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UPDATE 1-BoE warns insurers of possible 'huge hit' over fossil fuels

LONDON, March 3 (Reuters) - Insurers may face a "huge hit" if they end up being wrongfooted by rule changes linked to climate change, the Bank of England (BoE) said on Tuesday.

India widens oil leaks probe to defence ministry; security concerns grow

NEW DELHI, March 3 (Reuters) - India has widened an investigation into leaks of confidential documents from its oil ministry to include the defence ministry, raising fears that other secrets vital to national security may have fallen into the wrong hands.

UPDATE 1-CEZ beats 2014 guidance, sees profit falling in 2015

PRAGUE, March 3 (Reuters) - Czech electricity producer CEZ expects its adjusted net profit to drop by 8.5 percent to 27.0 billion crowns ($1.1 billion) in 2015 as falling power prices cut into earnings for a sixth straight year, the company said on Tuesday.

REUTERS SUMMIT-Kenya plan needs oil price rebound-Africa Oil

NAIROBI, March 3 (Reuters) - Oil prices would probably need to rise to about $75 to $85 a barrel from around $60 currently for Tullow Oil and Africa Oil to go ahead with their Kenyan project, the chief executive of Africa Oil said.

UPDATE 2-Brent crude up $1 to over $60.50 as global markets firm

* But high U.S., Middle East production maintains supply glut

UPDATE 1-Cakra bids for Cokal in play for Indonesia coal project

* Cokal shares jump 26 pct, hold below offer value (Adds Cokal, Cakra executives' comments)

Oil production in federal Gulf of Mexico expected to continue increasing

(Tue, 03 Mar 2015) Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million barrels per day (bbl/d) in 2015 and 1.61 million bbl/d in 2016, or about 16% and 17% of total U.S. crude oil production in those two years, respectively.

Oil prices rise as global markets firm, dollar comes off highs

* But high U.S., Middle East production maintains supply glut

China state-owned firms' overseas assets are not audited - Xinhua

SHANGHAI, Mar 3 (Reuters) - China does not audit the 4 trillion yuan ($637.42 billion) of assets its state-owned enterprises (SOE) hold overseas, Xinhua news agency reported, highlighting difficulties the government faces when expanding its anti-corruption drive to SOEs.

RPT-Philippines suspends Reed Bank drilling in S.China Sea - Philex unit

MANILA, March 3 (Reuters) - The Philippine government has suspended all exploration work at the Reed Bank in the South China Sea "until further notice", a unit of Philex Petroleum Corp said, as the country pursues international arbitration over territorial disputes.

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