ExxonMobil

Saudi Aramco reported yesterday that profits jumped 46 percent last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world's biggest crude exporter.

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ExxonMobil reported record annual profits of $55.7 billion in 2022 on Jan. 31, reflecting higher commodity prices amid recovering demand and the impacts of Russia's invasion of Ukraine.

In the fourth quarter, profits rose 43.7 percent to $12.8 billion, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period.

With US-based ExxonMobil entering the final stage of exploration in Crete, Athens' expectations have been boosted by the statement by Environment and Energy Minister Kostas Skrekas that there are indications of a significant deposit that could fill the Russian gas gap in Europe for 10 years.

Τhe seismic data ExxonMobil's Sanco Swift research vessel has collected so far offer clear indications of the existence of an important hydrocarbon field in the area south of Crete.

Seismic data obtained so far by the Sanco Swift, the Norwegian exploration vessel leased by ExxonMobil, southwest of the island of Crete, allegedly point to the existence of large natural gas deposits in the area.

US energy giant ExxonMobil, which has partnered with Greece's HELLENiQ Energy (formerly Hellenic Petroleum) in searching for natural gas and oil west and southwest of the Aegean island of Crete, not only is unconcerned about Turkish aggressive rhetoric against Greece but plans to accelerate its timeline for exploratory drilling by a year, Kathimerini understands.

Romania's Energy Minister, Virgil Popescu, on Wednesday said Romania will produce more natural gas than it needs once it starts extracting gas from the Black Sea area - and will then be in a position to export to countries in the region, with Moldova a priority.

And officially TotalEnergies announced its withdrawal from the hydrocarbon investigations in the two maritime concessions of Crete it had leased three years ago as head of the joint venture with ExxonMobil and Hellenic Petroleum.

New seismic surveys are coming to offshore blocks that have been granted by the Greek state to oil companies to locate possible natural gas deposits.

The first drilling is expected to take place at the land concession of Ioannina and the sea "block 2" located Northwest of Corfu, which will give the first picture of the size of the natural gas deposits in Greece.