Eni – Page 3 – Oil & Gas 360

Eni plans second LNG platform offshore Mozambique as Europe seeks gas

August 2, 2022

World Oil (Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive. The Italian oil and gas producer’s potential project would complement its $7-billion Coral-Sul FLNG platform moored off Mozambique’s northern coast that’s

Eni to join Exxon, Total, Shell, Conoco in Qatar’s mega-LNG expansion – sources

June 8, 2022

Yahoo Finance HOUSTON – Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Wednesday. Exxon Mobil Corp, TotalEnergies SE, Shell, ConocoPhillips and Eni will participate in the North Field expansion,

Eni set to open roubles account for Russia gas unless told otherwise by EU

May 13, 2022

Yahoo Finance Italian energy giant Eni SpA is preparing to open ruble accounts at Gazprombank JSC, the latest sign that Europe’s united front against Moscow is splintering. Eni’s move, which would potentially allow it to comply with Vladimir Putin’s demand that gas must now be bought in local currency, is a precautionary measure, according to people familiar with the matter.

Eni’s Var Energi plans IPO in bet on strong future for natural gas

January 24, 2022

World Oil (Bloomberg) –Eni SpA’s Norwegian joint venture, Var Energi AS, will apply for an initial public offering in Oslo on a bet there’s still investor demand for shares in oil and gas companies in Europe. The company is considering seeking a valuation of about $10 billion in the listing, people familiar with the plan said, cautioning the target

Sixth Street Partners in final talks to buy stake in Eni’s power unit – sources

January 14, 2022

Reuters MILAN – U.S. investment firm Sixth Street Partners has emerged as the leading bidder for the power generation unit of Italian energy group Eni and is in advanced talks to buy a minority stake in the business, three sources told Reuters on Friday. Eni, advised by JPMorgan, is looking to sell a stake of up to 49% in

Eni oil block expected to enter production in Q2 2023, Ivory Coast says

December 15, 2021

Reuters ABIDJAN — An offshore oil block in Ivory Coast controlled by Eni is expected to enter production in the second quarter of 2023 with daily output of 12,000 barrels of oil and 17.5 million cubic feet of gas, the Ivorian government said on Wednesday. Production will then ramp up in 2026 to between 75,000 and 100,000 barrels of oil

TotalEnergies, Eni to invest billions in Libyan energy projects

November 22, 2021

World Oil (Bloomberg) –France’s TotalEnergies SE and Italy’s SpA said they were ready to invest billions of dollars in Libya as the OPEC nation emerges from a decade of conflict and civil war. “I want to contribute to Libya’s comeback,” TotalEnergies’ Chief Executive Officer Patrick Pouyanne said on Monday at an energy conference in the capital, Tripoli. “Some may see

Eni inadvertently buys oil from Iran, violating U.S. sanctions

November 12, 2021

World Oil (Bloomberg) – Eni SpA, one of Europe’s largest oil companies, said it unwittingly purchased a consignment of crude from Iran — an act that would have breached U.S. sanctions. In 2019, the Rome-based company bought a shipment of oil that was purported to have come from Iraq — a fact that authorities in Baghdad denied. Eni said in

Eni pledges higher returns as business looks up

July 30, 2021

Reuters MILAN – Italian energy group Eni pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production. Adjusted net profit was 929 million euros ($1.1 billion), compared with a loss of 714 million euros in the year-earlier period, Eni said on Friday. The result beat an

Eni to buy Italian wind portfolio from Glennmont in green drive

July 9, 2021

Reuters MILAN – Eni ENI.MI 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 350 MW, it said in a statement

Italy’s Eni to shed retail-renewable energy stake

April 30, 2021

Reuters MILAN- Italian energy group Eni is planning to spin off a minority stake in its new retail and renewable business next year, it said on Friday, after announcing first quarter profits that missed expectations. Several European energy companies, including Spain’s Repsol , aim to divest parts of their renewables business to raise money to reduce debt and pay for

Exclusive: Eni eyes oil spin-offs to tackle debt in energy transition

April 20, 2021

Reuters MILAN/LONDON – Italy’s Eni is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into renewables and

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