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UPDATE 2-Continental Resources profit beats as cost cuts offset cheap oil

Aug 5 (Reuters) - Continental Resources Inc, the second-largest oil producer in North Dakota's Bakken shale formation, posted a better-than-expected quarterly profit on Wednesday as the company slashed costs to offset plunging crude prices.

UPDATE 4-IS Egypt affiliate threatens to kill Croatian hostage in 48 hours

CAIRO, Aug 5 (Reuters) - An online video purportedly from Islamic State's Egypt affiliate showed a Croatian hostage working for a French company who said the group would kill him in 48 hours if Muslim women in Egyptian jails were not freed.

Plains says California oil spill could be larger than estimated

HOUSTON, Aug 5 (Reuters) - Plains All American Pipeline LP's ruptured California oil pipeline may have spilled 41 percent more crude than currently estimated, the company said on Wednesday.

RPT-UPDATE 2-Obama defends Iran nuclear deal as U.S. diplomacy over war

WASHINGTON, Aug 5 (Reuters) - President Barack Obama defended the Iran nuclear deal on Wednesday against a furious lobbying effort by political opponents and Israel and said abandoning the agreement would open up the prospect of war.

UPDATE 1-Libya to get electricity from Egypt, Tunisia to ease blackouts -Tripoli govt

TRIPOLI/BENGHAZI, Libya, Aug 5 (Reuters) - Libya will import electricity from Egypt and Tunisia and rent generators as it struggles with power outages that have plunged its main cities into darkness, the Tripoli government said.

UPDATE 8-Oil hits multi-month lows on U.S. gasoline build worries

* EIA announces 4.4 mln barrel U.S. crude draw, more than expected

French firm CGG confirms subcontractor held by Islamic State

PARIS, Aug 5 (Reuters) - A subcontractor working for French seismic survey group CGG has been kidnapped in Cairo and is held by Islamic State, the company said on Wednesday.

Indian Government Backs US$1.48 Billion 1,200-MW Teesta Stage-III Hydroelectric Project

India’s Power Ministry recommends National Hydroelectric Power Corp. (NHPC) purchase private equity shares to ensure the US$1.48 billion 1,200-MW Teesta Stage-III hydroelectric project on the Teesta River in the northern district of Sikkim is completed.  

Top US senator: IAEA meeting triggers more concerns about Iran deal

WASHINGTON, Aug 5 (Reuters) - U.S.

U.S. officials assure Congress on Iran sanctions "snapbacks"

WASHINGTON, Aug 5 (Reuters) - Obama administration officials told lawmakers on Wednesday that sanctions relief under the Iran nuclear deal will not be allowed to be used to bankroll terrorism and said the sanctions can be "snapped back" quickly if Tehran violates the agreement.

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