Energy Update

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LONDON, June 15 (Reuters) - Company earnings are on the rise in Europe and shareholders are feeling the benefit, with more profits being paid to investors than at any time in at least the last five years.

* Varo Energy's refining-storage-retail model mimics oil majors

MARACAIBO, Venezuela, June 16 (Reuters) - Venezuela's Oil Minister Asdrubal Chavez predicted on Tuesday that crude prices will rise by the end of the year, and called for continued cooperation between OPEC and non-OPEC producers.

* France, Malta, Belgium and Spain also need to boost efforts

LONDON, June 16 (Reuters) - Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday.

LONDON, June 16 (Reuters) - North Dakota's crude oil output has peaked, according to the latest production data published by the state government, as the slump in prices takes its toll.

* FIFA "reluctant to accept this unilateral approach" (Adds background, detail)

ZURICH, June 16 (Reuters) - FIFA says it is "disappointed" about the Nobel Peace Center's decision on Monday to end its cooperation on the Handshake for Peace Initiative.

DHAKA, June 16 (Reuters) - Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Swiss Singapore Overseas Enterprises at a discount of 10 cents to Singapore quotes, slightly up from the last sale.

* France, Malta, Belgium and Spain also need to boost efforts

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