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ENI S.p.A. (E)

  • Wed, Oct. 28, 8:41 AM
    • Eni (NYSE:E) agrees to sell a 12.5% stake in Saipem (OTCPK:SAPMY, OTCPK:SAPMF) to Fondo Strategico Italiano as part of a larger deal that will allow it to reduce its net debt by ~€5.1B and focus on exploration and production.
    • Eni will collect ~€6.5B ($7.2B) from the deal - €6.1B from the repayment of Saipem’s debt and €400M for the value of the stake.
    • Saipem’s borrowings have weighed heavily on Eni, its largest shareholder, amid a slump in crude prices; Eni will continue to hold ~30% of Saipem after the close of the deal.
    | Wed, Oct. 28, 8:41 AM | Comment!
  • Wed, Apr. 8, 3:48 AM
    | Wed, Apr. 8, 3:48 AM | 7 Comments
  • Aug. 27, 2014, 6:11 AM
    • Royal Dutch Shell (RDS.A, RDS.B) is leading a consortium to sell several Nigerian oilfields for approximately $5B, as foreign companies reduce their onshore oil presence in the country due to theft, sabotage and local disruptions.
    • The four oilfields and a key pipeline are co-owned by Shell, France’s Total (NYSE:TOT) and Eni (NYSE:E) of Italy.
    • A deal is expected in the next few weeks after which all potential buyers will require government approval.
    | Aug. 27, 2014, 6:11 AM | Comment!
  • Nov. 20, 2013, 7:08 AM
    • Eni (E) has agreed to sell its 60% stake in Arctic Russia to to Yamal Development, a joint venture owned by Novatek (NOVKY) and GazpromNeft (OGZPY), for $2.94B.
    • "With this sale, Eni monetizes its investment in Siberian upstream assets, which have...significantly matured," the company said.
    • Arctic Russia owns 49% of Severenergia, which holds four licenses for the exploration and production of hydrocarbons in the region of Yamal Nenets in Siberia. (PR)
    | Nov. 20, 2013, 7:08 AM | Comment!
  • Nov. 18, 2013, 9:41 AM
    • Seadrill (SDRL) reportedly is interested in buying Saipem's offshore drilling business in a deal that could cost as much as €3.9B.
    • Such a deal could be positive for both Saipem (SAPMY, SAAYY) and parent Eni (E) by cutting their debt levels, analysts say.
    • Proceeds from SDRL’s planned New York listing of its 74%-owned North Atlantic Drilling subsidiary could provide the funding for such an acquisition.
    | Nov. 18, 2013, 9:41 AM | 9 Comments
  • Mar. 14, 2013, 6:01 AM
    Italy's ENI (E +1.9% in Milan) has agreed to sell a 28.6% stake in Eni East Africa to China National Petroleum Corp. for $4.21B. The deal will enable CNPC to indirectly acquire a 20% holding in the Area 4 natural gas field in Mozambique, after which Eni East Africa will retain a 50% stake in the field. (PR)
    | Mar. 14, 2013, 6:01 AM | 1 Comment
  • Nov. 9, 2012, 6:16 AM
    Exxon Mobil (XOM) is in talks with BP (BP), Shell (RDS.A), Lukoil, CNPC and Eni (E) about selling its stake in the West Qurna-1 oilfield in southern Iraq, a senior government spokesman says. Exxon expects to complete a sale of the "super-giant oilfield" by the end of December. It's getting out so it can concentrate on exploration projects in Kurdistan, which is in a dispute with Baghdad over the region's energy resources.
    | Nov. 9, 2012, 6:16 AM | Comment!
  • Jul. 1, 2012, 5:03 AM
    Shell (RDS.A), Total (TOT) and ENI (E) agree to sell 45% stakes in Nigerian oil assets to Heritage Oil (HGOCF.PK) and local partner Shoreline Power for $850M.
    | Jul. 1, 2012, 5:03 AM | Comment!
Company Description
Eni SpA together with its subsidiaries offers integrated energy services. Its business segments include Exploration & Production, Gas & Power and Refining & Marketing.