Report: Panama Papers shows shell companies used in alleged Saipem corruption scheme

The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by...

Nigeria output falls by 700,000 bpd after militant attacks

A wave of militant attacks has taken more than half a million barrels of Nigerian oil output offline. According to data collected by Reuters, militant attacks...

Ecuador pays Chevron $112 million for 2011 arbitration award

After years of appeals, Ecuador has finally paid Chevron over $100 million tied to a decades long contract dispute. According to Reuters, Ecuador's central banker Diego Martinez said...

Another Saskatchewan city shuts water intake after Husky Energy pipeline spill

Another city in Saskatchewan shut its water intake on Monday after a Husky Energy pipeline spilled into a river last week. According to the Canadian Press, the...

BP narrows Q2 loss on cost savings

BP posted a $1.41 billion loss for the second quarter as low oil and gas prices continued to weigh on the company's upstream segment. The$1.41...

UK North Sea services workers strike for first time in 28 years

Over 400 UK North Sea services workers downed their tools for the first time in nearly thirty years on Tuesday to protest pay cuts. Unite the union...

Schlumberger CEO calls $2.16 billion Q2 loss ‘bottom of cycle’

Schlumberger CEO Paal Kibsgaard said Friday that the oil and gas downturn may have hit "the bottom of the cycle" after his company booked a $2.16...

Shell cutting 25 percent of deepwater Gulf of Mexico workers

Royal Dutch Shell is preparing to cut as much as 25 percent of its deepwater Gulf of Mexico workforce. A Shell spokesperson told ABC News on...