Bloomberg Exxon Mobil Corp. reaped a record $56 billion annual profit but disappointed some investors by holding the line on share buybacks. Full-year profit, excluding one-time items, jumped 157% from 2021, far exceeding the driller’s prior record of $45.2 billion in 2008, which at the time marked the biggest in US corporate history. The stock initially fell almost 4% in ...

Bloomberg India defended its use of fossil fuels citing energy security priorities, even as the country vowed to remain committed to decarbonisation. The country, one of the world’s largest producers of coal, has often countered demands to curb use of the dirtiest fossil fuel, arguing it is key to its energy security and economic development. The war in Ukraine saw ...

  Bloomberg Hungarian refiner Mol Nyrt is in talks to use Croatia’s oil pipeline network as it works to wean itself off Russian supplies, according to a senior company executive. “Our intention at the moment is to clearly develop the alternative possibilities,” Peter Ratatics, Mol’s 40-year-old executive vice president for consumer services, said in an interview. “In a conflict zone, ...