Standard Oil

ExxonMobil reports record profits of $55.7 bln in 2022

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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.

Global oil, gas discoveries reach four-year high in 2019

Global oil and gas discoveries in 2019 of 12.2 billion barrels of oil equivalent (boe) represents the highest volumes since 2015, according to Rystad Energy's data on Jan. 9.

Headquartered in Norway, Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry.

New Cyprus gas find seen as game changer

The announcement on Thursday that US energy giant ExxonMobil has made a "world-class" discovery in Block 10 of Cyprus's exclusive economic zone (EEZ), containing 5-8 trillion cubic feet of gas, was widely seen as signifying that the energy game in the Eastern Mediterranean has only just begun and the main players' next moves will determine their future geopolitical position in the wider region.

Exxon focused on Cyprus's plot 10 despite tensions, VP says

Despite rising tensions between Ankara and Nicosia over gas exploration in the Eastern Mediterranean, Exxon-Mobil Vice President Tristan Asprey has said that the American energy giant and its partner, Qatar Petroleum, remain focused on drilling in plot 10 of Cyprus's exclusive economic zone.

One of the Biggest Real Estate Investors in Bulgaria Sells its Brokerage Business

Arco Vara AS will sell 100% of its subsidiaries Arco Vara Kinnisvarabüroo AS (Estonia) and Arco Real EOOD (Bulgaria) to the management teams in the two countries, according to a release on the company's website. The two companies will continue to work under Arco's trademarks as well as use databases and other intellectual property under an agreement signed for 5 years.

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