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UPDATE 1-U.S. weather forecaster sees likelihood of La Nina August-October

NEW YORK, July 14 (Reuters) - Following a damaging El Nino
weather period, a U.S. government weather forecaster on Thursday
said the La Nina weather phenomenon is favored to develop during
August through October 2016.

German Industry to Keep Exemption From Paying Green Power Fee

Thousands of German companies are set to keep their exemptions from payment of green power fees in a shakeup of the nation’s financial support for renewable energy, lawmakers in Berlin said.

U.S. weather forecaster sees La Nina developing August-October

NEW YORK, July 14 (Reuters) - A U.S. government weather
forecaster on Thursday said the La Nina weather phenomenon will
likely develop during August through October 2016.

UPDATE 2-Distressed funds set for big stakes in Gulf Keystone after debt swap

* Proceeds to be used to raise Shaikan production

(Adds background, analyst comment, share and debt prices)

China protests Australia's South China Sea freedom of navigation comment

BEIJING, July 14 (Reuters) - China said on Thursday it had
issued a formal protest after Australia announced it would
continue to exercise its right to freedom of navigation and
overflight in the South China Sea following a court ruling
against China's claims.

REFILE-UPDATE 1-Azerbaijan's oil output edges up 0.4 pct in first half

BAKU, July 14 (Reuters) - Azerbaijan produced 21.06 million
tonnes of oil in January-June, 0.4 percent more than in the
first half of last year and the first rise since May last year,
the State Statistics Committee said on Thursday.

UPDATE 1-China's legal setback could spur more South China Sea claims

* U.S. urges other claimants not to push aggressively after
ruling

(Adds Chinese comment, paragraphs 8-9)

China's legal setback could spur more South China Sea claims

Oil firm Det norske cuts capex outlook for 2016

OSLO, July 14 (Reuters) - Norwegian oil firm Det norske
is to cut capital spending this year due to project
cost savings after reporting a smaller than expected 22 percent
fall in second-quarter core profit.

S.Korea says to meet summer demand for power, avoid blackouts

SEOUL, July 14 (Reuters) - South Korea on Thursday said its
power supply would be sufficient to meet peak demand in what is
expected to be a hotter-than-normal summer, buoyed by new
electricity plants.

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