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RPT-500 days out, Rio risks Olympics cost surge as building lags

RIO DE JANEIRO, May 8 (Reuters) - With less than 500 days until Rio de Janeiro hosts the Olympic Games, construction of several venues has not started and some major contracts have not even been tendered, setting the stage for a last-minute rush that will likely drive up costs.

RPT-No experience, no problem: Alberta's NDP rookies scramble to govern

CALGARY, Alberta, May 7 (Reuters) - Alberta's new left-leaning government, which sensationally ended the Conservative party's 44-year run in Canada's energy heartland this week, is undertaking a crash course that could be called: "Ruling for Rookies."

UPDATE 2-BG says still happy with Shell bid as oil price rise boosts LNG

LONDON, May 8 (Reuters) - BG Group said on Friday it was still happy with Shell's $70 billion takeover bid despite a recent upturn in oil prices that led the company to increase the profit outlook for its liquefied natural gas (LNG) business.

Energy, transport deals on the agenda as China's Xi visits Russia

SHANGHAI/BEIJING, May 8 (Reuters) - Energy, transport and finance deals are likely to be on the agenda as Chinese President Xi Jinping meets his Russian counterpart Vladimir Putin during a three-day visit to Russia, where he will attend World War Two commemorations.

UPDATE 1-Norway's Kvaerner lifts guidance but warns of waning orderbook

* Raises FY revenue guidance to 12-13 bln crowns from 10-11 bln

Asian thermal coal markets remain under pressure due to oversupply, low prices

Platts editors talk about the drop in Chinese imports, production volumes in Indonesia, and the issues preventing more deals for Indian buyers.

China's Social Security Fund eyes stake in Brightoil -sources

HONG KONG, May 8 (Reuters) - A HK$1.3 billion ($168 million) sale of shares in Brightoil Petroleum has attracted interest from investors including China's Social Security Fund, two sources close to the deal said, underscoring support for the country's mixed-ownership reforms.

UPDATE 1-Poland's PGNiG profit rises as gas import costs fall

WARSAW, May 8 (Reuters) - PGNiG, Poland's biggest gas distributor, on Friday reported a 5 percent rise in first-quarter net profit, beating expectations, due to a fall in the cost of gas imports.

UPDATE 1-Enel earnings lifted by Latin America, green business

* Power gen income down 8 pct in Italy, 17 pct in east Europe (Adds detail, background)

Jet fuel specification change a thorn in European traders' side

With the recent change in the European jet fuel specification, Platts editors assess the implications for oil traders and pipeline operators.

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