Jan 27 (Reuters) - Honeywell International Inc
* Says positive sentiment in oil and gas business continues, sees signs of improving activity
* Says number of projects that were on hold in oil and gas business, mainly in China, are restarting
* Says seeing good momentum in high growth regions driven by the demand for refined product in China and India's accelerated transition to Euro 6 emissions standards
* Says reduction in its sales forecast is "solely due to the foreign exchange"
* Says expect higher year-over-year OEM incentives in its aerospace business 1H 2017; says that trend would reverse in the second half
* Honeywell CEO David Cote says this is his last conference call, and he is "really going to miss it"
* Honeywell COO Darius Adamczyk says would need clarity sooner on trade policies related to Mexico and China and some of the other trade partners of Honeywell
* Honeywell CEO David Cote says if it gets to the point of a "trade war", it's not going to be bad just for trade, but also economically Further company coverage: