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Shell gives green light to develop giant Gulf of Mexico field

LONDON, July 1 (Reuters) - Royal Dutch Shell has given the green light for the development of the Appomattox deepwater oil and gas field in the Gulf of Mexico, set to be the energy giant's largest floating platform in the region.

Red-hot fuel demand can't shore up the oil price alone

LONDON, July 1 (Reuters) - Sales of transport fuels have exceeded all expectations this year, making demand from reviving economies the mantra of bulls who say the oil price is well on the mend.

Brazil police uncover another fraud scheme at finance ministry

BRASILIA, July 1 (Reuters) - Brazilian police on Wednesday raided the offices of the federal tax agency and national mint as part of an investigation in a fraud scheme that allegedly channeled 100 million reais ($32.26 million) in bribes to finance ministry officials.

RPT-COLUMN-"New normal" of weak commodity prices, strong volumes in Australia forecasts: Russell

LAUNCESTON, Australia, July 1 (Reuters) - "New normal" is a term coined about China's transition to slower but hopefully more sustainable economic growth, but it can be equally applied to many commodity markets.

RPT-Petrobras history of failed plans raises doubt over new promises

RIO DE JANEIRO, July 1 (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA's long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt.

Georgia's economy slows in Jan-May from last year

TBILISI, July 1 (Reuters) - Georgia's economy has slowed to grow 2.5 percent in the first five months of this year compared with 4.5 percent in the same period last year, the National Statistics service said on Wednesday.

China launches new oil and gas trading platform - Xinhua

BEIJING, July 1 (Reuters) - A new trading platform for oil and gas was launched in China on Wednesday, state media reported, as the world's largest energy consumer looks to extend its influence over global commodity pricing.

UPDATE 4-Oil below $63 as Greece defaults, OPEC 'floods market'

* API says U.S.

UPDATE 2-Ukraine halts Russian gas imports, flows to Europe unaffected

KIEV/MOSCOW, July 1 (Reuters) - Ukraine halted natural gas imports from Russia on Wednesday after a failure to agree on a price for the third quarter, state transport monopoly Ukrtransgaz said, in talks loaded with the political tension between the two.

Chinese carbon market doldrums may undermine climate efforts

* China pledges to extend emissions trading to national scheme

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