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Kuwait raises gasoline prices, following Gulf neighbors

Kuwait skyline. (Image: Khaleel Haidar via Flickr)

KUWAIT CITY (AP) — Kuwait will raise its subsidized gasoline prices by as much as 83 percent beginning in September, becoming the last Gulf nation to do so as low global oil prices continue to gnaw away at governments across the region. Kuwait’s Cabinet announced the decision on Monday, with the biggest price hike coming for its premium-grade gasoline. As ...

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China’s nuclear power ambitions sailing into troubled waters

China, nuclear energy

BEIJING (AP) — China’s ambitions to become a pioneer in nuclear energy are sailing into troubled waters. Two state-owned companies plan to develop floating nuclear reactors, a technology engineers have been considering since the 1970s for use by oil rigs or island communities. Beijing is racing Russia, which started developing its own in 2007, to get a unit into commercial ...

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Paradox nation: Norway, a climate leader making money on oil

Norway, offshore drilling

STAVANGER, Norway (AP) — Norway wants to get rid of gasoline-fueled cars, plans to become carbon neutral by 2030 and spends billions on helping poor countries reduce their carbon footprints. Meanwhile, it’s pushing ever farther into the Arctic Ocean in search of more oil and gas. “We know there is a paradox,” admits Vidar Helgesen, Norway’s climate and energy minister. ...

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Massacres leave 16 dead in neighboring Mexican states

pemex pipeline theft, massacres

MEXICO CITY (AP) — Two massacres have left at least 16 people dead in the neighboring Mexican states of Michoacan and Guerrero. A statement from the Michoacan state prosecutors’ office said nine burned bodies were found inside an SUV in the municipality of Cuitzeo in an area with pipelines run by state oil company Petroleos Mexicanos. Prosecutors said there were ...

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France’s Total profit falls 30 percent due to oil price drop

In this Feb.5, 2013 file photo, the logo of the French oil giant Total SA is seen at the entrance of the company headquarters in the La Defense business district, west of Paris. The French company said Thursday Feb.11, 2016 that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.(AP Photo/Jacques Brinon, File)

PARIS (AP) — French energy company Total SA says its net income fell 30 percent in the second quarter to $2.09 billion due to the impact of lower oil prices. The Paris-based company said its sales for the April-June period were $37.22 billion, down from $44.72 billion in the year-earlier period. Chairman and CEO Patrick Pouyanne said the company will ...

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Libya army commander threatens to target oil tankers

Libyan national oil company chief Mustafa Sanalla reacts during an interview in London, Monday, Jan. 25, 2016. The head of Libya’s state oil corporation is appealing for political factions to forge a unity government, saying that without a single government there will be “neither security nor stability. Mustafa Sanalla believes that the country will become a failed state without action soon.(AP Photo/Kirsty Wigglesworth)

BENGHAZI, Libya (AP) — Libya’s chief of staff on Tuesday threatened to target foreign oil tankers if they entered territorial waters, after a controversial deal was struck between the United Nations envoy and a militia commander in control of the oil terminals. The agreement between U.N. Envoy to Libya Martin Kobler and militia leader Ibrahim Jedran, has been widely criticized ...

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European development bank considers funding Trans Adriatic Pipeline

European pipeline, Trans Adriatic pipeline

TIRANA, Albania (AP) — The European Bank for Reconstruction and Development is looking to support financially the development of the Trans Adriatic Pipeline, which plans to bring gas across the Balkans and on to Italy. President Suma Chakrabarti told Albanian Prime Minister Edi Rama during a visit Tuesday that the pipeline project was of great interest as it would help ...

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Solar plane’s arrival highlights UAE’s clean-energy push

ABU DHABI, United Arab Emirates (AP) — The United Arab Emirates might not seem like an obvious spot to begin and end a globe-spanning flight promoting renewable energy. It is OPEC’s fourth biggest oil producer, after all, where gas guzzlers rule the road and the air conditioning is always on — not just at its indoor ski slope. Its oil ...

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10 Things to Know for Tuesday

Dem convention, Al Franken

Your daily look at late-breaking news, upcoming events and the stories that will be talked about Tuesday: 1. CLINTON CONVENTION TRIES TO END DEMOCRATIC DISUNITY Hillary Clinton’s campaign sought to squelch a political firestorm over hacked emails that deepened dissent among Bernie Sanders’ supporters, turning to some of the party’s biggest stars to heal divisions on the Democratic convention’s opening ...

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8 companies seek oil drilling rights for 3 areas off Cyprus

Cyprus, offshore oil drilling

NICOSIA, Cyprus (AP) — Cyprus’ energy minister says eight companies have formally applied to carry out exploratory oil and gas drilling in waters off the island’s southern coast. Yiorgos Lakkotrypis says six applications for a drilling license were submitted for all three blocks, or areas, that were available as part of the island nation’s third licensing round. He said the ...

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