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Australia seeks answers after China rejects coal cargoes

SYDNEY, July 2 (Reuters) - Australia's government is looking into allegations by an industry group that Australian coal cargoes are being unfairly rejected by China.

German coalition to spend extra 1.16 billion euros on climate goals

BERLIN, July 2 (Reuters) - Germany's ruling coalition of conservatives and Social Democrats (SPD) agreed overnight to spend an extra 1.16 billion euros by 2020 to reduce greenhouse gas emissions, a government paper showed.

Brown coal reserve to cost about 230 mln euros per year-German Econ Min

BERLIN, July 2 (Reuters) - German Economy Minister Sigmar Gabriel said on Thursday the planned brown coal power reserve of 2.7 gigawatts will cost about 230 million euros per year.

German brown coal firms to get compensation to join reserve-document

BERLIN, July 2 (Reuters) - Operators of brown coal power plants in Germany who will participate in a new reserve to provide electricity in the case of shortages will receive 'cost-based compensation', according to a German government document seen by Reuters on Thursday.

India's $100 bln solar push draws foreign firms as locals take backseat

NEW DELHI/MUMBAI, July 2 (Reuters) - India's $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector.

UPDATE 1-Germany to shutter brown coal-fired plants, extend power grid

BERLIN, July 2 (Reuters) - Germany agreed on Thursday to mothball about five of the country's largest brown coal power plants to meet its climate goals by 2020, after months of wrangling between the parties in Chancellor Angela Merkel's coalition.

UPDATE 2-Oil prices edge up after sliding on U.S. stock build

* Russian seaborne crude exports edge up (Adds Russian output, updates prices)

UK's Hunting says profit sinks 76 pct in five months on oil woes

July 2 (Reuters) - Oilfield services company Hunting Plc said profit from operations slumped 76 percent in the first five months, hurt by a drop in global rig counts and continued decline in the oil and gas market.

German Econ Min-taxpayers wont pay for nuclear phaseout provisions

BERLIN, July 2 (Reuters) - German Economy Minister Sigmar Gabriel said on Thursday the leaders of Chancellor Angela Merkel's ruling coalition agreed in overnight talks that taxpayers should not end up paying for provisions for the costs of the country's nuclear phaseout.

South Korea turns to cheap spot crudes as glut grows

* S.Korea spot imports hit 32 pct in Jan-May vs 26 pct yr ago

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