceasefire in the areas held.

BAGHDAD/WASHINGTON, Sept 24 (Reuters) - The Iraqi army's failure to recapture the country's largest oil refinery from Islamic State after 15 months of fighting is calling into question the government's plans to retake the northern city of Mosul from the jihadists.

BEIRUT and GENEVA, Sept 24 (Reuters) - Warring sides in Syria have reached an agreement under UN supervision over the fate of two villages in the northwest and a town near the Lebanese border, sources familiar with the talks said on Thursday, as a ceasefire in the areas held.

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