Italian energy group Eni has claimed to have found one of the world’s largest natural gas fields off the Egyptian coast. [BBC News] A spike in oil prices helped energy shares reverse an early decline on Monday. [ABC/AP] An energy storage study claims that prices for battery technologies will plunge up to 60% over the next… Keep reading →
Italian firm Eni won rights to develop the Offshore Cape Three Points (OCTP) block in Ghana that is expected to start up in 2017. “This project promises to deliver up to 170 million cubic feet of gas per day for the next 20 years and put Ghana on its way to a future where one… Keep reading →
Outgoing Eni CEO Paolo Scaroni sees the volatile standoff between Western powers and Russia over the Kremlin’s actions in Ukraine as a new low point for European energy security. Italian oil and gas company Eni serves as a conduit for gas sourced from Gazprom and delivered to European customers, a position that could be jeopardized… Keep reading →
Italian oil and gas giant Eni’s CEO Paolo Scaroni was reportedly sentenced to 3 years in prison by a court in the north-eastern town of Rovigo on pollution charges stemming from his stint at the helm of Italian utility Enel. Apparently the Porto Tolle power plant was not in compliance with environmental regulations during Scaroni’s… Keep reading →
Russian gas independent Novatek and Gazprom oil-producing arm Gazpromneft have agreed to a $2.94bln deal to buy Italian Eni‘s stake in SeverEnergia, which is expected to produce 36 billion cubic meters of gas and liquids by 2017, equivalent to two-thirds of Novatek’s production, according to Reuters. A joint venture of Eni and Italian Enel has a 49% stake in SeverEnergia, of which Eni controls 60%. Investment… Keep reading →
Chevron has signed a $10 bin, 50-year agreement with the government of Ukraine to explore for and develop oil and gas in the Olesska field in the western part of the country. Chevron is expected to spend $350MM for exploration over two to three years. Ukraine has a strong interest in developing its domestic resources as a means of reducing… Keep reading →
Well it’s not quite that dramatic, but Houston was passed over as host of the 2017 World Petroleum Congress in favor of Istanbul, Turkey. The Texas energy capital hosted the event in 1987 and nearly won the honors for the 2014 event, narrowly losing out to Moscow. [Houston Business Journal] Eni drilled a successful appraisal… Keep reading →
The shale gas revolution and the flood of cheap gas it unleashed have been great for US economic competitiveness, but its effects are far less favorable for Europe, said Paolo Scaroni, chief executive of Italy’s Eni, at the Council on Foreign Relations in New York yesterday. “Gas prices in Europe are three times as high as… Keep reading →
Two of the oil industry’s more colorful chief executives – Total’s Christophe de Margerie and Eni’s Paolo Scaroni – provided some choice remarks on a range of energy-related topics yesterday at a Council on Foreign Relations event, The Future of Energy. They were joined by Michael Levi, director of the Council’s program on energy security… Keep reading →
China has enacted new measures to improve air quality, including a mandate that heavy polluters, such as coal-fired power plants, reduce emissions by 30% per unit of economic output by the end of 2017, and publicly release environmental information. Certainly seems like a step in the right direction for a country whose capital city’s pollution… Keep reading →
