Energy Update

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July 26 (Reuters) - General Electric Co wants to be a "sizable" player in the market for systems that store energy to manage power volatility, a sector the company expects to quadruple to $6 billion by 2020, the head of GE's energy storage business told Reuters.

DUBAI, July 26 (Reuters) - Saudi Basic Industries Corp , one of the world's largest petrochemicals groups, reported a drop in second-quarter net profit on Sunday but beat analysts' forecasts by a large margin, suggesting it was coping well with low oil prices.

DAMATURU, Nigeria July 26 (Reuters) - A blast set off by a female suicide bomber tore through a crowded market in the northeastern Nigerian city of Damaturu on Sunday, killing at least 15 people, a police spokesman said.

DAMATURU, Nigeria July 26 (Reuters) - A blast rocked a crowded market in the northeastern Nigerian city of Damaturu on Sunday, killing at least 11 people and injuring dozens, witnesses said.

ABUJA, July 25 (Reuters) - Nigerian President Muhammadu Buhari plans to split the state-owned Nigerian National Petroleum Corporation (NNPC) into two entities, his spokesman said on Saturday.

ABUJA, July 25 (Reuters) - Nigerian President Muhammadu Buhari plans to split the state oil company into two entities, his spokesman said on Saturday.

SHANGHAI, July 25 (Reuters) - The Chinese navy played down recent military drills in the South China Sea and criticised other countries for "illegally" occupying islands in the area, the official Xinhua news service reported on Saturday.

DHAKA, July 25 (Reuters) - The World Bank has signed a $15 million grant agreement with Bangladesh to increase access to clean energy for targeted rural areas through output-based aid (OBA) subsidies.

BISHKEK, July 25 (Reuters) - Kyrgyzstan, which is trying to establish the first parliamentary democracy in authoritarian post-Soviet Central Asia, will elect a new legislature on Oct.

TORONTO/JAKARTA, July 25 (Reuters) - Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session on Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices.

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