A U.S. regulatory judge ruled BP PLC manipulated the Texas natural gas market in 2008 and said fines against the British energy company could increase because the scheme took place after earlier market manipulation.

Net profit for the reporting period attributable to the shareholders of Gazprom Neft rose by 28.3% year-on-year to 112.4 RUB bln.

Ten of the largest independent oil and gas producers in the United States reported total losses of almost $15 billion between April and June, compared with profits of almost $3.5 billion a year earlier.

Rosneft increased technical drilling volumes at the Company’s production assets by 27% in 7 months of 2015. Based on the January through July 2015 results the overall drilling progress accounted to 4.585 mln m, whilst during the same period of 2014 the figure was 3.605 mln m.

U.S. oil and gas company ConocoPhillips is reviewing its portfolio in Indonesia and may soon seek buyers for a stake in a production sharing block it operates in the Natuna Sea, company and government sources said.

During the quarter, Apache closed the sales of its LNG business, and remaining oil and gas assets in Australia . “Exiting these businesses eliminated our exposure to projects with large capital-spending commitments and uncertain project timing,” said John J. Christmann IV, Apache chief executive officer.

Total sales (net of excise tax, VAT and customs duties) increased by RUB 89,516 million, or 6 %, to RUB 1,648,253 million in the three months ended March 31, 2015 compared to the three months ended March 31, 2014.

Under the second stage of the Production Sharing Agreement of the Shah Deniz Project in Azerbaijan, LUKOIL Overseas Shah Deniz Ltd. (a fully-owned PJSC LUKOIL subsidiary) has signed in Baku a 12 year credit-facility agreement with a consortium of banks to borrow USD 1 billion.

“Russia sits on 25% of the world’s gas reserves and is very, very close to markets that we are very familiar with,” Van Beurden said July 30, on the sidelines of the company’s earnings presentation. Shell is also pushing “to see how we can work with Gazprom internationally.”

TESCO reported a net loss of $27.5 million, or $(0.71) per diluted share, for the second quarter ended June 30, 2015. Excluding certain special items, consisting of a valuation allowance on Canadian deferred tax assets, restructuring costs, specific warranty reserves for new products, certain foreign currency losses and specific bad debt expense related to an international customer, TESCO reported an adjusted net loss for the quarter of $8.0 million, or $(0.21) per diluted share. This compares to a net loss of $8.3 million, or $(0.21) per diluted share, in the first quarter of 2015, and net income of $12.7 million, or $0.31 per diluted share, for the second quarter of 2014. Adjusted net loss in the first quarter of 2015 was $3.3 million, or $(0.08) per diluted share, and in the second quarter of 2014 was $11.9 million, or $0.29 per diluted share.

On Aug. 3, US crude prices fell to $45 a barrel. In July, the average price was $60 a barrel. Banks are starting to tighten up their lending standards, further draining liquidity out of the market.

In May 2008, the company’s market capitalization reached $367.27 billion, making it one of world’s most valuable companies, according to a survey compiled by the Financial Times. Gazprom’s deputy chair, Alexander Medvedev, repeatedly predicted at the time that within a decade the Russian energy giant could be worth $1 trillion.

Nabors Industries Ltd. ("Nabors")(NYSE: NBR)today reported second-quarter revenue and earnings from unconsolidated affiliates of $862 million, compared to $1.42 billion in the first quarter of 2015, and $1.62 billion in the second quarter of last year. The comparable quarters included $367 million and $535 million respectively, in revenue from Completion and Production Services, a business line that merged with C&J Energy Services on March 24, 2015. Beginning in the second quarter, Nabors' results reflect equity-method accounting for this investment on a quarter-lag basis.

On a reported basis, due to a non-cash, full-cost ceiling charge, Devon had a net loss of $2.8 billion, or $6.94 per diluted share, for the second-quarter 2015. This compares with second-quarter 2014 reported net earnings of $675 million, or $1.64 per diluted share.

Gazprom's gas prices are pegged to oil with a six-month lag, which means its customers are currently paying the equivalent of $45-$50 per barrel seen in January 2015 when oil prices crashed following a decision by OPEC not to reduce output.