Eni and BP have completed a deal to merge their oil and gas operations in Angola, the groups said on Friday. It will create a company called Azule Energy that is expected to be Angola’s largest producer, with stakes in 16 licences and in the Angola liquefied natural gas joint …
Read More »Eni to Buy Italian Wind Portfolio in Renewable Drive
Eni has agreed to buy one of the largest onshore wind portfolios in Italy from fund manager Glennmont Partners, as part of plans to expand its green energy business. The Italian energy group will buy a 315 megawatt portfolio comprising 13 plants, taking its overall wind capacity in Italy to …
Read More »Italy’s ENI Joins European Hydrocarbon Companies Mulling Renewables Spinoff
Italian energy company ENI is considering spinning off its combined retail power and renewable energy activities through a public listing next year or selling a minority stake in them to capitalize on buoyant market conditions, it said 30 April in its quarterly earnings. The announcement comes less than a year …
Read More »Eni Makes New Oil Discovery in Western Desert of Egypt
Italian oil major has Eni has announced a new oil discovery, in Meleiha Concession, in the Western Desert of Egypt. The discovery was achieved through the Arcadia 9 well, drilled on the Arcadia South structure, which is located 1.5 km south of the main Arcadia field already in production. The …
Read More »Iraq in Talks with Italy’s ENI to Build $4 Billion Refinery near Zubair Field
Iraq is in talks with ENI to build a 300,000 b/d refinery at an estimated cost of $4 billion near the Zubair oil field operated by the Italian company in the southern part of the country, the oil minister told a webcast with Jordan-based Iraqi Business Council. The first phase …
Read More »EU Backs Italian Energy Efficiency Fund with €39.9m
FIEE SGR has launched its second fund – the Italian Energy Efficiency Fund II (FIEE II) – with a first close of €127.5m.
Read More »Eni Announces Oil Discovery in Egypt’s Western Desert
Eni announced the successful drilling of the SWM-A-6X well, in the South West Meleiha development and exploration concession located in the Egyptian Western Desert, some 130 km North of the of Siwa Oasis. The new well has been drilled close to existing production facilities and is already connected to the …
Read More »Covid-19 Is Reshaping Oil Industry
Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry. Eni now sees benchmark Brent crude at $60 a barrel in 2023 real terms, down from a previous estimate of $70, the company said late …
Read More »Italian Eni Mulls Exit from Pakistan after 20 Years
ENI, the Italian oil and exploration firm, is considering an exit from Pakistan after 20 years of its operations due to decline in profit margins associated with the volatile international oil prices since the coronavirus outbreak. A company official confirmed to The Express Tribune that the firm’s assets are up …
Read More »Italy’s ENI Reaffirms Commitment to a Just Energy Transition
Italian energy major ENI published on May 13 the company’s sustainability report that describes its commitments in its Long-Term Strategic Plan to 2050, which combines financial, environmental and social sustainability. “The historical moment we are going through poses complex challenges on our path, but we are certain that these difficulties …
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