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UPDATE 1-EU chiefs launch biggest energy shake-up in half century

* Energy Union strategy meant to decrease need for Russian fuel

Russia's Putin says gas supplies to Europe could suffer if Kiev doesn't pay

NOVO-OGARYOVO, Russia, Feb 25 (Reuters) - President Vladimir Putin said on Wednesday Russia would cut off natural gas supplies to Ukraine if Kiev failed to pay, which "will create a problem" for gas transit to Europe.

Petrobras spending cuts may hurt Brazil banks, Goldman says

SAO PAULO, Feb 25 (Reuters) - Petróleo Brasileiro SA's decision to cut capital spending plans by $16 billion this year could hamper Brazilian banks with loan exposure to the oil and gas industry, especially state-controlled Banco do Brasil SA, analysts at Goldman Sachs Group Inc said on Wednesday.

COLUMN-Keystone shows environmental review process is broken: Kemp

LONDON, Feb 25 (Reuters) - "Because this act of Congress conflicts with established executive branch procedures and cuts short thorough consideration of issues that could bear on our national interest - including our security, safety and environment - it has earned my veto."

UPDATE 3-Maersk to hand $6.6 bln to investors after selling Danske stake

COPENHAGEN, Feb 25 (Reuters) - Danish shipping and oil group A.P.

UPDATE 2-Russia expects no cut in EU gas supplies, no decision on Kiev cut

* Russia says Europe should not be affected (Adds Miller letter)

Russia says will stop gas deliveries to Ukraine unless Kiev pays-Ifx

MOSCOW, Feb 25 (Reuters) - The CEO of Russian gas company Gazprom said on Wednesday Russia would stop exporting natural gas to Ukraine unless it received prepayment from Kiev for energy supplies, Interfax reported.

UPDATE 1-Encana cuts budget after 85 pct fall in operating profit

Feb 25 (Reuters) - Encana Corp , Canada's largest natural gas producer, slashed its capital budget by a quarter for the year due to a slump in global crude oil prices.

UPDATE 3-Syrian Kurds cut IS supply line near Iraq; fears for Christians mount

* No word on fate of Syrian Christians abducted by Islamic State

Refiner HollyFrontier swings to loss on $244 mln inventory charge

Feb 25 (Reuters) - U.S.

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