By Haris Fludopoulos The new positive climate for hydrocarbon exploration, not only in Greece but more broadly for the mining industry, is highlighted by the decision of the American ExxonMobil not only to remain active in the Crete concession, but also to take over the majority of the French Total, which he left As market […]
Tag: ExxonMobil
Bloomberg: The revenge of ‘old world economics’ as Big Oil’s cash flow competes with technology
Exxon Mobil’s fund surpassed Alphabet’s for the first time since 2018, proving the oil giant is back in the big leagues, just a year after one of the biggest shareholder shakeups in corporate history. Exxon, which lost money for the first time in its history during the pandemic, now ranks as the S&P 500’s third-largest […]
Record profits for ExxonMobil in the quarter, beat estimates
ExxonMobil shares rose 2.5% in premarket trading as the oil giant reported quarterly profit that beat estimates, thanks to higher oil prices and higher production. The company reported record earnings of $17.85 billion, or $4.21 per share, in the quarter, triple the $5.48 billion, or $1.28, it reported a year ago. The previous record profits […]
Major oil companies are heading for record profits of $50 billion in the quarter
Oil majors are poised to post a record combined profit of $50 billion in the second quarter, although the industry’s stellar performance may be setting the stage for its own decline. As Bloomberg comments, the rise in “Big Oil” profits is a direct result of high energy prices that are fueling rampant inflation, piling pressure […]
ELPE: 75% of Total’s share in Crete’s hydrocarbons to ExxonMobil
In the hands of ExxonMobil passed the majority of Total’s lease contracts for the exploration and exploitation of hydrocarbons west of Crete, Hellenic Petroleum informed. In particular, as informed by ELPE, ExxonMobil Exploration and Production Greece (Crete) BV takes over 75% of TotalEnergies’ share (40%) in the Lease Agreements. The remaining percentage (25% of 40%) […]
Exxon Mobil: At $5.5 billion refining profits for the second quarter
Exxon Mobil Corp.’s refining profits for the second quarter reached $5.5 billion as consumers bear the brunt of higher gas prices, Bloomberg reports. Widening refining margins added up to $4.6 billion during the quarter, and an additional $900 million from derivatives, the company said in a regulatory filing yesterday. Meanwhile, rising oil and gas prices […]