Energy Update

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LONDON, July 10 (Reuters) - A brief period of high profitability for the world's oil refineries is likely to come to an end as quickly as it began, the International Energy Agency (IEA) said on Friday.

VIENNA, July 10 (Reuters) - British Foreign Secretary Philip Hammond said on Friday major powers and Iran were making slow progress, but that ministers would reconvene tomorrow to try and overcome the final hurdles.

ABUJA, July 10 (Reuters) - Italian oil major Eni said on Friday an explosion at a repair site on one of its Nigerian oil pipelines killed 12 people and injured three on Thursday afternoon.

* Stock crash inflicts pain on China-exposed companies across Asia

BAGHDAD, July 10 (Reuters) - Iraq's top Shi'ite cleric Grand Ayatollah Ali al-Sistani said on Friday regional states were not doing enough to stop the flow of militants into Iraq, and warned that the fighters would return one day to threaten their home countries.

* Shares up more than 5 percent (Adds analyst, background, share price reaction, valuation)

LONDON, July 10 (Reuters) - Tremendous demand for gasoline in the United States has pushed refining margins for motor fuel to the highest seasonal level in a decade.

BANGKOK, July 10 (Reuters) - PTT PCL has signed a franchise deal with U.S.-based fast food chain Texas Chicken as Thailand's largest energy firm tries to boost its revenue from non-oil businesses amid weak crude oil prices.

* Market awaits news on Iran nuclear talks; U.S.

LONDON, July 10 (Reuters) - Oil prices are set to come under further pressure from easing global demand and an expanding glut of crude while a rebalancing of the markets may last well into next year, the West's Energy watchdog said on Friday.

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