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  • JAKARTA, Dec 22- The Ciliwung River flows from a volcano south of the Indonesian capital, through the heart of one of the world's most densely populated cities and almost into Jakarta Bay. The same is true for the rest of the half-dozen sewage-choked rivers that wind though central Jakarta. "Jakarta is a bowl, and the bowl is sinking," said Fook Chuan Eng, senior water...

  • MEXICO CITY, Dec 19- The allure of investing in Mexico's historic oil sector opening has been dimmed by the plummeting price of crude, putting pressure on the government to offer bigger incentives to private investors in the first major round of contracts up for grabs. Since Congress in August approved the laws governing the dissolution of Mexico's 75-...

  • Correction: Cuba-Travel story Thursday, 18 Dec 2014 | 3:18 PM ET

    NEW YORK— NEW YORK— In a story Dec. 17 about travel to Cuba, The Associated Press reported erroneously the number of Americans who were authorized to travel to Cuba last year. US travel industry carefully eyeing Cuba tourism. NEW YORK— Cuba was once a haven for sun-seeking American tourists.

  • Analysts say companies with considerable debt such as Nabors Industries Ltd and small private firms with less efficient rigs will scramble to keep them in operation. Rig rates of $25,000- $30,000 per day in the quarter ended Sept. 30, are expected to fall 20-25 percent or more next year and talks over lower rates are already underway, analysts said.

  • Cheniere lands 20-year natural gas deal in Portugal Thursday, 18 Dec 2014 | 10:40 AM ET

    HOUSTON— Cheniere Energy landed a 20- year contract to supply natural gas in Portugal, sending shares up 8 percent in early trading. Companies such as Exxon Mobil and Sempra Energy are seeking federal permits for more than 20 export projects that could handle as much as 29 billion cubic feet of natural gas a day. EDP also has electricity and gas operations in Spain...

  • You're going to see volatility here, "said Daniel Flynn, energy analyst at Chicago's Price Futures Group. Brent for February delivery was up $1.05 at $61.06 a barrel by 2:37 p.m. EST, after hitting a session high of $63.40. The biggest slide in oil prices since the 2008 financial crisis had accelerated after OPEC met in November, when Gulf producers resisted calls...

  • NEW YORK, Dec 17- Crude oil jumped nearly 5 percent on Wednesday as important chart support prices held fast after nearly a week of selling, leading to technical buying that turned the market around abruptly. "I think it was triggered by some short-covering, and once it gets going it feeds upon itself," said John Saucer at Mobius Risk Group in Houston.

  • US travel industry carefully eyeing Cuba tourism Wednesday, 17 Dec 2014 | 12:11 PM ET

    NEW YORK— Cuba was once a haven for sun-seeking American tourists. President Barack Obama's announcement Wednesday of plans to re-establish diplomatic ties with Cuba doesn't suddenly lift the ban on U.S. tourism. "Cuba is the largest country in the Caribbean, so there's some exciting possibilities," said Roger Frizzell, spokesman for Carnival Corp. He said "some...

  • Ohio gas well keeping 25 families out of homes Wednesday, 17 Dec 2014 | 6:48 AM ET

    COLUMBUS, Ohio— A natural gas fracking well that is leaking uncontrollably has kept 25 families from their homes for three days in eastern Ohio. The families were evacuated from houses within a 1.5- mile radius of the well, located near the Ohio River, about 160 miles east of Columbus, the Columbus Dispatch reported Wednesday. The well is operated by Triad Hunter, a...

  • Investors in beat-up oil bonds lean on banks for rescue Wednesday, 17 Dec 2014 | 1:00 AM ET

    BOSTON, Dec 17- Independent oil exploration and production companies are leaning heavily on bank credit lines to survive plunging crude prices, making it a nervous time for U.S. funds holding their junk-rated debt. 'said Francis Bradley III, a Greenberg Traurig attorney in Houston who specializes in energy company financing deals. " U.S. mutual funds hold an...

  • Dec 16- Citgo Petroleum Corp, Venezuela's U.S. oil refining unit, has received revised bids from at least four bidders, some which have valued the company at more than $10 billion, according to three people familiar with the matter. The companies that made bids in December include Marathon Petroleum Corp, Valero Energy Corp, HollyFrontier Corp and a consortium of...

  • Willbros reports 3Q loss Monday, 15 Dec 2014 | 5:30 PM ET

    HOUSTON _ Willbros Group Inc. on Monday reported a loss of $3.4 million in its third quarter. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share. Analysts expected $569.2 million, according to Zacks.

  • WASHINGTON, Dec 15- A U.S. federal appeals court on Monday threw out a human rights lawsuit brought against Occidental Petroleum Corp over allegations that it played a role in killings carried out by the Colombian military in 2004.. A three-judge panel of the San Francisco- based 9th U.S. Circuit Court of Appeals upheld a district court judge's decision to...

  • LOS ANGELES, Dec 15- The union for 20,000 dockworkers and a group of their employers at 29 U.S. West Coast ports say they are making slow but steady progress in months-long contract talks seen by the shipping industry as a contributing factor in chronic cargo backups. The International Longshore and Warehouse Union and the Pacific Maritime Association,...

  • WASHINGTON, Dec 15- A U.S. federal appeals court on Monday threw out a human rights lawsuit brought against Occidental Petroleum Corp over allegations that it played a role in killings carried out by the Colombian military in 2004.. A three-judge panel of the San Francisco- based 9th U.S. Circuit Court of Appeals upheld a district court judge's decision to...

  • *OPEC repeats intention to keep output steady despite glut. NEW YORK, Dec 15- Crude prices came under renewed pressure on Monday, and Brent hit five-year lows of nearly $60 a barrel after producer group OPEC said it would stick to its decision not to cut output despite fears of a world awash in oil. But oil later gave up its gains, with Brent turning negative and U.S....

  • Apache selling stake in 2 LNG projects for $2.75B Monday, 15 Dec 2014 | 8:33 AM ET

    HOUSTON— Apache is selling its stake in two liquefied natural gas projects to Woodside Petroleum Ltd. for $2.75 billion. The deal also includes Apache's 50 percent stake in the Kitimat LNG project and related upstream acreage in the Horn River and Liard natural gas basins in Canada. Apache Corp. anticipates net proceeds of about $3.7 billion.

  • That will widen Alaska's budget gap to almost $3.4 billiuon, Fitch said in a Dec. 11 report. States such as Texas, North Dakota, Alaska, Oklahoma and New Mexico are all likely to feel strains next year, Wells Fargo Securities municipal analyst Roy Eappen said in a recent report. Meanwhile, household sentiment in Texas, Louisiana, Oklahoma and Arkansas where memories...

  • HOUSTON, Dec 12- Banks are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly-leveraged U.S. exploration and production firms. But I don't think anybody is going to be able to add on significantly more debt, "said Christian Ledoux, a senior portfolio manager at San Antonio-...

  • Benchmark Brent oil settled at below $62 a barrel and U.S. crude slumped to under $58 to extend Thursday's landmark fall below $60. On Friday, the Paris- based International Energy Agency which coordinates the energy policies of industrialised countries, cut its outlook for demand growth in 2015, triggering another collapse. "That's just more bad news for the...