Edin. New It Share Discussion Threads

[sarkasm] 15/12/2022 13:47

Italy's Saipem Wins Offshore Contracts in Guyana, Egypt for Around $1.2 Billion
12/15/2022 | 01:32pm GMT


By Giulia Petroni

Italy's Saipem SpA on Thursday said that it has won two offshore contracts from Exxon Mobil Corp. and Petrobel for a total amount of around $1.2 billion in Guyana and Egypt.

The energy contractor said the contract awarded by ExxonMobil Guyana is for an oil-field development project in the Stabroek block, and is subject to government approvals.

The second contract awarded by Petrobel, a joint venture between Eni SpA and the Egyptian General Petroleum Corporation, is for the transportation, installation and pre-commissioning of 170 kilometers of umbilicals for the Zohr Field.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

12-15-22 0832ET

[waldron] 14/12/2022 14:50

ENI Downgraded to Sector Perform From Outperform by RBC, Price Target Kept at EUR14, Risk/Reward Seen as 'More Balanced'
12/14/2022 | 01:13pm GMT


(MT Newswires) -- ENI (E) received an investment rating downgrade on Wednesday to sector perform from outperform from RBC Capital Markets, which said it now sees the Italian oil and gas company's risk/reward as "more balanced from here."

RBC kept its price target on ENI's Italian shares at EUR14 per share. The shares, which were trading above EUR14 last month for the first time since June, were down 0.3% at EUR13.77 in recent Wednesday trading in Italy. US shares of ENI declined 1% in recent US premarket trading to $29.27.

"On the rare occasion a stock rallies through our price target, we take the opportunity to re-assess the investment case relative to peers," RBC analysts said in a Wednesday note to clients. Following that reassessment, "on balance, we believe the risk-reward is more balanced from here and we downgrade to sector perform," they added.

This comes as RBC described ENI's investment case as having been "overwhelmed by Italian macro" issues in 2022. "This year, relative exposures to Russia, issues around windfall taxes, and geopolitics have overwhelmed investment cases for many companies, including Eni," the RBC analysts said.

ENI's Italian shares have an average investment rating of outperform among analysts polled by Capital IQ, with price targets ranging from EUR13.90 to EUR20.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here:

Price: 29.2, Change: -0.36, Percent Change: -1.22

[grupo] 11/12/2022 13:34

Strong support 12.50 euros

[grupo] 11/12/2022 13:30

Declaration date 23 Feb 2023 (Thu)

Ex-div date 20 Mar 2023 (Mon)

Pay date 22 Mar 2023 (Wed)

[grupo guitarlumber] 12/11/2022 11:32

Upcoming events on ENI SPA

NOV/21/22 Ex-dividend day for interim dividend

FEB/17/23 FY 2022 Earnings Release (Projected)

[grupo guitarlumber] 20/10/2022 05:24

Eni considers the possibility of building a third bio-refinery in Livorno

Oil & GasDownstreamRefinery

By NS Energy Staff Writer 18 Oct 2022

The construction of the new bio-refinery – located in an industrial area which houses fuel and lubricant production facilities – would maximise synergies from the infrastructure already available and secure the site's future as an employment and production hub
Livorno-Bioraffineria-CS-2.jpg.rend.1140.0

Eni considers the possibility of building a third bio-refinery in Livorno. (Credit: ENI)

Eni met with the president of Tuscany, Eugenio Giani, and the mayors of Livorno, Luca Salvetti, and Collesalvetti, Adelio Antolini, to confirm that the company is investigating the opportunity to build a new bio-refinery at Eni’s industrial site in Livorno.

The feasibility study involves building three new plants for the production of hydrogenated biofuel: a biogenic feedstock pre-treatment unit, a 500,000 tonne/year Ecofining plant and a plant for the production of hydrogen from methane gas.

The construction of the new bio-refinery – located in an industrial area which houses fuel and lubricant production facilities – would maximise synergies from the infrastructure already available and secure the site’s future as an employment and production hub.

Giuseppe Ricci, Chief Operating Officer of Eni’s Energy Evolution said: “We are working to reach an important milestone in Eni’s decarbonization strategy and the path we undertook many years ago, with the transformation of the first refinery in Venice into a bio-refinery back in 2014. The coexistence of bio and traditional plants has been successfully tested with the recent production of Eni Biojet in Livorno, the first SAF (Sustainable Aviation Fuel) exclusively from waste raw materials, animal fats and used vegetable oils thanks to the synergy with Eni’s bio-refinery in Gela. Our goal is to increase the availability of decarbonized and sustainable products to our customers and to meet our scope 3 emission reduction targets.”

The president of Tuscany, Eugenio Giani, said: “I wish to express my deep appreciation for Eni’s decision to investigate the conversion of the Livorno refinery into a bio-refinery, focusing on a sustainable energy transition both in terms of the environment and the outlet market. The technological innovation and size of the investment, as well as the plant synergies between new and previous production activities, open up a real pathway for development that maintains the current workforce and the entire production chain. These are forward-looking choices, compatible with the area in which these projects are located, and which will also benefit from the infrastructural competitiveness generated by the modernisation of the port of Livorno with the Europa dock”.

Livorno mayor Luca Salvetti said: “During these three years in office, the identification of clear industrial and employment prospects for the Eni refinery in Stagno has seen our constant commitment alongside institutions, trade unions and the company, with the goal of giving the plant a future and certainty to its workers.

I am very pleased to see how the efforts of all parties have led to the establishment of a virtuous path that we hope will lead to the construction of a new bio-refinery, a project that combines industrial goals, environmental compatibility and stability of employment. We have been actively involved in this process, and in March of this year we sat at the table called for by the Ministry of Economic Development alongside the company’s top management, President Giani, and workers’ representatives. That commitment is now beginning to bear fruit and the way forward is outlined.

Work is, and will always remain, at the heart of the goals of this administration, which is ready to provide a stable and collaborative institutional partner to all those involved on this front in the future”.

Collesalvetti mayor Adelio Antolini said: “The construction of a bio-refinery inside the Eni plant in Stagno – a proposal that I and mayor Luca Salvetti first put forward in a press conference in January 2021 as a suitable solution for our territory both in terms of maintaining skilled jobs and preserving the environment – is now becoming a reality. This study is already an achievement and a commitment to future development with Eni’s investment at a high level of technical innovation. A good team effort by Eni and Tuscany with the municipalities of Livorno and Collesalvetti”.

Eni is the second-largest biofuel producer in Europe with 1.1 million tonnes/year and targets to increase the share to 2 million by 2025 and to 6 million in the next decade. Its bio-refineries in Venice and Gela transform waste raw materials, residues and waste resulting from the processing of vegetable products and oils from crops that do not compete with the food chain into high-quality biofuel – biodiesel, but also bio-LPG and bio-Naphtha, also for use in the chemical industry.

From 2023, Eni will no longer process palm oil and will make available pure hydrogenated biofuel containing a 100%-biogenic component, which can reduce GHG (GreenHouse Gas) Well to Wheel by up to 90%, i.e. along the entire logistics and production chain, up to its final use.

The design of the three new plants in Livorno will be completed by 2023 and construction could take place by 2025.

The transformation plan for the Livorno refinery will be discussed with local institutions and trade unions within the framework of a participatory and inclusive industrial relations model.

Source: Company Press Release

[grupo guitarlumber] 21/9/2022 15:58

Is Eni (E) Stock Undervalued Right Now?


Zacks Equity Research Zacks
Published
Sep 21, 2022 09:40AM EDT


Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Eni (E). E is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 3.44. This compares to its industry's average Forward P/E of 6.30. E's Forward P/E has been as high as 10.25 and as low as 3.36, with a median of 5.63, all within the past year.

Investors should also note that E holds a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. E's PEG compares to its industry's average PEG of 0.47. Over the last 12 months, E's PEG has been as high as 1.27 and as low as 0.33, with a median of 0.50.

Another valuation metric that we should highlight is E's P/B ratio of 0.74. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.42. E's P/B has been as high as 1.13 and as low as 0.70, with a median of 1, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. E has a P/S ratio of 0.33. This compares to its industry's average P/S of 0.46.

Finally, our model also underscores that E has a P/CF ratio of 1.86. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 4.94. Within the past 12 months, E's P/CF has been as high as 6.20 and as low as 1.76, with a median of 3.33.

Investors could also keep in mind YPF Sociedad Anonima (YPF), an Oil and Gas - Integrated - International stock with a Zacks Rank of # 1 (Strong Buy) and Value grade of A.

Furthermore, YPF Sociedad Anonima holds a P/B ratio of 0.28 and its industry's price-to-book ratio is 1.42. YPF's P/B has been as high as 0.29, as low as 0.11, with a median of 0.20 over the past 12 months.

These are just a handful of the figures considered in Eni and YPF Sociedad Anonima's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that E and YPF is an impressive value stock right now.

[waldron] 15/9/2022 02:51

Upcoming events on ENI SPA

September/19/2022 Ex-dividend day for interim dividend

[waldron] 15/9/2022 02:50

Stocks
Eni SpA (E) Outpaces Stock Market Gains: What You Should Know
Contributor
Zacks Equity Research Zacks
Published
Sep 14, 2022 06:00PM EDT

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Eni SpA (E) closed at $23.55 in the latest trading session, marking a +0.99% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.02%.

Heading into today, shares of the energy company had lost 1.19% over the past month, lagging the Oils-Energy sector's loss of 0.08% and outpacing the S&P 500's loss of 7.95% in that time.

Eni SpA will be looking to display strength as it nears its next earnings release. On that day, Eni SpA is projected to report earnings of $2.16 per share, which would represent year-over-year growth of 132.26%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.14 per share and revenue of $231.94 billion. These totals would mark changes of +164.29% and +154.5%, respectively, from last year.

Any recent changes to analyst estimates for Eni SpA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.65% lower within the past month. Eni SpA currently has a Zacks Rank of #3 (Hold).

Investors should also note Eni SpA's current valuation metrics, including its Forward P/E ratio of 2.87. Its industry sports an average Forward P/E of 4.21, so we one might conclude that Eni SpA is trading at a discount comparatively.

Investors should also note that E has a PEG ratio of 0.28 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.38 based on yesterday's closing prices.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% of all 250+ industries.

[waldron] 07/9/2022 15:26

Eni SpA said Wednesday that it has agreed to acquire BP PLC's business in Algeria in a deal set to further contribute to Europe's gas needs.

The Italian oil-and-gas major said the acquisition includes BP's working interests of 33.15% and 45.89% in two gas-producing concessions located in the Southern Sahara.

The assets, known as "In Salah" and "In Amenas," are jointly operated with Algeria's state producer Sonatrach and Norway's Equinor ASA. In 2021, they produced approximately 11 billion cubic meters of gas and 12 million barrels of condensates and liquefied petroleum gas, Eni said.

The transaction is subject to the approvals of competent authorities. Financial details weren't released.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

[waldron] 06/9/2022 16:37

Eni to invest €4.5 bln annually in upstream in Egypt, other several countries to 2025
By Fatma Ibrahim On Sep 6, 2022


Italian energy group Eni is planning to invest €4.5 billion ($4.47 billion) in upstream activities each year from now to 2025 focusing on several countries, including Egypt, said a senior official on Tuesday.

“We are fully committed to invest €4.5 billion per annum in the upstream to bring on line new gas supplies,” Cristian Signoretto, deputy chief operating officer for natural resources at Eni, said at the Gastech conference in Milan.

Signoretto mentioned the development of LNG projects in Qatar and Congo and also Egypt and Algeria, where Eni enjoys a longstanding presence.

“Indonesia is another area in which we are investing heavily,” he added.

In its 2022-2025 strategic plan, unveiled in February, Eni stated that it would invest €7 billion per year on average in its different businesses.

[gibbs1] 05/8/2022 18:49

Eni acquires the Tango FLNG to produce and export LNG from the Republic of Congo
05 August 2022 - 5:45 PM CEST


San Donato Milanese (Milan), 05 August 2022 - Eni informs that it has acquired the company Export LNG Ltd, which owns the Tango FLNG floating liquefaction facility, from Exmar group. The facility will be used by Eni in the Republic of Congo, as part of the activities of the natural gas development project in the Marine XII block, in line with Eni's strategy to leverage gas equity resources.

The Tango FLNG, built in 2017, has a treatment capacity of approximately 3 million standard cubic meters/day and an LNG production capacity of approximately 0.6 million tons per year (about 1 billion standard cubic meters/year). The acquisition of this facility allows the development of a fast-track model capable of seizing the opportunities of the LNG market. In addition, the high flexibility and mobility characteristics of the Tango FLNG will favour the development and enhancement of Eni's equity gas by accelerating production start-up time.

Tango FLNG will begin its activity in Congo in the second half of 2023, following the completion of mooring and connection works necessary to tie with the Marine XII network and infrastructure. LNG production from Marine XII is expected to begin in 2023, and when fully operational it will provide volumes in excess of 3 million tons/year (over 4.5 billion cubic meters/year).

[la forge] 05/8/2022 07:27

In a research note published by Michele della Vigna, Goldman Sachs advises its customers to buy the stock. The target price remains unchanged at EUR 18.