Energy Update

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ATHENS, Aug 26 (Reuters) - Greece's privatization agency said on Wednesday that Azerbaijan's state-owned oil company SOCAR had confirmed its interest in acquiring a stake in Greek gas grid operator DESFA, with a deal possible by the end of the year.

LONDON/MILAN, Aug 26 (Reuters) - Trafigura is blazing a trail for trade houses, adopting highly successful tactics used in oil markets, to get an edge in the burgeoning liquefied natural gas (LNG) sector.

Aug 26 (Reuters) - Schlumberger Ltd, the world's No.1 oilfield services company, said it will acquire oilfield equipment maker Cameron International Corp in a deal valued at $14.8 billion.

LONDON/MOSCOW, Aug 26 (Reuters) - When oil futures markets crash - as they have this summer - physical markets often move the other way as refiners jump on the opportunity offered by cheap oil to stockpile.

BEIJING, Aug 26 (Reuters) - China's top offshore oil producer CNOOC Ltd said its consolidated first-half net profit fell 56.1 percent, as a precipitous drop in crude prices offset higher production.

JOHANNESBURG, Aug 26 (Reuters) - South Africa's Eskom said on Wednesday it wants compensation from Glencore's mining subsidiary Optimum if it is unable to supply coal to its Hendrina power plant.

JOHANNESBURG, Aug 26 (Reuters) - South Africa's Eskom said on Wednesday it wants compensation from Glencore's mining subsidiary Optimum if it is unable to supply coal to its Hendrina power plant.

JOHANNESBURG/DAKAR, Aug 25 (Reuters) - A fresh U.S. trade pact could provide relief to African economies buffeted by the commodities slump but a failure to reform during the boom years has left many countries unable to profit from tariff-free access to the world's largest market.

* Also, concerns over weakening demand in other emerging mkts

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