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Wood Group enters new sector in UK with Valero Energy refinery contract

Wood Group has secured a new five year framework agreement with Valero Energy, an international manufacturer and marketer of transportation fuels, petrochemical products and power.

Fitch downgrades Anglo American's credit rating to "junk"

Feb 17 (Reuters) - Miner Anglo American Plc's debt was downgraded to "junk" status with a negative outlook by Fitch Ratings on Wednesday, two days after Moody's Investors Service made a similar move.

Cambodia to welcome Chinese warships as Japan navy heads home

PHNOM PENH, Feb 17 (Reuters) - China will hold its first-ever exercise with Cambodia's navy next week, in swift succession to a visit by the military vessels of Beijing's old enemy Japan, the latest sign of China's growing presence in a region where maritime tension is rising.

UPDATE 1-Glencore to refinance its short-term debt early, shares rise

LONDON, Feb 17 (Reuters) - Miner and trade house Glencore Plc has raised $8.4 billion in commitments as part of an early refinancing of its short-term debt, sending its shares up more than 10 percent on Wednesday.

UPDATE 2-RWE scraps dividend as power sector crisis intensifies

* Shares poised to mark biggest ever one-day drop (Recasts, adds CEO comment, trader, details)

China's Sinopec to shut four oilfields at Shengli - company paper

BEIJING, Feb 17 (Reuters) - China's state-owned Sinopec will shut four oilfields this year at Shengli in the eastern province of Shandong, a company newspaper said late on Tuesday, as low global oil prices take a toll on output of the country's ageing fields.

WRAPUP 3-China sends missiles to contested South China Sea island - Taiwan, U.S. officials

* Satellite images show new missiles on Woody Island - Fox News

UPDATE 2-Iran signals tough stance in oil producers' talks

* GRAPHIC-Global crude output: http://tmsnrt.rs/1Wpx5Rc (Adds time of talks, Qatar attending, UAE and Kuwait comments)

RPT-West Africa oil projects face yet longer delays than rivals as prices languish

* Investment may take time to recover for West Africa projects

Unclear if U.S., India can reach solar settlement-U.S. official

PALO ALTO, Calif., Feb 17 (Reuters) - Negotiations between the United States and India to resolve a solar power trade dispute are continuing with no clear end in sight, the top U.S. trade official said on Tuesday, signaling another likely delay in a World Trade Organization public ruling in the case.

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