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One in seven people still live without electricity - World Bank - TRFN

BARCELONA, May 18 (Thomson Reuters Foundation) - Around one in seven people across the globe still live without electricity, despite some progress in expanding access, and nearly three billion cook using polluting fuels, the World Bank said on Monday.

Saudi Arabian Airlines fined $1.6 million for breaking EU aviation law

* EU requires airlines to pay for carbon emissions within the bloc

UPDATE 2-BP agrees to cut spending on Iraq's Rumaila field after oil price drop

* BP agrees with Iraq to cut development budget on field by $1 bln

UPDATE 8-Oil down as firmer dollar, bearish outlook offset Mideast turmoil

* Dollar beats oil back from early gains made on Mideast turmoil

Rolls-Royce to cut 600 jobs in marine unit as low oil price bites

LONDON, May 18 (Reuters) - British engineering group Rolls-Royce said it would cut 600 jobs in its Norwegian-focused marine business in response to the lower oil price, a move it said would have a "broadly neutral" impact on 2015 profits.

UPDATE 1-Goldman cuts crude outlook and oil company forecasts

* Downgrades oil sector outlook to 'cautious' from 'neutral' (Recasts, adds detail, comment)

UPDATE 1-German ministry softens CO2 emission demands for power plants

BERLIN, May 18 (Reuters) - Germany plans to force coal-fired power plant operators to reduce their CO2 emissions by 2020 by less than previously planned, according to an economy ministry document seen by Reuters on Monday, bowing to opposition from within the industry.

South Sudan rebels say killed "many" government soldiers

JUBA, May 18 (Reuters) - South Sudanese rebels killed "many" government soldiers in three days of fighting in Malakal, the capital of oil-producing Upper Nile State, a rebel military spokesman said on Monday.

UPDATE 2-OMV warns on Libya, Yemen as profit hit by oil slump

* Has hedged on oil price to protect cash flow (Recasts with comments on Libya, Yemen)

Iranian warships begin escorting Yemen-bound cargo vessel-agency

DUBAI, May 18 (Reuters) - Two Iranian warships have begun escorting the Yemen-bound Iran Shahed cargo ship in the Gulf of Aden, the vessel's captain said in remarks published by Iran's Tasnim news agency on Monday.

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