Energy Update

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* Jefferies sees 2015 Brent and WTI price of $60, $55.10 (Updates throughout, changes dateline, previous SINGAPORE)

LONDON, June 15 (Reuters) - Dragon Oil Plc said it agreed improved takeover terms with Emirates National Oil Co (ENOC) after the Dubai-based group increased its offer to buy out the company's minority shareholders.

MOSCOW/LONDON, June 14 (Reuters) - Some of the world's most powerful oil executives will attend Russia's top investment show this week, once again helping the organisers shrug off a meagre turnout from other leading Western industrialists and bankers.

MOSCOW/LONDON, June 14 (Reuters) - Some of the world's most powerful oil executives will attend Russia's top investment show next week, once again helping the organisers shrug off a meagre turnout from other leading Western industrialists and bankers.

--Clyde Russell is a Reuters columnist. The views expressed are his own.--

* Saudis, UAE to cut gasoline imports as refining capacity grows

LONDON, June 15 (Reuters) - Turkmenistan-focused oil explorer Dragon Oil said on Monday it had agreed improved takeover terms with Emirates National Oil Co (ENOC) after the group increased its offer to buy out the minority shareholders.

BEIJING, June 15 (Reuters) - Former PetroChina Vice Chairman Liao Yongyuan has been expelled from the Communist Party and will be prosecuted for crimes including bribery, the party said on Monday, the latest official caught up in a sweeping corruption crackdown.

The North Sea is one of the old guard for oil production, and companies are trying hard to revive its former glory. Nick Coleman digs into the basin’s future.

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