Energy Update

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MOSCOW, Sept 21 (Reuters) - Russia's top natural gas producer Gazprom has sent proposals to the European Commission regarding an out-of-court settlement of an antitrust case against the company, Interfax news agency quoted a Gazprom official as saying on Monday.

* Fossil fuel subsidies down from peak, still too high (Recasts, updates with news conference)

LONDON/FRANKFURT, Sept 21 (Reuters) - Swedish buyout group EQT has received offers for its Dutch oil storage group Koole Terminals valuing the business at more than 1 billion euros ($1.1 bln), several people familiar with the deal said.

BUCHAREST, Sept 21 (Reuters) - Romania's ruling Social Democrat party (PSD) threw its backing behind Prime Minister Victor Ponta at a meeting of its executive committee on Monday, two sources who attended the meeting told Reuters.

LONDON, Sept 21 (Reuters) - Hedge funds continued to pare short positions in U.S. crude oil last week even as the previous short-covering rally ran out of steam.

In the premium category, BMA coals were the most ubiquitous this year, accounting for two-thirds of all Asian spot trades observed.

OSLO, Sept 21 (Reuters) - Major nations seem to be reducing fossil fuel subsidies but still have "ample scope" for deeper cuts in recent support of up to $200 billion a year, the Organisation for Economic Cooperation and Development (OECD) said on Monday.

DUBAI, Sept 21 (Reuters) - Gulf stock markets were little changed in thin early trade on Monday as investors prepared for an extended Eid al-Adha holiday break.

LAUNCESTON, Australia, Sept 21 (Reuters) - - If one was to compile a list of the biggest risk to metals and mining companies right now, it's unlikely that planning and executing a renewed growth strategy would the top issue.

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