Bloomberg

Bloomberg

You can read more from Bloomberg at www.bloomberg.com

Saudis produce, store more oil as exports fall

Saudi Arabia kept more oil in storage in April than at any other time in a decade as OPEC’s biggest producer pumped at the highest level for at least 31 years, official data show.  More »

ATP sues U.S. government over offshore-drilling suspension

ATP Oil & Gas Corp. sued the U.S. government for suspending offshore drilling after the 2010 Gulf of Mexico rig explosion and oil spill, alleging the moratorium cost the company more than $68 million.  More »

Unpredictable clean-energy policies hurt U.S., Senator says

The lack of consistent U.S. support for clean-energy production has put the nation at a disadvantage with China, where the government has been investing in companies, a senior Senate Democrat said.  More »

Shell concerned after French Guiana drilling permits halted

Royal Dutch Shell Plc (RDSA), Europe’s biggest oil producer, said it’s “obviously concerned” at reports France suspended drilling permits for French Guiana.  More »

Ex-BP Engineer faces February trial

A former BP engineer charged with destroying evidence sought for a U.S probe of the 2010 Gulf of Mexico oil spill will face a Feb. 25 trial, a judge said.  More »

Petrobras’s $236.5 billion plan boosts spending, cuts output

Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled crude producer, cut its long-term output target by 11 percent and said spending will rise to $236.5 billion through 2016 as it increases investment at offshore oil fields.  More »

Celanese plans Texas methanol plant to tap cheap gas

Celanese Corp. (CE), the world’s largest maker of acetic acid, plans to produce methanol outside Houston to supply its plants with the material derived from low-cost natural gas.  More »

Shell extends offer for Cove at lower price than PTT bid

Royal Dutch Shell Plc (RDSA) extended its offer to buy Cove Energy Plc (COV), an oil explorer focused on East Africa, without matching PTT Exploration & Production Pcl (PTTEP)’s higher bid for the firm.  More »

Statoil makes second ‘high-impact’ discovery off Tanzania

Statoil ASA (STL), Norway’s largest oil and gas producer, said it made a second “high-impact” gas find off Tanzania.  More »

North Dakota landowners fight state over oil rights

North Dakota landowners claiming the state is usurping their subterranean oil and mineral rights and costing them millions of dollars are asking a state court judge to let them proceed with a lawsuit.  More »

Continental’s Hamm says U.S. must keep tax breaks for oil

The U.S. must retain tax breaks that help independent oil and gas producers, said Harold Hamm, chairman and chief executive officer of Continental Resources Inc.  More »

U.K. offshore wind must copy oil drillers to cut costs by third

U.K. offshore wind developers should form alliances like oil companies battling plunging oil prices did in the past to cut costs by a third, a group including Alstom SA (ALO) and Siemens AG said.  More »