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UPDATE 5-Oil extends rally towards $35 after Iran welcomes output freeze

* EIA supply report due later on Thursday (Updates prices, adds quotes, changes dateline from SINGAPORE)

AirAsia CEO: cheap oil paves way to revive expansion

SAN FRANCISCO, Feb 18 (Reuters) - With low oil prices reducing its operating costs, AirAsia Chief Executive Tony Fernandes said the budget carrier was ready to start expanding again in southeast Asia and was eyeing Vietnam and the Philippines.

MHI Vestas to provide turbines to Belgium's largest wind farm

COPENHAGEN, Feb 18 (Reuters) - MHI Vestas, a joint venture between Vestas and Japan's Mitsubishi Heavy Industries , said on Thursday it would likely supply turbines to Belgium's largest wind farm project.

Tullow Oil finds potential issue at Ghana field, shares drop

Feb 18 (Reuters) - Oil producer Tullow Oil Plc said there was a potential issue with a storage vessel at its flagship Jubilee field in Ghana, sending shares down more than 7 percent on Thursday morning.

India's Reliance set to lift Iran oil after 5-yr hiatus -source

NEW DELHI, Feb 18 (Reuters) - India's Reliance Industries Ltd, owner of the world's biggest refining complex, is preparing to lift oil from Iran next month after a gap of about five years, said an industry source with knowledge of talks between the two.

UAE says oil price will force producers to freeze output

DUBAI, Feb 18 (Reuters) - Oil prices are not suitable and will force producers to freeze their output, the United Arab Emirates' energy minister Suhail bin Mohammed al-Mazrouei said on Thursday, adding investments in high-cost production would also be restrained.

UPDATE 1-Centrica trims investments as energy price slump weighs

LONDON, Feb 18 (Reuters) - British Gas owner Centrica reported a 4 percent fall in 2015 adjusted earnings on Thursday as it felt the effects of a steep fall in energy prices and said it could trim investments further if conditions fail to improve.

UPDATE 1-Insurer Lancashire's profit hit by fall in gross premiums

Feb 18 (Reuters) - British property and casualty insurer Lancashire Holdings Ltd reported a 24.2 percent fall in full-year pretax profit on Thursday, hurt by a fall in gross written premiums in its property and energy businesses.

UPDATE 4-Oil prices climb as Iran endorses oil output cap

* U.S. oil output could fall on low prices -Phillip Futures (Updates prices)

UPDATE 1-No output growth for OMV by 2020 without Russia

* Proposed 2015 div of 1 eur/shr down 20 pct vs 2014 (Adds 2015 results, dividend cut, industry context)

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