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UPDATE 1-Freeport-McMoRan posts quarterly loss as metal, oil prices drop

TORONTO, July 23 (Reuters) - Diversified U.S.

Vedanta says its Cairn India buyout offer is fair

MUMBAI, July 23 (Reuters) - Indian mining and energy group Vedanta Limited said on Thursday its offer to buy out minority investors in Cairn India was fair, dismissing reports that opposition from some small shareholders, including former owner Cairn Energy, could scupper the deal.

Freeport-McMoRan posts Q2 loss as metal, oil prices drop

TORONTO, July 23 (Reuters) - Diversified U.S.

Algeria's Bouteflika names new trade and agricultural ministers

ALGIERS, July 23 (Reuters) - Algeria's President Abdelaziz Bouteflika on Thursday appointed new trade and agriculture ministers, the second cabinet reshuffle this year, the presidency said, as the OPEC member tries to counter a fall in energy earnings.

UPDATE 1-Drillers Patterson-UTI, Precision gain from high-tech rig demand

July 23 (Reuters) - Two North American land drilling-rig operators - Patterson-UTI Energy Inc and Precision Drilling Corp - issued positive outlooks on Thursday, highlighting the competitive advantage of drillers using newer, high-tech rigs.

UPDATE 1-Undelivered Mistrals cost French shipbuilder DCNS 1 mln euro/mth

PARIS, July 23 (Reuters) - State-backed French naval shipbuilder DCNS is spending at least 1 million euros ($1.1 million) a month to hold on to two Mistral helicopter carriers that were sold to Russia in a deal now being reversed, its chief executive said on Thursday.

UPDATE 2-Iran eyes $185 bln oil and gas projects after sanctions

* Iran wants "two-way trade" with Europe - minister (Update with more comment, details)

Land driller Patterson-UTI swings to quarterly loss

July 23 (Reuters) - Land rig provider Patterson-UTI Energy Inc swung to a quarterly loss as oil and gas producers cut back on drilling amid a steep drop in crude prices.

Iran says to introduce new oil contract in 2-3 months

VIENNA, July 23 (Reuters) - Iran aims to introduce a new petroleum contract internationally in the next two to three months, its deputy oil minister said on Thursday, part of the Islamic Republic's plan to boost output post-sanctions.

As pump prices drop, U.S. motorists splurge on premium gas

NEW YORK, July 23 (Reuters) - U.S. motorists' habit of filling up with costlier "premium" gasoline when pump prices drop is delivering extra profits to refiners, such as Royal Dutch Shell and traders like Noble Group.

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