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France's Hollande concerned about slow progress in climate talks

PARIS, May 20 (Reuters) - French President Francois Hollande said he was worried about a lack of progress towards a United Nations climate deal in Paris in December and called on the financial sector to decarbonise its investment portfolios.

RPT-Oklahoma set to overturn local drilling controls as backlash brews

OKLAHOMA CITY/WASHINGTON, May 20 (Reuters) - Facing a backlash over the side effects of its oil and gas boom, Oklahoma is poised to overturn an 80-year-old statute that allows cities and towns to ban drilling operations within their borders.

RPT-Flood of new cash sustains US oil firms; energy dealmakers gripe

HOUSTON, May 20 (Reuters) - U.S. oil companies, still smarting from the crude price rout, are attracting a wave of new investment from unlikely sources - hedge funds and private equity firms flocking to the energy market for the first time to bet on a rebound.

Obama: climate change poses risk to US military, national security

WASHINGTON, May 20 (Reuters) - Rising seas, thawing permafrost and longer wildfires caused by warmer global temperatures threaten U.S. military bases and will change the way the U.S. armed services defend the country, President Barack Obama is set to say on Wednesday.

Saudi Arabia, partners turn down Chinese requests for extra oil

* Middle East crude flows to China down over 10 pct since January

REFILE-UPDATE 1-U.S. says South China Sea reclamations stoke instability

JAKARTA, May 20 (Reuters) - China's land reclamation around reefs in the disputed South China Sea is undermining freedom and stability, and risks provoking tension that could even lead to conflict, U.S.

Amid yachts of rich elite, Angola's poor crushed by oil price drop

LUANDA, May 20 (Reuters) - A halving of oil prices last year has increased hardship in Angola, one of the world's most unequal countries, and stirred resentment towards President Eduardo dos Santos, the leader of Africa's second largest crude exporter for the last 36 years.

U.S. says South China Sea reclamations stoking instability

JAKARTA, May 20 (Reuters) - China's land reclamation around reefs in the disputed South China Sea is undermining freedom and stability, and risks provoking tensions that could even lead to conflict, U.S. Deputy Secretary of State Antony Blinken told a conference in Jakarta.

UPDATE 1-Asian refiners forced to get creative to stay competitive

KUALA LUMPUR, May 20 (Reuters) - Faced with competition from mammoth new refineries in the Middle East and soft fuel demand in key markets, Asian refiners are trying a variety of tactics to cope from investing in refineries in emerging markets to using cheaper energy sources.

Gulfsands Petroleum to seek short-term funding from shareholders

May 20 (Reuters) - Oil and gas producer Gulfsands Petroleum Plc said on Wednesday it was planning to seek short-term financing from some of its shareholders to use as working capital.

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