ENI.MI - Eni S.p.A.
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 8.96 |
| Open | 8.96 |
| Bid | 9.42 x 0 |
| Ask | 9.55 x 0 |
| Day's Range | 9.06 - 9.54 |
| 52 Week Range | 6.26 - 14.94 |
| Volume | 39,009,905 |
| Avg. Volume | 28,031,334 |
| Market Cap | 33.961B |
| Beta (5Y Monthly) | 0.79 |
| PE Ratio (TTM) | 14.02 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.86 (9.59%) |
| Ex-Dividend Date | May 18, 2020 |
| 1y Target Est | N/A |
- Zacks
Eni (E) to Restructure, Separate Green Energy From Oil & Gas
Eni's (E) newly created Energy Evolution will focus on the transition from fossil fuels to renewable sources.
- Reuters
ExxonMobil's delayed FID on Mozambique project should come next year -official
The oil giant postponed its FID for the project, which had been expected this year, in March as the coronavirus outbreak and an oil price slump forced firms to delay projects and slash spending. "The final investment decision of the Rovuma LNG project has been postponed to, in principle, next year," INP Chairman Carlos Zacarias told a press conference, referring to the project in the gas-rich province of Cabo Delgado led by Exxon.
- Reuters
Eni appoints Citi to sell Australia gas assets - sources
Italian energy group Eni is working with investment bank Citi to sell natural gas assets in Australia that could fetch up to $1 billion, sources said. The sale, which is expected to be launched next week in a two-round process, could see Eni all but exit from Australia. Eni declined to comment, while Citi was not immediately available for comment.
- Reuters
Investor Legal & General to vote against Exxon chair re-election over climate
British investor Legal & General said on Wednesday it would vote against re-electing the chair of Exxon Mobil at a shareholder meeting on May 27, saying the U.S. oil giant had not done enough to tackle climate change. Legal & General Investment Management (LGIM), which has $1.5 trillion under management and owns about 0.5% of Exxon or shares worth about $1 billion, said the U.S. company had not disclosed its full greenhouse gas emissions and had failed to set company-wide emissions reduction targets.
- Oilprice.com
The Unnoticed Power Grab Unfolding In Libya’s Oil Crescent
The situation on the ground in Libya is growing worse and forces of Field Marshall Haftar continue to effectively blockade all Libyan ports and export terminals
- Reuters
Iraq emerging as OPEC's main laggard in making record output cut - sources
Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an OPEC deal with Russia and other producers on a record supply cut, traders and industry sources said. Less than full compliance by Iraq, as well as by smaller producers such as Nigeria and Angola, could hurt the OPEC+ group's efforts to cut output by 9.7 million barrels per day from May 1, equivalent to about 10% of world demand before the coronavirus crisis led to a slide in consumption and prices.
- Thomson Reuters StreetEvents
Edited Transcript of ENI.MI earnings conference call or presentation 24-Apr-20 10:00am GMT
Q1 2020 Eni SpA Earnings Call
- Reuters
Iraq faces problems cutting 1 mln bpd of crude output -sources
BASRA, Iraq/BAGHDAD, April 30 (Reuters) - Iraq will struggle to cut crude output a record 1 million barrels per day (bpd) or 23 % from May under OPEC's deal with Russia and other producers, and Baghdad has yet to agree with oil majors about where the cuts will come from, industry sources said. Majors such as BP, Exxon Mobil, Lukoil and Eni produce the lion’s share of Iraq’s output and have so far resisted calls for cuts, prompting Iraqi officials to review options such as asking the companies to bring forward field maintenance. Less than full compliance by Iraq could hurt the OPEC+ group's efforts to curtail supply by as much as 9.7 million bpd to support oil prices that have crashed along with fuel demand during the coronavirus outbreak.
- Bloomberg
It's Politics as Usual in Italy's State-Led Firms
(Bloomberg Opinion) -- The anti-politics Five Star Movement may be part of Italy’s ruling coalition, but recent nominations to the boards of Italy’s state-backed companies look as pro-politics as ever.Oil major Eni SpA, utility Enel SpA and defense group Leonardo SpA are among those that get a boardroom review every three years. The quixotic hope is that appointments are made via a clear process and at arm’s length from politics. This time around, unfortunately, one gets the impression of low-level horse trading.Nominations seem to have been crudely carved up between the two sides of the ruling coalition, with the Democratic Party choosing the chief executives and Five Star nominating the chairmen. This turns good governance into a political balancing act.The CEOs have mainly been reconfirmed in their roles. Fair enough. Ditching well-regarded executives in a crisis risks creating instability when it can least be afforded. All the same, the Democratic Party could be seen as merely ratifying the candidates it appointed or confirmed last time around.At the chairmen level, new faces abound. Assuming these are Five Star placements, it’s hard to believe there’s no agenda in forcing change. Eni receives a commercial law professor, who is also on the board of the publisher of newspaper Il Fatto Quotidiano. The paper has recently been critical of CEO Claudio Descalzi, who is the subject of litigation relating to corruption allegations. Meanwhile, Enel gets a banking regulation lawyer, who advised the bailed-out Banca Monte dei Paschi di Siena SpA. Over at defense group Leonardo SpA, the new chairman is, sensibly enough, the head of Italy’s foreign intelligence services. But a different board nominee has created controversy over reported ties to foreign affairs minister Luigi di Maio.The acid test is what independent shareholders will make of all this. The Eni appointment sends a message to Descalzi that governance must be taken seriously and that he should not relax even if the litigation against him (which is now concluding) fails. The snag is that the oil industry is facing its biggest operational and strategic challenge in decades, with Brent crude at a lowly $21 per barrel and clean energy an investment imperative. If a crisis of this magnitude isn’t the time to pair Descalzi with an industry veteran, then when is?Over at Enel, outside shareholders will have questions about the strategic implications of installing a new chairman right now. Enel has been under pressure to combine its fiber broadband unit with that of Telecom Italia SpA, to help provide universal internet access — a central Five Star goal. Thus far, CEO Francesco Starace has been cautious about agreeing to a deal. The logic and terms of such a transaction would be a concern to Enel’s non-state investors who own the majority of the group.Of course, the chairman role at Italian state-owned companies is really more administrative than in, say, a U.K. company where the occupant can fire the CEO. At all three of these firms, CEO and chairman alike answer to the state. The government can phone up Starace and dictate aims any time. Besides, finding the perfect chairman or CEO is tough anywhere. The holy grail is someone who has relevant experience, strategic vision and can strengthen the diversity of the board. They don’t exactly grow on trees.But depoliticizing these appointments has to start somewhere. Pandemic bailouts will see more firms taking on the state as a shareholder. If supposedly anti-politics Italy is anything to go by, those holdings will be kept awkwardly close.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Eni says rocket episode in southern Iraq relatively far from its Basra ops
Italian oil and gas group Eni said on Monday rockets that landed in southern Iraq had fallen some distance from its Zubair field and operations continued. "All personnel of the field are in a safe condition and production hasn't been affected," an Eni spokeswoman said. Three rockets landed on Monday near U.S. oil service company Halliburton's site in Basra, without causing casualties, the Iraqi military said earlier on Monday.
- Reuters
Italy plans to widen special powers over strategic sectors
Italy plans to extend the special powers it has to shield key industries from unwanted foreign interest, a senior government official said on Saturday, adding that the measures would apply to investors from other European Union nations. The plan reflects concerns in Italy's ruling coalition that foreign investors could take advantage of the recent collapse of share prices triggered by the coronavirus crisis to buy assets in industries deemed as strategic for the country. Cabinet undersecretary Riccardo Fraccaro said on Saturday that Rome would expand its vetting powers to the whole banking and insurance sector, as well as the health and food industry.
- Simply Wall St.
Should You Worry About Eni S.p.A.'s (BIT:ENI) CEO Pay?
Claudio Descalzi has been the CEO of Eni S.p.A. (BIT:ENI) since 2017. This report will, first, examine the CEO...
- Reuters
Eni to cut spending and buyback plans due to coronavirus fears
Italian energy group Eni followed rivals on Wednesday by cancelling a share buyback and sharply cutting investments as a result of the coronavirus outbreak and falling oil prices. "Eni's priorities at the moment are safeguarding the health of our people and the communities we operate in, as well as our robust balance sheet and the dividend," Eni CEO Claudio Descalzi said in a statement. Oil prices plunged on Wednesday after Goldman Sachs said lockdowns to counter the coronavirus pandemic raised the prospect of the steepest ever annual fall in oil demand.
- Barrons.com
European Oil Stocks Pay Amazing Dividends — and They May Even Be Safe
Royal Dutch Shell stock, which has fallen by 50% in a month, was yielding 16% on Wednesday. BP had a dividend yield of 14%. Goldman Sachs says the market is too pessimistic.
- Reuters
CPC shareholders in standoff after Transneft blocks new board - sources
The CPC pipeline, essential to ship 1.4 million of light Caspian barrels per day (bpd) to the Mediterranean markets, is facing a shareholder standoff after its board was dissolved, potentially hitting further expansion plans, three sources said. The Caspian Pipeline Consortium (CPC), the largest privately-operated route connecting oil fields in Kazakhstan and Russia with the Black Sea, is co-owned by a number of shareholders with a history of failing to reach agreement. Disagreements between Russia's oil pipeline monopoly Transneft, Kazakhstan and other shareholders have capped expansion plans in the past.
- Insider Monkey
Is Eni SpA (E) A Good Stock To Buy?
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
- Reuters
Italy to allow AGM delays, freezing state-owned firm appointments -source
Italy is set to approve a measure allowing companies to postpone their annual general meetings due to the coronavirus emergency, in a move that delays appointments at strategic state-controlled firms, a government source told Reuters on Friday. An emergency decree is expected to allow companies to postpone their AGMs by three months, said the source, who asked not to be named because of the sensitivity of the matter. The boards of directors of state-owned groups such as oil giant Eni, utility Enel, defence group Leonardo and bank Monte dei Paschi di Siena come up for renewal in the spring.
- MarketWatch
Coronavirus update: 113,575 cases, 3,995 deaths, Italian stocks dive
The rapidly growing outbreak of COVID-19 in Italy combined with worries about an oil price war sent the stocks of some of Italy’s largest companies tumbling.
- Reuters
Venezuela's oil exports rose 9% ahead of wind-down expiration date -data
Venezuela's oil exports rose 9% in February from the previous month, as some buyers rushed to take cargoes ahead of the expiration of a wind-down period as part of new U.S. sanctions on PDVSA and its trade partners, data from the state-run firm and Refinitiv Eikon showed. Washington imposed tough sanctions on PDVSA in 2019 and launched a strategy of "maximum pressure" this year to oust Venezuela's President, Nicolas Maduro, extending sanctions to PDVSA's main trade partner, Rosneft Trading, while making threats on other customers. Prior to sanctions, the United States was the biggest buyer of Venezuela's oil.
- Simply Wall St.
Are Eni S.p.A.’s (BIT:ENI) Returns On Investment Worth Your While?
Today we'll evaluate Eni S.p.A. (BIT:ENI) to determine whether it could have potential as an investment idea. In...
- Reuters
Italy's Eni says offshore Mexico find could make block commercial
Italy's state-controlled oil company Eni said on Monday it notched an offshore discovery just off Mexico's southern Gulf Coast, marking "a potential commercial outcome" in its area because of other nearby prospects. The new find is believed to contain between 200 million and 300 million barrels of light oil at a water depth of 1,115 feet (340 m) and comes about two years after the company said it had raised the estimate from a separate offshore prospect in Mexico to 2 billion barrels. The Milan-based company said in a statement that its Saasken-1 exploratory well that made the discovery was about 40 miles (65 km) off the Mexican coast, marking the sixth consecutive successful well drilled in its offshore acreage in the country.
- Reuters
Pompeo blasts corruption, promotes U.S. business in Africa trip
U.S. Secretary of State Mike Pompeo denounced corruption and touted American business on Monday during the second leg of an African tour in Angola, where the government is seeking to claw back billions of dollars looted from state coffers. Pompeo is aiming to promote U.S. investment as an alternative to Chinese loans while assuaging concerns over a planned U.S military withdrawal and the expansion of visa restrictions targeting four African countries.
- Simply Wall St.
Are Dividend Investors Making A Mistake With Eni S.p.A. (BIT:ENI)?
Today we'll take a closer look at Eni S.p.A. (BIT:ENI) from a dividend investor's perspective. Owning a strong...
- Reuters
RPT-IMF aid to Congo Republic on hold over Glencore, Trafigura impasse
LONDON/JOHANNESBURG, Jan 24 (Reuters) - Talks to salvage a tentative $1.7 billion debt restructuring between Congo Republic and energy traders Glencore and Trafigura are stuck, sources said, jeopardising an International Monetary Fund bailout for the debt-hobbled nation.
- Reuters
Congo Rep. debt could be one-third higher than IMF estimate - campaign group
Congo Republic's public debt could be more than one-third higher than the International Monetary Fund estimated when it awarded a bailout last year because of liabilities held by the state oil company, environmental and rights group Global Witness said on Monday. If confirmed, this increase could hinder the OPEC producer's economic recovery from a downturn that began in 2014 when oil prices dropped sharply, causing debt levels to balloon to 118% of GDP in 2017. The IMF plan for Congo Republic was agreed last year after Brazzaville renegotiated a portion of its Chinese debt.
