Exxon Mobil, the largest U.S. oil company, reported a 52 percent drop in profit for the second quarter. Revenue dropped by a third and the profits of its exploration and production businesses declined 74 percent, to $2 billion.

Clifford Krauss
A Royal Dutch Shell icebreaker that was the target of environmental protesters is leaving Portland, Oregon, bound for an Arctic drilling operation.Steven DuBois and Dan Joling | Associated Press
The initial investigation of the incident that put a gash in the Finnish icebreaker hired by Shell suggests -- but does not conclude -- that a previously uncharted Unalaska Bay shoal was to blame.Yereth Rosen
A novel strategy pushed by then-Gov. Sean Parnell and his natural resources head -- now U.S. Sen. Dan Sullivan -- to force exploratory work in the off-limits Arctic National Wildlife Refuge was rejected Tuesday by a federal judge in Anchorage.Lisa Demer
One protester, Christian Pence, 19, refused to leave the Willamette River after being told the waterway was closed Thursday afternoon, then assaulted a deputy who tried to remove him from the water, authorities said.Associated Press
The Transocean Polar Pioneer began drilling late Thursday afternoon at Royal Dutch Shell's Burger prospect in the Chukchi Sea, according to company officials. Shell is allowed to drill the upper, non-hydrocarbon-bearing zone without its icebreaker present.Yereth Rosen
Authorities moved protesters from a bridge and from the Willamette River on Thursday after they temporarily prevented a Royal Dutch Shell icebreaker from leaving dry dock and joining an Arctic oil-drilling operation.Hal Bernton, Evan Bush | The Seattle Times
Authorities forced protesters in kayaks from a river Thursday in Portland, Oregon, where the demonstrators were trying to stop a Royal Dutch Shell icebreaker from leaving dry dock and joining an Arctic oil drilling operation.Hal Bernton,Evan Bush,Yereth Rosen
ConocoPhillips said Thursday its Alaska operations remained profitable even while oil prices plunged over the last year.Pat Forgey
Alaska Sen. Lisa Murkowski, chairman of the committee, championed the bill, which passed by a party-line vote of 12-10. She said lifting the ban would turn the U.S. into an energy superpower.Kevin Freking | Associated Press