Unaoil corrupted a senior official in a subsidiary of Abu Dhabi’s National Oil company. This insider rigged a tender panel for a Unaoil client, Indian conglomerate Larsen & Toubro.

It's part of the second-largest U.S. oil company's plan to cut between $2 billion to $3 billion in costs by the end of next year, it said. The layoffs will begin this year and are expected to be ...