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A third crude tank caught fire and collapsed at Cuba's main oil terminal in Matanzas, its governor said on Monday, as an oil spill spread flames from a second tank that caught fire two days earlier in the island's biggest oil industry accident in decades.

India's Chennai Petroleum Corp said it had cut crude processing by a quarter at its 201,000 barrels per day Manali refinery in southern India, following an order by the Tamil Nadu state pollution control board.

Oil dropped over $1 a barrel on Tuesday, approaching a multi-month low hit last week, pressured by the latest progress in talks to revive the 2015 Iran nuclear accord, which would eventually allow Tehran to boost exports in a tight market.

China should adopt autonomous vehicles in passenger transport with care, the country's Ministry of Transportation said in drafted rules to regulate the self-driving industry.

Baidu's electric vehicle (EV) firm Jidu Auto will be one-generation ahead of Tesla in terms of autonomous driving technologies, Baidu chief executive Robin Li said in a statement.

On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China.

Santosh Iyer has been associated with Mercedes-Benz India since 2009 and has been at leadership roles across diverse functions including Sales, Marketing, Customer Services, Communications and CRM.

The West's energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in energy prices.