Energy Update

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ALGIERS, April 27 (Reuters) - Algeria's state energy company Sonatrach has demanded its service providers cut their prices by up to 15 percent as the OPEC member country tries to ward off the impact of falling oil prices, industry sources said.

DUBAI, April 27 (Reuters) - One of the United Arab Emirates' (UAE) most prominent businessmen is leading calls for regulations across the Gulf Arab region to smooth the transfer of ownership of family businesses after the death of the founder.

MOSCOW, April 27 (Reuters) - Belarussian state company Belneftekhim said on Monday the Druzhba oil pipeline was back in operation and oil supplies were flowing.

China’s $45 billion push into Pakistan is skirting one of the Indian subcontinent’s most dangerous flashpoints. The proposed 4,500-megawatt Diamer Bhasha hydropower plant would eliminate about half of Pakistan’s power shortfall and irrigate millions of acres of parched farmland. While both the U.S. and China have promised to help Pakistan court private investors for the dam, they’ve resisted putting up the cash themselves.

LAGOS, April 27 (Reuters) - The road leading to the Lagos port, which handles nearly everything that Africa's biggest economy imports, is one of the most congested in a megacity whose traffic jams are legendary.

TOKYO/ABU DHABI, April 27 (Reuters) - Japan's Inpex Corp became the first Asian oil company to get a stake in a new 40-year onshore oil concession in Abu Dhabi, joining France's Total in developing the United Arab Emirates' (UAE) biggest oilfields.

April 27 (Reuters) - Precision Drilling Corp reported a better-than-expected quarterly profit as job cuts and other cost-cutting measures helped Canada's largest drilling contractor maintain margins despite a steep decline in drilling activities.

MINSK, April 27 (Reuters) - Belarussian state company Belneftekhim said on Monday oil exports and supplies to refineries were not affected by a problem with the Druzhba pipeline.

* Brazil's oil and gas industry mired in uncertainty -company (Adds details of results, comments)

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