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UPDATE 1-Argentina's YPF sees cost of Vaca Muerta drilling falling 10 pct

EZEIZA, Argentina, April 16 (Reuters) - The cost of drilling wells in Argentina's vast but barely tapped Vaca Muerta shale oil and gas formation will fall at least 10 percent by the end of 2016, Miguel Galuccio, chief executive officer of state energy company YPF said on Thursday.

EU competition chief takes aim at Gazprom

BRUSSELS, April 16 (Reuters) - The European Union's competition chief sent a warning shot to Russian gas giant Gazprom on Thursday when she pledged to act decisively against energy companies that break competition law.

How falling commodity prices have flattered Chinese GDP in 2015

What’s in a number? Quite a lot when it comes to Chinese GDP. Especially when it’s 7%, which was the real growth rate of the Chinese economy in the first quarter of 2015, compared to the first quarter of last year.

Islamic State militants clash with security forces inside Iraq's largest refinery

BAGHDAD, April 16 (Reuters) - Islamic State militants clashed with security forces inside Iraq's largest refinery on Thursday and held on to recent gains in the west of the country, as Prime Minister Haider al-Abadi said the extremist group remained "very, very dangerous".

UPDATE 1-U.S. military option in Iran 'intact' despite Russian missiles -U.S. General

WASHINGTON, April 16 (Reuters) - The U.S. military option to prevent Iran from obtaining a nuclear weapon, and encourage a diplomatic solution, remains intact despite Russia's decision to deliver its S-300 missile defense sytem to Tehran, the top U.S.

U.S. military option in Iran 'intact' despite Russian missiles -U.S. General

WASHINGTON, April 16 (Reuters) - The U.S. military option against Iran's nuclear program remains "intact" despite Russia's decision to go ahead with delivery of S-300 missile defense systems to Tehran, the top U.S. military officer said on Thursday.

UPDATE 1-U.S. judges raise doubts about early challenge to EPA carbon rules

WASHINGTON, April 16 (Reuters) - In the first legal test of the Obama administration's plan to limit greenhouse gas emissions from power plants, two of three federal judges hearing a challenge to the regulations on Thursday expressed skepticism about weighing in before they are formally adopted.

UPDATE 1-Yemen tribesmen take control of southern oil terminal, airport -local officials

ADEN, April 16 (Reuters) - Yemeni tribal forces took control of a major southern oil terminal and airport after military forces protecting it withdrew from the site, local officials and residents told Reuters on Thursday.

UPDATE 2-Total, BP say feel no M&A pressures after Shell deal

PARIS/LONDON, April 16 (Reuters) - French oil major Total and British rival BP are under no pressure to make acquisitions after the recent takeover of BG Group by Anglo-Dutch rival Shell, they said on Thursday.

UPDATE 1-BP shareholders back more disclosure on climate change risks

LONDON, April 16 (Reuters) - BP shareholders voted overwhelmingly on Thursday to publish regular updates on how its strategies were affecting climate change from next year, making it one of the first global oil companies to disclose such details.

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