CONSTRUCTION STARTED ON US' 1ST OFFSHORE WIND PROJECT .... Fed court rejected appeal from trucking, alt fuel comps v. new US fuel efficiency, GHG emissions standards .... China won't finance proposed, controversial 4.5Gw Pakistan hydropower project .... US oil rig count down 31 last week to 703. Crude stocks up 5M bls .... EIA est. US production down 18Kb/d .... US in '13 had 36.5B bls of crude, condensate reserves, up from 22.3B in '09. NG reserves 354TCF, up from 284 in '09 .... OPEC says Libya oil production ~475Kb/d in March, up from ~165K in Feb. (But no one really knows for sure.) Reportedly, a 100Kb/d field closed down over weekend .... CNOOC cutting '15 capex ~1/3 .... Mideast LNG @ $270/KCM undercutting Gazprom's $330 to Europe .... Israel warplanes recently struck missile storage depot in S Syria likely involved in moving Iran-supplied missiles to Hezbollah .... US carrier group made Iran rethink shipping supplies to Yemen .... Abu Dhabi plans to invest $25B next 5 yrs to boost offshore oil production. Part of plan to increase UAE oil production cap to 3.5Mb/d by '17-'18 .... Eni production in W Egypt now ~70Kb/d .... Repsol, partners NG discovery in E Algeria .... Nigeria near bankruptcy .... TransCanada asking US to permit up to 300Kb/d oil pipeline from N Dakota to Saskatchewan connection .... US taking over 2-yr chair of Arctic Council .... Russia making play for Argentina shale gas .... BP to sell off major N Sea asset - its stake in "CATS" NG pipeline system - for $486M.