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UPDATE 1-Berkshire Hathaway net falls, operating profit rises

* Q4 net income falls to $4.16 bln or $2,529 per Class A share

Berkshire Hathaway net falls, operating profit rises

Feb 28 (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Saturday said profit declined 17 percent in the fourth quarter from a year earlier, reflecting lower investment gains, though operating results improved.

BP ex-chief Browne to run Russian oligarchs' oil venture - FT

LONDON, Feb 28 (Reuters) - John Browne, the former chief executive of BP, will take charge of a $10 billion oil and gas venture backed by Russian billionaire Mikhail Fridman to help it expand internationally through partnerships and acquisitions, the Financial Times reported.

OPEC still divided even as Saudis see markets settling

Recent comments from OPEC's Nigerian president and the oil minister of top producer Saudi Arabia show just how divided the group remains after its November decision not to reduce crude output.

UPDATE 1-Union, Shell to resume talks in U.S. refinery strike on March 4

HOUSTON, Feb 27 (Reuters) - Negotiations to settle the largest U.S. refinery strike are set to resume on March 4, the union and lead oil company negotiator said on Friday, the 27th day of the work stoppage.

UPDATE 3-Mexico OKs 5 shallow water areas in Round One oil tender second leg

MEXICO CITY, Feb 27 (Reuters) - Mexico has approved draft auction terms for five shallow water areas containing around 355 million barrels of oil equivalent (boe) as part of its Round One tender opening up oil fields to foreign investors, the country's energy regulator said on Friday.

Brazil's Braskem to sign revised naphtha contract with Petrobras

RIO DE JANEIRO, Feb 27 (Reuters) - Brazil's Braskem SA , Latin America's largest petrochemical company, said on Friday it had agreed to a revised naphtha supply contract with shareholder Petrobras, staving off a threatened shutdown of its Brazilian plants.

UPDATE 2-Iran nuclear talks advancing, no deal likely next week -U.S. official

WASHINGTON, Feb 27 (Reuters) - Talks on curbing Iran's nuclear program have made substantial progress, a senior U.S.

UPDATE 1-Petrobras' services chief Dutra takes leave of absence

RIO DE JANEIRO, Feb 27 (Reuters) - Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday that the director of its corporate-services division will take a 90-day leave of absence for health reasons.

UPDATE 1-Iran nuclear talks advancing, no deal likely next week -U.S. official

WASHINGTON, Feb 27 (Reuters) - Negotiations on an agreement to curb Iran's nuclear program have advanced substantially, but difficult issues remain and a senior U.S.

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