BP PLC recorded a $2.25-billion net loss in the second quarter and $2.73-billion net loss for the first half. Those totals compare with a $6.27-billion net loss in second-quarter 2015 and $4.16-billion net loss for first-half 2015. Source: News

Light, sweet crude oil prices fell by more than $1/bbl on the New York market July 25 to the front-month’s lowest settlement since Apr. 25 while Brent oil prices fell nearly $1/bbl on the London market to that front-month’s lowest settlement since May 9. Source: News

Crude oil prices in Texas averaged $45.19/bbl in June, marking the fourth straight monthly increase since the average monthly price fell to a low of $27.08/bbl in February. Source: News

Petroleo Brasileiro SA’s board of directors has approved plans to resume construction activities at two of the company’s Brazilian refineries after previously delaying ongoing development at the sites following a series of financial troubles and government investigations that began in late 2014. Source: News

Chiyoda Corp. has secured a $1.6-billion engineering, procurement, construction, and installation (EPCI) contract to complete the second phase of Saudi Aramco’s Hasbah natural gas field, part of the two-field Al Wasit gas project. Source: News