Energy Update

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Aug 3 (Reuters) - Loews Corp, a hotel, energy and financial services conglomerate, reported a 44 percent drop in its quarterly operating profit due to lower revenue from its Diamond Offshore Drilling Inc unit and its insurance business.

ATHENS, Aug 3 (Reuters) - Although Greece's stock market had plunged more than 18 percent by mid-session on Monday, some listings were attracting buyers at lower levels, suffering smaller losses than banks and the broader market.

** Weir falls c.2.7 pct before paring most of the losses & top loser on FTSE-350 Industrial Engineering Index after JP Morgan Cazenove terms H1 oil & gas margin as disappointing

** Dragon Oil up c.9 pct to high of 799p & on track for largest one-day move in over 3.5 yrs after the oil producer's majority shareholder raises buyout offer to 800p/shr and declared offer unconditional

* Iran says to raise output by 500,000 bpd once sanctions lifted

When it comes to pursuing new offshore oil and natural gas production, the Atlantic Coast is proving to be a tough target.

(Mon, 03 Aug 2015) Vietnam is poised to significantly transform its electrical power generation mix over the next two decades as it modernizes the country's agrarian economy to become a more industrialized nation. To accommodate greater industrial expansion and to support energy security goals, Vietnam is significantly increasing its total electricity generating capacity.

* Iran says to raise output by 500,000 bpd once sanctions lifted

(Adds industry comments) By Valerie Volcovici WASHINGTON, Aug 2 (Reuters) - President Barack Obama will unveil on Monday the final version of his plan to tackle greenhouse gases from coal-fired power plants, kicking off what is expected to be a tumultuous legal battle between federal environmental regulators and coal industry supporters.

TOKYO, Aug 3 (Reuters) - Indonesia's Donggi-Senoro liquefied natural gas (LNG) project shipped its first LNG cargo on Sunday, the project's biggest shareholder Mitsubishi Corp said.

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