|Bid||15.232 x 0|
|Ask||15.234 x 0|
|Day's Range||15.214 - 15.528|
|52 Week Range||12.940 - 16.890|
|PE Ratio (TTM)||16.42|
|Earnings Date||Jul 27, 2018|
|Forward Dividend & Yield||0.80 (5.18%)|
|1y Target Est||17.73|
Mozambique’s oil and gas regulator said exploration contracts for the nation’s fifth licensing round in 2015, which awarded blocks to companies including Exxon Mobil Corp. and Eni SpA, are close to being finalized. Winners of the bidding round have awaited legislation and a new model for exploration and production concession contracts, which should be resolved by July, Agostinho Rodrigues Chibielo, an official at Instituto Nacional de Petroleo’s exploration division, said in an interview on the sidelines of a conference in Ghana’s capital, Accra. Once the contracts have been signed, Exxon plans to drill two wells and Eni at least one next year, he said.
Since trade tensions could drastically dent investor confidence, picking value stocks with low-beta looks like a smart option at this point.
The Zacks Analyst Blog Highlights: SAP SE, Infineon Technologies AG, Peugeot S.A., Ferrari N.V. and Eni S.p.A.
European stocks jumped, while the euro slumped against the dollar after the ECB indicated that it will not raise interest rates before summer 2019.
The Zacks Analyst Blog Highlights: CSX, Eni, Kimberly-Clark, Caterpillar and Check Point Software
Italy's Supreme Court threw out an appeal from Shell (RDSa.L) and four former Shell managers to stymie a corruption trial that has also involved Eni's (ENI.MI) chief executive, legal sources said on Wednesday. The long-running graft case on alleged corruption in Nigeria, revolves around the 2011 purchase by Eni and Shell of Nigeria's OPL-245 offshore oilfield for about $1.3 billion (974.3 million pounds). Nine current and former executives or contractors, including Eni Chief Executive Claudio Descalzi, have been accused by Italian prosecutors of paying bribes to secure the licence to explore OPL-245.
Venezuela is OPEC’s eighth-largest crude oil producer. Reuters estimates that Venezuela’s crude oil output decreased by 50,000 bpd (barrels per day) to 1,450,000 bpd in May—compared to the previous month. The country’s crude oil production is near a 15-year low.
The oil industry will face the biggest squeeze on its spare production capacity in more than three decades if OPEC and its allies agree next week to hike crude output, leaving the world more at risk of a price spike from any supply disruption. Spare capacity is the extra production oil producing states can bring onstream and sustain at short notice, providing global markets with a cushion in the event of natural disaster, conflict or any other cause of an unplanned supply outage. "You would essentially be taking 3.2 million barrels per day (bpd) of spare capacity down to approximately 2 million bpd," Jefferies analyst Jason Gammel said, adding global demand was 100 million bpd.
Eni Sp.A. (BIT:ENI), a €54.82B large-cap, operates in the oil and gas industry which has seen a prolonged oil price downturn since 2014. However, energy-sector analysts are forecasting for theRead More...
Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe. "Civilisation requires energy but energy use must not destroy civilisation," the pope told top oil company executives at the end of a two-day conference in the Vatican. Climate change was a challenge of "epochal proportions", he said, adding that the world needed an energy mix that combated pollution, eliminated poverty and promoted social justice.
Per Eni's (E) evaluations, the company's operations in Iran will not be subject to any specific waiver against the sanctions announced by the Trump administration.
European refiners are winding down oil purchases from Iran, closing the door on a fifth of the OPEC member's crude exports after the United States imposed sanctions on Tehran, company and trading sources said. The drop in crude purchases from the Islamic republic could complicate efforts by European governments to salvage the Iranian nuclear deal disavowed by U.S. President Donald Trump last month. Although European governments have not followed Washington by creating new sanctions, banks, insurers and shippers are gradually severing ties with Iran under pressure from the U.S. restrictions, making trade with Tehran complicated and risky.
On June 01, 2018, the press release was corrected as follows: In the list of affected ratings, under Eni S.p.A, removed the affirmation on Eni USA Inc. Backed Commercial Paper . Milan, May 30, 2018 -- Moody's Investors Service has today placed on review for downgrade the ratings on three non-financial corporates domiciled in Italy: Eni S.p.A. (Eni), Poste Italiane S.p.A. (Poste) and RAI -- Radiotelevisione italiana S.p.A. (Rai).
Italy's luxury carmaker Ferrari and Exor, the owners of Juventus football club, are among a host of companies that can now borrow money more cheaply than the country's crisis-hit government. Italian sovereign bond yields rose this week to some of their highest levels in years on fears that the country's eurosceptic politicians could win a stronger hand in potential elections, reviving the possibility of a eurozone break-up - or at least a repeat of the European Union's 2011-2012 crisis.
Analysts expect uncertainty about Italy's role in Europe and worries over its finances are here to stay, keeping markets turbulent, but investors say that could make good companies cheaper, boosting returns over the longer term. "In the last couple of weeks we've been investing a little bit more in Italy as prices have come down," said Luiz Sauerbronn, director at San Diego, California-based Brandes Investment Partners, where he helps manage $30 billion. "We're long-term investors and if people sell off indiscriminately Italy, we see an opportunity," he said.
RAPALLO, Italy - (Reuters) - Italy's oil and gas major Eni (ENI.MI) is in the process of reducing its stakes in its oilfields in Mexico and Indonesia, Chief Financial Officer Massimo Mondazzi said on Thursday. "We define our strategy as "dual exploration": we normally start with a very high stake in a field and then reduce it through an ongoing process.
ExxonMobil Corp's (XOM.N) global oil marketing team stormed into China this week hoping to elbow aside rivals and gain access to the nation's "teapot" refining market, executives told Reuters. The push by Exxon, the world's biggest oil and gas company by market value, to court the independent refiners, known as teapots, illustrates the clout they are exerting on the global oil market since winning crude import licenses from the government in 2015. The refiners are big foreign crude buyers in a country that is now the world's largest oil importer.
(Reuters) - European oil companies' spending budgets are likely to be lower in 2018 and 2019, and that, along with improving project delivery, will drive the strongest volume and cash flow growth in over ...
The Eastern Mediterranean is a region that has the potential to become a key energy player, but geopolitics may well get in the way as different powers struggle for energy dominance
No stocks gained this week in the US integrated energy sector. So we’ll now look at the biggest losses from the sector this week.
OSLO (Reuters) - The largest labour union representing workers on Norwegian offshore oil drilling rigs has agreed to a new wage deal, it said on Friday, while a smaller union said it would ask its members ...