One of the most cherished assets held by Italy’s largest oil company, Eni SpA, isn’t a refinery or an oilfield -- it sits inside a building in the small town of Ferrera Erbognone near Milan: one of the world’s fastest super- computers.
Petrofac has teamed up with Faroe Petroleum and Eni Hewett to establish a cost saving partnership across their UK operations in the Southern North Sea. The tripartite agreement is aimed at driving efficiencies and commercial synergies. Petrofac will share logistics across the Schooner, Hewett and Ketch gas fields to share logistics and accommodation services across the facilities.
Wood Mackenzie said the global decline in oil price has had a “transformative” impact on the oil majors. Analysis by Wood Mackenzie identified four key themes which will continue into the next year in terms of companies’ budgets and strategies. Tom Ellacott, head of corporate upstream analysis, said key trends for oil majors already identified included weak financial performance in the third quarter of the year, a boost in production levels, deep cost cutting and tighter allocation on limited capital.
Statoil and joint venture partners have submitted a winning bid on the A5-A block offshore Mozambique in the fifth competitive bidding round.
The concept of using wind power for offshore oil and gas applications has taken a step forward after several oil majors signed up for a joint industry project to explore the technology.
MOL Group has signed a deal to acquire Eni's business in Hungary. The company said the move would contribute to MOL's growing retail presence within the supply radius of its refineries.
The chief executives of 10 of the world’s largest oil and gas companies have declared their support for an effective climate change agreement to be reached. The United Nations (UN) Conference of Parties to the UN Frameworks on Climate Change (COP21) will take place in Paris in December. The bosses of the companies which make up the Oil and Gas Climate Initiative (OGCI) confirmed they recognised the general ambition to limit global average temperature rise to two degrees and that the existing trend of the world’s net global greenhouse gas (GHG) is not consistent with this ambition.
Saipem has been awarded new offshore contracts cumulatively valued at more than 600million euros.
Mexico’s flirting with the international oil industry got off on the wrong foot, but they finally have something going.
Oil dropped for a second day after the US Federal Reserve left borrowing costs unchanged because of concern about recent global economic turmoil.
Eni and Total have entered into a special license and R&D cooperation agreement for Eni Slurry Technology (EST) and to evaluate and tailor the technology to Total’s requirements.
UK independent Rockhopper Exploration hopes to boost its coffers following the completion of a new sidetrack well in the Mediterranean.
Shares of the natural-gas exploring units of Delek Group Ltd. plunged the most in 14 years in high volume on concern the discovery of the Mediterranean’s largest field off the coast of Egypt will curtail their exports. Delek Drilling LP and Avner Oil Exploration LLP, partners in the Leviathan field, declined the most since 2001 in above- average trading volumes at the close in Tel Aviv after Eni SpA discovered the “super giant” field that it says may hold 30 trillion cubic feet of gas, enough to contribute to Egyptian supply for decades. Delek Group dropped 12 percent, the biggest loss since Dec. 23. Ratio Oil Exploration 1992 LP fell 23 percent. The companies are jointly drilling Leviathan, Israel’s largest offshore field, with Houston-based Noble Energy Inc.
Italian energy group Eni is open to selling a stake in its mega gas discovery in Egypt, as it has done for another gas field in Mozambique, its chief executive said in a newspaper interview published on Monday.
Italian energy company Eni has discovered a “supergiant” natural gas field off Egypt.
The chief executive of Eni has met with the President of Nigeria to express condolences over an explosion in the country in June which killed 14 people. Claudio Descalzi met with Mohammadu Buhari for the first time since the President was elected earlier this year.
Ghana has received $700million in guarantees from the World Bank for its transformational Sankofa gas project, which is claimed will address the country's chronic energy shortage.
Italian oil and gas group Eni raised its production targets for the year on Thursday as second-quarter net profit slumped due to lower oil prices and a heavy loss at oil contractor subsidiary Saipem. State-controlled Eni said adjusted net profit in the second quarter was 0.14 billion euros ($153 million), below the consensus forecast of 0.48 billion euros in a Reuters poll of analysts. Stripping out the Saipem effect, adjusted net profit was 0.45 billion euros. On Tuesday, Saipem reported a quarterly adjusted operating loss of 738 million euros after heavy writedowns as part of a turnaround plan.
Italy’s Foreign Minister said “prudence and discretion” were essential as the country attempts to bring four kidnapped oil workers home from Libya. The families of four men have been in an anxious wait for news after they were taken near to an industrial complex owned by energy company Eni in the western city of Mellitah. Foreign Minister Paolo Gentiloni said: "Prudence and discretion....are needed to bring home our four countrymen.
Four Italian workers have been kidnapped in Libya. The incident happened near an industrial complex owned by energy company Eni in the western city of Mellitah. The Italian Foreign Ministry said the employees had been kidnapped on Sunday.
Italy's Eni has discovered gas reserves of up to 15 billion cubic metres in Egypt's Nile Delta region, with production set to start in two months, the Egyptian oil ministry said on Monday. The discovery was made in Western Abu Madi, 120 km northeast of Alexandria, where Eni holds 75 percent of exploration rights through an Egyptian subsidiary, with Britain's BP holding a 25 percent stake. Eni made the discovery at a depth of 3,600 metres and initial estimates point towards reserves of up to 15 billion cubic metres of natural gas and natural gas condensate, an Egyptian oil ministry statement quoted the company as saying.
Twelve people died and three were injured in an explosion during repair work at an Eni SpA crude oil pipeline in Nigeria. The victims worked on a maintenance team for a local service company, Rome-based Eni said in a statement Friday. The Tebidaba-Clough Creek pipeline in the Niger delta was previously “damaged by acts of sabotage.” The company said it is still investigating the cause of Thursday’s blast.
Egypt has raised the prices it pays Eni and Edison for the natural gas they produce in the country, an official with state-owned gas company EGAS said on Sunday. The agreements mark the latest move by Egyptian authorities to improve terms for foreign oil and gas businesses in the hope that more competitive pricing will encourage investment in the energy-hungry country.
Energy service giant Petrofac said today its projects and operations business unit had secured contract renewals for UK North Sea work worth a total of about $400million (£252million).
Italian oil and gas firm Eni have signed two Production Sharing Contracts (PSC) for offshore blocks in south-east Asia.