WorldOil Russia plans to meet with OPEC before group’s June gathering Russia, the world’s biggest energy exporter, will meet with OPEC before the group next gathers in June to discuss whether to adjust production limits, amid prices that are almost half their level of 10 months ago. Oil prices are BP’s unlikely ally as trading arm boosts profit Low oil prices became an unlikely ally for BP Plc and Total SA during the first quarter as they boosted the profitability of their large trading operations. Statoil spuds Bister exploration well in Norwegian Sea Statoil has started drilling the Bister exploration well (well 6407/8-7) in the Norwegian Sea, Faroe Petroleum, a partner in the well, has announced. Wintershall finds oil near Kristin field in Norwegian Sea Wintershall Norge, the operator of PL589, is about to complete the drilling of wildcat well 6406/2-8 in the Norwegian Sea. The well proved oil. Ugandan government scraps taxes on oil, gas, mining exploration Uganda abolished taxes on its emerging oil, gas and mining exploration industries to encourage growth, Finance Minister Matia Kasaija said. BP’s deepwater oil hunt off Australia evokes Gulf disaster fears Five years after the Gulf of Mexico oil spill poured millions of barrels of crude into the sea, BP is being challenged over its hunt for oil in the pristine waters off southern Australia. Orphaned oil rejected by U.S. refiners sails to Asia One million barrels of oil. Enough to fill more than 60 Olympic-sized swimming pools. And there it sat in tanks outside San Francisco—for three years—despite crude prices that topped $100/bbl. Saudi prince sees ‘excellent’ oil market as kingdom meets demand Saudi Arabia, the world’s biggest oil exporter, will meet any demand for its crude as the kingdom seeks to keep customers happy and maintain a balanced market, Prince Abdulaziz bin Salman, the deputy oil minister, said. UK government tells BP it would oppose any takeover, FT says The UK government told BP Plc it would oppose the acquisition of the oil producer by a foreign company, the Financial Times reported. Kosmos Energy reports play-opening gas find offshore Mauritania Kosmos Energy announced Monday that the Tortue-1 exploration well, drilled to test the Tortue West prospect, which forms part of the Greater Tortue Complex, in Block C-8 offshore Mauritania has made a significant, play-opening gas discovery. Japan’s Inpex buys stake in Abu Dhabi oil fields TOKYO -- Inpex Corporation has acquired a 5% participating interest in the ADCO Onshore Concession in Abu Dhabi, the Tokyo-based company said Monday.