Standard Oil

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.

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.

About 100 companies have been responsible for about 71% of the world's greenhouse gas emissions.

That's according to a new report from climate change non-profit CDP in conjunction with the Climate Accountability Institute. The report hopes to highlight the role such companies, and their investors, play in Climate Change.

US energy giant ExxonMobil has said it plans to conduct test drills for hydrocarbons off the coast of Cyprus later this year despite Turkey warning international firms against exploration.

ExxonMobil is aware of the particular geopolitical situation in the region of Cyprus, Tristan Aspray, the company's vice-president for Exploration in Europe, Russia and the Caspian, said during an investment forum hosted by the Cyprus Investment Promotion Agency at Bloomberg's European headquarters in London on Friday.

Greece's Energy Ministry announced on Tuesday it had selected a consortium made up of Hellenic Petroleum (HELPE), Total and Exxon Mobil to conduct hydrocarbon research off western and northwestern Crete, according to the state-run Athens-Macedonian News Agency (ANA-MPA).

State-owned energy giant Qatar Petroleum on June 3 signed an agreement to buy a 30-percent stake in Exxon Mobil hydrocarbon affiliates in Argentina.

US oil giant ExxonMobil intends to send two surveying vessels to Cyprus's exclusive economic zone in the face of Turkish pressure that has temporarily prevented Italian company Eni's drilling in Block 3.

Tenders for offshore oil and gas exploration and exploitation west and south of Greece have attracted "strong interest" from companies exploring in the Mediterranean, the head of Greece's oil and gas resources management company said on Wednesday.

Greece launched two tenders on Monday for offshore oil and gas exploration and exploitation in the west and south of the country, the energy ministry said.

The move follows expressions of interest by a consortium of Total, Exxon Mobil and Hellenic Petroleum for exploration in two sites off the island of Crete, and by Greece's Energean for a block in the Ionian Sea in western Greece.