Edin. New It Share Discussion Threads

[maywillow] 10/1/2022 16:50

Eni
12.714 -0.59%

[maywillow] 10/1/2022 16:49

Consensus

Mean consensus OUTPERFORM
Number of Analysts 26

Last Close Price 12,79 €

Average target price 14,38 €

High Price Target 18,00 €

Low Price Target 11,50 €

[maywillow] 10/1/2022 14:40

The licenses are located in the Eastern Mediterranean Sea, Western Desert and Gulf of Suez

San Donato Milanese (Milan), January 10th, 2022 – Eni has been awarded five new exploration licenses by the Egyptian Ministry of Petroleum. The licenses, four of which as Operator, are in the Egyptian offshore and onshore, and follow the successful participation to the 2021 competitive “Egypt International Bid Round for Petroleum Exploration and Exploitation” which was previously announced by the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company through the Egypt Exploration and Production Gateway.

The licenses are located in the Eastern Mediterranean Sea (Block “EGY-MED-E5221; in partnership with BP 50%-50% and Block “EGY-MED-E6221; IEOC 100%), in the Gulf of Suez (Block “EGY-GOS-13221; IEOC 100%) and in the Western Desert (Blocks “Egy-WD- 7” in partnership with APEX 50%-50% and “EGY-WD-9̶1; IEOC 100%) with a total acreage of about 8,410 sqkm. The licenses are placed within prolific basins with proved petroleum systems able to generate liquid and gaseous hydrocarbons and can also rely on nearby existing producing and processing facilities and on a demanding market that will allow a quick valorization of the potential exploration discoveries.

The bid results are aligned with Eni’s strategy to keep exploring and producing gas to sustain the Egyptian domestic market and contribute to LNG export, thanks to the recent restart of the Damietta LNG plant.

Eni has been present in Egypt since 1954 and is currently the country's main producer with equity hydrocarbon production of around 350,000 barrels of oil equivalent per day.

[waldron] 06/1/2022 09:41

ENI : Receives a Buy rating from RBC
01/06/2022 | 08:25am GMT


In a research note published by Biraj Borkhataria, RBC advises its customers to buy the stock. The target price continues to be set at EUR 15.

[waldron] 28/12/2021 08:27

Eni signs agreements for electric vehicle charging
ROME, 3 hours, 10 minutes ago

Italian energy major Eni, Enel X and Be Charge, a subsidiary of Eni gas e luce, have signed agreements enabling electric drivers to fill up their vehicles with energy throughout Italy using the infrastructure of the three companies, which has around 20,000 electric charging points.

Enel X, the country’s largest operator in the public charging infrastructure sector with over 13,000 points, and Be Charge, the second largest player in Italy, manage the country’s main electric vehicle charging networks. They have a widespread presence in all regions and major cities and an investment plan that aims to spread e-mobility through the installation of high-powered chargers that allow an ultra-fast, easy and totally safe charging experience.

The partnership between the companies enables interoperability between their charging networks, allowing customers to access the service easily from their smartphones via the Enel X, Be Charge and Eni Live apps, and thus charge indifferently on the Enel X and Be Charge networks.

“The interoperability of charging infrastructures is a fundamental element in the strategy to spread electric mobility in Italy, and that is why we are very pleased to have reached an agreement with Be Charge and Eni, operators who, like us, strongly believe in the electrification of transport,” said Federico Caleno, Head of e-Mobility Italy.

“In recent years we have built a comprehensive charging network covering the entire Italian peninsula, allowing people to drive electric cars with total peace of mind. Today, through this partnership, we are further demonstrating how important it is to work in synergy with partners to make the transition to electric power even easier and more affordable.”

Simone Zuccotti, President of Be Charge and Head of Innovation and Business Development at Eni gas e luce, said: “The agreements fit perfectly into Be Charge’s strategy of offering travellers an increasingly easy energy refuelling experience and even more innovative services.

“Thanks to strategic partnerships, such as those with Enel X and Eni, we want to confirm once again our commitment to sustainable mobility, a key element in the energy transition to which we wish to contribute through the appropriate dissemination of charging systems and the infrastructure to manage them. We have a plan for rapid growth in Europe, aiming to reach more than 31,000 charging points by 2030.”

“This synergy is part of Eni’s broader strategy for the mobility of the future, which includes the evolution of the current service stations, mobility points at which we plan, among other things, to offer fast and ultra-fast charging for electric mobility. The plan includes the installation of more than 1,000 charging stations on the network of our stations in Italy and abroad by 2025,” stated Giovanni Maffei, Head of Green and Traditional Refining & Marketing at Eni.

“In addition, interoperability for electric vehicle charging is included in our Eni Live app, which allows drivers to access various services with increasingly automated, efficient and secure payments.”

The agreement benefited from the exemption from the application of the rules on transactions between related parties pursuant to the procedures adopted by Enel and Eni.- TradeArabia News Service

[gibbs1] 25/12/2021 10:21

Egypt, Italy's Eni sign $1 billion agreement for oil exploration in Gulf of Suez and Nile Delta

Mohamed Soliman , Friday 24 Dec 2021

The Egyptian General Petroleum Corporation (EGPC) has signed an agreement with the Italian giant energy group Eni for oil exploration and exploitation in the Gulf of Suez and Nile Delta regions worth $1 billion, Egypt's Ministry of Petroleum and Mineral Resources announced on Friday.



Minister of Petroleum and Mineral Resources Tarek El-Molla, EGPC's CEO Abed Ezz El-Regal, and Eni's Executive Director of Operations Alessandro Politi signed the agreement.


The statement pointed out that the deal with the Italian energy giant comes within the framework of the petroleum ministry's strategy to increase production rates and address the natural decline in wells bu using the latest technology.

The ministry also seeks to encourage partners to invest more in the field of oil and gas exploration, the statement added.

In recent years, Eni has taken part in important oil discoveries in the country's Western Desert as well as the operation of gas plants, as the country aims to become a regional energy hub.

Eni has been operating in Egypt through its subsidiary, the International Egyptian Oil Company (IEOC) Production BV, since 1954.

In 2015, the Italian energy giant discovered the giant Zohr gas field, the biggest-ever in the Mediterranean, off the Egyptian coast.

Zohr is located within the Shorouk concession, nearly 190 km north of the city of Port Said. Eni holds a 50 percent stake in the block and is responsible for operations there. The other stakeholders are Rosneft (30 percent), BP (10 percent) and Mubadala Petroleum (10 percent). Zohr’s daily production exceeded three billion cubic feet in 2020, making up 40 percent of Egypt’s total gas output. The total reserves of the Zohr gas field are estimated at 30 trillion cubic feet.

[waldron] 15/12/2021 17:51

Stocks
Eni (E) Signs Deal With Sonatrach in Algeria's Berkine Basin
Contributor
Zacks Equity Research Zacks
Published
Dec 15, 2021 11:04AM EST

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Eni SPA E entered an exploration and production agreement with Sonatrach in the onshore Berkine Basin in Algeria, where the companies have been operating since 2013.

The $1.4-billion agreement, which covers 7,880 square kilometers, involves the exploration and production of oil and gas in the southern part of the Berkine Basin. Eni is already a leading player in the basin.

In the initial stage, the project expects the rapid development of reserves estimated at 135 million barrels of oil equivalent. Production from the Berkine Basin is anticipated to start by the end of 2022. The project, the first-ever signed under the new Algeria oil law, will boost synergies with the companies’ existing plants.

In December 2020, Eni and Sonatrach signed an agreement to bolster their exploration and production partnership in the Berkine Basin. The deal enabled the companies to form a road map for new hydrocarbon contracts there as part of Algeria’s new hydrocarbon law, which provides much improved financial terms for investors.

Eni and Sonatrach also signed a memorandum of understanding (MoU) to work on clean energy goals. The MoU aims to enhance the existing technological collaboration and reduce emissions. The agreement allows the assessment of joint opportunities focused on renewables, hydrogen, carbon dioxide capture, use and storage, bio-refining, and other activities. The agreement is well-aligned with Eni’s pledge to reach net-zero emissions by 2050.

Eni has had a presence in Algeria since 1981. The Italy-based oil major is a leading energy company operating in the country, with various mining permits. The company has an equity production of 95,000 barrels of oil equivalent per day in Algeria.
Company Profile & Price Performance

Headquartered in Rome, Italy, Eni is one of the leading integrated energy players in the world.

Shares of Eni have outperformed the industry in the past six months. The stock has gained 5.8% compared with the industry’s 0.8% growth.



Zacks Investment ResearchImage Source: Zacks Investment Research

Zacks Rank & Key Picks

Eni currently carries a Zack Rank #3 (Hold).

[waldron] 10/12/2021 20:23

Stocks
Eni (E) Reaches FID for Angola's Caraculo Photovoltaic Project
Contributor
Zacks Equity Research Zacks
Published
Dec 10, 2021 10:19AM EST


Eni SPA E and joint venture partner Sonangol reached a final investment decision (FID) to develop the Caraculo photovoltaic power plant in Angola.

Solenova signed an engineering, procurement and construction contract for the first phase of the solar power plant. Solenova is a joint venture between Eni and the state-owned oil and gas company, Sonangol. Eni expects the facility to start operating in the fourth quarter of 2022.

The project involves the installation of 50 megawatts-peak of solar photovoltaic panels near Caraculo. The project is situated in the Namibe province, which is known for its severe drought rather than oil resources.

The Caraculo photovoltaic plant will be a major source of electricity from renewable resources in the Namibe province. This will reduce the utilization of diesel to generate electricity, thereby reducing greenhouse gas (GHG) emissions and further boosting Angola’s clean energy transition.

The commissioning of the project is expected to reduce the energy deficit between the north of Angola, where the majority of the infrastructure is centered, and the south of the country. Angola authorities are working on expanding the country’s electricity mix, and increasing electricity generation and transmission infrastructure in the south.

Eni has a major presence in the African country of Angola, with investments in the upstream, downstream, gas and power, and renewables sectors.
Company Profile & Price Performance

Headquartered in Rome, Italy, Eni is one of the leading integrated energy players in the world.

Shares of Eni have outperformed the industry in the past six months. The stock has gained 11.1% compared with the industry’s 8.7% growth.





Eni currently carries a Zack Rank #3 (Hold).

Investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Marathon Petroleum Corporation MPC is a leading independent refiner, transporter and marketer of petroleum products. Marathon Petroleum's $23.3 billion acquisition of Andeavor has integrated the premier assets of both companies, bolstering the scale and leadership position of the combined entity in the United States.

In the past year, shares of Marathon Petroleum have gained 53.6% compared with the industry's growth of 28%. MPC's earnings for 2021 are expected to surge 155.3% year over year. MPC currently has a Zacks Style Score of A for Momentum. MPC repurchased shares worth $1.5 billion during the July-October period as part of its announcement to buy back $10 billion worth of common stock.

Continental Resources, Inc. CLR is an explorer and producer of oil and natural gas. CLR operates resources across the East, South and North areas in the United States. Moreover, Continental Resources’ strategic water assets add huge value to its operations in Bakken and Oklahoma. As of Dec 31, 2020, CLR’s estimated proved reserves were 1,103.8 MMBoe.

In the past year, shares of Continental Resources have gained 145.4% compared with the industry’s growth of 96.2%. CLR’s earnings for 2021 are expected to surge 485.5% year over year. CLR currently has a Zacks Style Score of A for Growth and B for Value. Notably, CLR’s board of directors increased its quarterly dividend payment to 20 cents per share from 15 cents in the previous quarter. Continental Resources also resumed its existing stock repurchase program. It already executed $65 million of share repurchases in the September-end quarter, while $618 million of the share-repurchase capacity remains available.

APA Corporation APA is one of the world's leading independent energy companies that engage in the exploration, development and production of natural gas, crude oil and natural gas liquids. One of the largest oil producers in Permian, APA has more than 2.9 million gross acres in the region, with exposure to Midland Basin, Delaware Basin, and Central Basin Platform/ Northwestern Shelf. As of 2020 end, APA had a proved reserve base of 874 million oil-equivalent barrels.

APA’s earnings for 2021 are expected to surge 477% year over year. APA currently has a Zacks Style Score of B for growth, and A for both Growth and Momentum. Recently, the company got approval from the board of directors to double the quarterly dividend to 12.5 cents per share. APA management sees the dividend hike as the beginning of its path to return ‘a higher percentage of cash flow’ to its investors.


APA Corporation (APA): Free Stock Analysis Report

Eni SpA (E): Free Stock Analysis Report

Marathon Petroleum Corporation (MPC): Free Stock Analysis Report

Continental Resources, Inc. (CLR): Free Stock Analysis Report


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

[sarkasm] 07/12/2021 09:52

Eni's Angolan JV takes FID, inks EPC for 50-MWp solar project
Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

December 7 (Renewables Now) - The joint venture (JV) between Italian oil and gas major Eni SpA (BIT:ENI) and its Angolan state-controlled peer Sonangol has taken the final investment decision (FID) and signed the EPC contract to build the first half of a 50-MWp solar plant project in the southwestern African nation.

Their Solenova Ltd JV will install the 25-MWp first phase of the Caraculo photovoltaic (PV) project in Angola’s Namibe province.

Eni said on Monday it expects to start-up the solar farm in the fourth quarter of 2022.

The EPC contractor was not named in Eni's press release.

Once in operation, the Caraculo solar will enable the local community reduce diesel consumption and cut emissions, the Italian company said.

Eni and Sonangol formed Solenova in 2019 with the goal to develop renewable energy projects in Angola. The phased development and implementation of the 50-MWp Caraculo is their first project in the country.

[grupo guitarlumber] 06/12/2021 07:07

Ex-div date 23 May 2022 (Mon)

Pay date 25 May 2022 (Wed)

[grupo guitarlumber] 06/12/2021 06:59

Upcoming events on ENI S.P.A.

february/18/2022 FY 2021 Earnings Release (Projected)

april/29/2022 Q1 2022 Earnings Release (Projected)

[grupo guitarlumber] 06/12/2021 06:56

thanks

next dividend due May 2022 at 0.43 euros

[ariane] 06/12/2021 06:46

2021 Shareholders’ remuneration

Based on the shareholders remuneration policy announced to the market at the 2021 Strategy Day, this July we set a 2021 Brent Reference price of 65 $/bbl. In order to define our price deck we took into account the actual price to date, the expected trend, market fundamentals and the prospects of the oil market.

Such Brent reference price triggers a 2021 dividend of 0.86 €/share, more than doubling the size of our 2020 dividend and recovering the pre-COVID level. In line with our policy, half of the dividend will be paid in September and the remaining in May 2022.

The € 400 million buy back program began in August, to be completed within the next 6 months from the start.

[waldron] 06/12/2021 06:06

While Shell Resists Breakup, Rivals See Opportunity From Spinoffs

Italy's Eni and other European energy conglomerates are spinning off parts of their low-carbon energy assets or considering such moves to boost returns

published : 6 Dec 2021 at 04:30


writer: Ben Dummett


THE WALLSTREET JOURNAL



Royal Dutch Shell PLC is standing firm against Third Point LLC's call for a breakup of the oil giant to retain and attract investors. But that isn't stopping Eni SpA and other European energy conglomerates from targeting similar moves to boost shareholder returns.

Shell has defended its integrated strategy by saying its legacy oil-and-gas assets are needed to fund its investments in lower-carbon energy.

But Daniel Loeb's Third Point says the structure is too unwieldy to value Shell.

Instead, the U.S.-based activist suggests the company, which plans to consolidate its dual British and Dutch structure and relocate its headquarters to London, should consider separating its legacy operations from its renewables investments to boost returns and accelerate carbon-dioxide-emission reductions.

The standoff shows the challenges energy companies face maintaining their record of dividend payouts while managing the more recent pressures of reaping full value for their increasing investments in green energy.

Eni's solution: spinning off a minority stake of its retail energy and renewables business next year through an initial public offering.

The move isn't as extreme as the breakup Third Point is pushing for at Shell, but the aims are similar: Simplify the company's structure, in this case, to attract a higher valuation and a lower cost of capital. That will allow the spun-off company to raise money more cheaply to expand the alternative energy business as more investors bet on growing demand for low-carbon assets over fossil fuels like oil and gas.

Analysts and investors say it is too early to know if Eni's IPO strategy will succeed over the longer term. It has paid off so far, with the stock outperforming Shell and other European rivals BP PLC and TotalEnergies SE since the plan's approval in October.

The move by Rome-based Eni "is a potential experiment for the rest of the sector, and if investors are receptive, we expect others to follow suit in the coming months and years," said Biraj Borkhataria, a London-based analyst at RBC Capital Markets.

Spain's Repsol SA is another major oil producer considering splitting out its low-carbon assets, and it is expected to make a decision next year. Spanish electricity utility Iberdrola SA in July indicated it may list part of its offshore wind-farm business in an IPO.

Eni's renewables business oversees a network of wind-farm and solar-power projects across parts of Europe, the U.S., Asia, Australia and Africa. The company aims to expand its installed capacity of renewable energy to 60 gigawatts in 2050 from 1 gigawatt last year.

That business's potential value suffers because it is dwarfed by the company's lower-growth traditional oil-and-gas business, measured by operating profit.

Eni's enterprise value trades at 3.5 times to its estimated earnings before interest, taxes, depreciation and amortization, according to S&P Capital IQ. By comparison, Denmark-based wind-farm operator Oersted A/S and U.S. alternative energy giant NextEra Energy Inc. each trade around 16 times that profit measurement.

Eni didn't disclose a valuation target for the new business when it detailed financial forecasts for the new company on Nov. 22.

Eni's shares have risen 3.6% since the IPO announcement, while Shell's have declined 1.3%, France's TotalEnergies has slipped 0.8% and BP is 1.2% lower.

The recent outperformance of Eni's shares relative to its peers shows that the spinoff plan has played a central role in the stock's strength, said Giacomo Romeo, an analyst at Jefferies International.

Spanish infrastructure and energy company Acciona SA has already demonstrated some of the benefits of a spinoff. In July, it listed a minority stake of its business that builds and operates wind- and solar-power projects. Corporacion Acciona Energias Renovables SA trades near 25 times its projected earnings estimates, above the parent company's multiple of 22 times.

By spinning off low-carbon assets, integrated energy companies create businesses that can appeal to institutional investors like the Ford Foundation and Dutch pension fund Horeca & Catering. These institutions are part of a growing number that are ending investments in fossil fuels or selling assets to help reduce global warming.

In September, Horeca & Catering sold out of its €250 million, equivalent to $283 million, worth of fossil-fuel stocks including Eni, Shell, BP and Exxon Mobil Corp.

The fund, which oversees €16 billion in assets, would still be allowed to consider investing in Eni's low-carbon business following its spinout into a separate publicly traded company. That assumes any revenue from oil and gas was less than 50% of the total, said Bas van Ooijen, a senior investment manager at the fund.

The Ford Foundation said a month later it planned to end fossil-fuel investments and that the move could undermine future returns. Horeca & Catering said its analysis shows no significant difference in its overall returns over the long term whether oil-and-gas stocks were included or excluded from its portfolio.

"There will be more cases where [integrated] companies will see an issue between what independent [alternative energy] players are valued at and the value of their low-carbon assets, especially as these businesses grow,'' said Mr. Romeo, the analyst at Jefferies.

[grupo guitarlumber] 02/12/2021 10:36

xxnjr
2 Dec '21 - 10:34 - 56221 of 56221
0 0 0
ENI will take it to the ICC for a ruling. see p 89 Article 24.1 of


"In the event that no agreement is reached within thirty (30) days after the
date when the State and/or GNPC on the one hand and the Contractor on the
other hand notifies the other that a dispute exists within the meaning of this
Article or such longer period specifically agreed to by the Parties or provided
elsewhere in this Agreement, any Party shall have the right subject to Article
24.10 to have such dispute settled exclusively through international arbitration
under the auspices of the International Chamber of Commerce (the "ICC") and
adopting the Rules of Arbitration of the Intemational Chamber of Commerce
(the "ICC Rules") in force on the date on which the proceedings are instituted,
which ICC Rules are deemed incorporated by reference into this Article 24,
save as otherwise provided herein."

[grupo guitarlumber] 02/12/2021 08:55

ENI and Accra on brink of divorce


The Italian oil company ENI is in open conflict with the government in Accra and may decide to pull out of the country.

Issue dated 02/12/2021

[waldron] 02/12/2021 05:42

Dow Jones

ADRs Close Mostly Lower; Eni Traded Actively

Published: Dec. 1, 2021 at 6:43 p.m. ET
0

International stocks trading in New York closed mostly lower on Wednesday.

The S&P/BNY Mellon index of American depositary receipts eased 0.2% to 155.02. The European index eased 0.1% to 138.30. The Asian index declined 0.3% to 207.64. And the Latin American index declined 0.7% to 169.98.

Meanwhile, the emerging-markets index edged up 0.1% to 341.92.

Eni SpA was among those whose ADRs traded actively.

Italian oil-and-gas company Eni SpA unveiled plans for its retail-and-renewable unit called Plenitude ahead of the planned listing of up to 30% of the business, and is also weighing up an IPO for Var Energy--both listings could boost investor returns, Berenberg says. The listings could unlock some hidden value in Eni depending on two key factors, the bank says. "The first factor is whether the new businesses command the multiples of standalone peers or whether the market will value them at a discount," it says. "The second key factor will be whether the market will give full credit in Eni shares for the sum-of-the-parts valuation." Berenberg upgrades Eni to buy from hold. ADRs closed down 0.04% at $26.38.

[grupo guitarlumber] 01/12/2021 10:50

Eni: Report on the purchase of treasury shares during the period from 22 to 26 November 2021
01 December 2021 - 11:05 AM CET


San Donato Milanese (Milan), 01 December 2021 - During the period from 22 to 26 November 2021, Eni acquired n. 1,918,041 treasury shares, at a weighted average price per share equal to 12.24132 euro, for a total consideration of 23,479,351.42 euro within the authorization to purchase treasury shares approved at Eni’s Ordinary General Meeting of shareholders on 12 May 2021, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999.

[waldron] 01/12/2021 08:22

Berenberg upgrades his rating from Neutral to Buy. The target price is being increased from EUR 13.50 to EUR 14.

[waldron] 27/11/2021 12:12

trend.az


Eni sells some stakes to Snam

Oil&Gas

27 November 2021 14:49 (UTC+04:00)

Eni sells some stakes to Snam

BAKU, Azerbaijan, Nov.27

By Leman Zeynalova – Trend:

Eni has inked a deal with Snam to sell its 49.9 percent stake (directly and indirectly owned) in certain companies operating two groups of international gas pipelines connecting Algeria to Italy, Trend reports with reference to Snam.

In particular, the perimeter of the transaction includes the onshore gas pipelines running from the Algeria and Tunisia borders to the Tunisia coast (TTPC), and the offshore gas pipelines connecting the Tunisian coast to Italy (TMPC).

Eni will contribute its entire ownership interests in the two pipelines to a newly incorporated Italian company (NewCo) in which Eni will continue to hold a 50.1 percent stake, whereas the remaining 49.9 percent will be sold to Snam for a purchase price equal to 385 million euros.

Snam will fund the payment of the purchase price with its own financial resources.

The transaction will create synergies among the parties' respective areas of expertise in gas transport on a strategic route for the security of the natural gas supply in Italy, enabling potential development initiatives within the hydrogen value chain from North Africa.

The agreement also provides for an earn-in and earn-out mechanism to be calculated on the basis of the revenues that will be generated by the target companies. The target companies generated a net income (100 percent of Eni's stake) of around 90 million euros in 2020.

Eni and Snam will exercise joint control over the NewCo, on the basis of equal governance principles and both companies will therefore consolidate NewCo through the equity method.

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Follow the author on Twitter: @Lyaman_Zeyn