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Cut in subsidies to make Brazil power costlier but more efficient

SAO PAULO, July 20 (Reuters) - Large private and foreign
groups will displace Brazil's state-led power companies in
upcoming energy auctions, causing consumer electricity bills to
rise as the BNDES development bank cuts long-standing loan
subsidies for the domestic industry.

UPDATE 1-Norway to examine competition conditions in oil industry

OSLO, July 20 (Reuters) - Norway's competition watchdog will
look into whether competition rules are being infringed in its
oil industry, the industry ministry said on Wednesday.

UPDATE 1-Musk says he's ready to launch new Tesla 'master plan'

July 20 (Reuters) - Tesla Motors Inc Chief
Executive Elon Musk said Wednesday he will roll out a new master
plan for the electric luxury car maker this evening, after hints
he intends to make Tesla a renewable energy enterprise offering
products and services beyond vehicles.

UPDATE 2-Brazil state could ban dam design used at Samarco mine

RIO DE JANEIRO, July 20 (Reuters) - A Brazilian state law to
ban upstream tailings dams, the design used at a dam that
collapsed at the Samarco iron ore mine in November, could be
approved this year, an environmental official for the state of
Minas Gerais told Reuters on Wednesday.

Phase two of rehabilitation and upgrade beginning at 40-MW Matala hydropower project in Angola

On July 18, Empresa Publica de Producao de Electricidade (PRODEL) Project Manager, Celso Pontes, announced phase one at the 40-MW Matala hydroelectric project is complete and the detailed design of the second phase is now being prepared.
 

UPDATE 4-France says 3 soldiers died in accident on Libya intelligence mission

PARIS/BENGHAZI, Libya, July 20 (Reuters) - Three French
soldiers were killed in a helicopter accident during an
intelligence-gathering mission in Libya, President Francois
Hollande said on Wednesday.

EU wants more details from Germany before deciding on Russian gas pipeline deal

BRUSSELS, July 20 (Reuters) - The European Commission, which
is due to rule on Russia's plans to pump more gas to Germany via
a land link from its Nord Stream pipeline, says it needs more
details from German regulators before making a decision.

UPDATE 9-Oil prices up 1 pct after ninth weekly U.S. crude drawdown

* Oil prices erase early losses; WTI rebounds from 2-month
low

UPDATE 1-U.S. DOT says road travel rose 2 pct in May from year earlier

July 20 (Reuters) - U.S. drivers logged 2 percent more miles
in May than a year ago, marking the 27th consecutive month of
year-over-year gains, U.S. data released on Wednesday showed, as
gas prices stayed low.

European shares get tech boost as SAP and ASML surge on results

LONDON, July 20 (Reuters) - European shares advanced on
Wednesday, with the technology sector leading the market higher
after SAP and ASML reported forecast-beating
quarterly results.

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