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UPDATE 1-Sete Brasil plans bankruptcy in week if no Petrobras lease proposal -sources

SAO PAULO, Feb 19 (Reuters) - Sete Brasil Participações SA plans to file for bankruptcy protection if state-controlled oil producer Petróleo Brasileiro SA, the rig builder's sole client, fails to present a final lease contract proposal in a week's time, three sources with direct knowledge of the matter said on Friday.

UPDATE 2-Pennsylvania family fails in court to save sugar maples from pipeline

SCRANTON, Pa., Feb 19 (Reuters) - A federal judge ruled on Friday that a Pennsylvania family that runs a maple syrup business cannot stop most of their trees from being cut down to make way for a shale gas pipeline, but he stopped short of charging them with contempt of court.

UPDATE 2-Venezuela sending new proposals to OPEC, non-OPEC producers

CARACAS, Feb 19 (Reuters) - Venezuela is sending new proposals to leaders of OPEC and non-OPEC countries to stabilize the oil market, President Nicolas Maduro said in a televised broadcast on Friday afternoon, without providing details.

Sete Brasil shareholders may file for bankruptcy -sources

SAO PAULO, Feb 19 (Reuters) - Shareholders of Sete Brasil Participações SA may file for bankruptcy protection if Brazilian state-controlled oil producer Petróleo Brasileiro SA, the rig builder's sole client, fails to present a final long-term lease contract in a week's time, two sources with direct knowledge of the matter said on Friday.

Doha oil group to monitor market to June, new measures possible - Venezuela

CARACAS, Feb 19 (Reuters) - Saudi Arabia, Russia, Qatar and Venezuela will monitor the oil market through to June following this week's agreement to freeze production and potentially take additional measures to rescue prices, the South American country's oil minister said on Friday afternoon. (Reporting by Alexandra Ulmer; Editing by Marguerita Choy)

UPDATE 1-S&P warns it may cut Icahn Enterprises to junk status, stock falls

BOSTON, Feb 19 (Reuters) - U.S. ratings agency Standard & Poor's warned on Friday it may cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months.

LNG to the rescue - but does the EU need saving?

Platts editors discuss the European Commission's new EU gas supply security package in the light of flat gas demand, well supplied markets and continued tense relations with Russia.

INVESTMENT FOCUS-Another Argentina? Sovereign defaults could get messy

LONDON, Feb 19 (Reuters) - Argentina may be on the home straight of the marathon legal battle over the restructuring of its debts, but investors need to be wary that there are plenty of other strained countries that litigation-loving funds can swoop on if they want.

S&P warns it may cut Icahn Enterprises to junk status

BOSTON, Feb 19 (Reuters) - U.S. ratings agency Standard & Poor's warned on Friday it may cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status because the portfolio had suffered heavy losses in the last few months.

UPDATE 6-U.S. strikes Islamic State in Libya, killing 40 people

* Second US air strike in three months against IS in Libya (Adds White House comment, U.S. congressman statement, U.N. quote)

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