James Fontanella-Khan Energy headlines

China taps more Saudi crude than US (FT)

Saudi oil flows east as Asian demand rises (FT)

Schlumberger to buy rival Smith for $12bn (FT)

Reliance said to raise Lyondell bid to $14.5bn (Bloomberg)

Video: Svein Richard Brandtzaeg, ceo of Norsk Hydro (FT)

Indian steel producer looks overseas (FT)

India Renuka Sugars buys 51 pct stake in Brazil’s Equipav (Reuters)

Brazilian producers of ethanol agree to merge (FT)

World’s firms cause $2.2tn of environmental damage (Guardian)

Lex: Russian IPOs (FT)

RenCap to focus on Africa (FT)

France appears to backtrack on Total (FT)

Nikko AM launches new green bond fund (FT)

Hydrogen taxi cabs to serve London by 2012 Olympics (Guardian)

The long road to an alternative-energy future (WSJ)