The federal appeals court’s decision came after finding that the Interior Department had failed to conduct an environmental study before issuing the company’s drilling permit.

Royal Dutch Shell, one of the world’s biggest oil companies, completed a multibillion-dollar natural gas deal with the Iraqi government.

Record earnings for Exxon, the world’s largest publicly traded oil company, have become routine as the surge of oil prices in recent years has filled its coffers.

Exxon Mobil reaped $11.68 billion in second-quarter profits, the most ever by an American company, and Royal Dutch Shell also reported a strong quarter.

Exxon Mobil reaped $11.68 billion in second-quarter profits, the most ever by an American company, and Royal Dutch Shell also reported a strong quarter.

Profits at oil companies this quarter continued to reflect oil prices that almost doubled in the second quarter from the year earlier.