05/17/2012 | Natural Gas - Lng - Lpg |
“Soon”. That was the response of economic development minister Corrado Passera to the query posed on the occasion of the annual meeting of Unindustria Roma concerning the timing of Snam's spinoff from Eni. He did not reply to the question if the sale will take place at market prices.
Reuters re ...
05/17/2012 | Natural Gas - Lng - Lpg |
In the renegotiation of long-term gas oil linked supply contracts with Libya, Algeria and Russia, Eni has managed to include the clause that the World Gas Intelligence agency defined as “joker”: the possibility of reviewing contractual conditions each year. Eni Ceo Paolo Scaroni told shareholders la ...
05/17/2012 | Natural Gas - Lng - Lpg |
Any delay in the separation of Eni and Snam risks undermining the faith in Italian markets won back by the government with difficulty in the last few months, Eric Knight, representative of the Knight Vinke fund, told Eni shareholders last week. He had earlier written that the spinoff “has by now ass ...
After its investment in Total, the sovereign fund Qatar Investment Authority (Qia) is negotiating the purchase of stakes in Eni and Shell, according to the Middle East Economic Survey (Mees). Eni had no comment. Qia is said to be well along in talks to buy 3-5% of Shell's stock and is looking to acq ...
05/17/2012 | Exploration & Production |
Sorgenia, the CIR subsidiary in which Austria's Verbund holds a stake, presented its 2012-2017 upstream plan last week. Sorgenia operates in the E&P sector through Sorgenia E&P SpA, set up in 2008, which in Europe holds 11 offshore licenses in the UK, and where the first field (Orlando) is to be lau ...
05/17/2012 | Electricity |
E.On does not see a justification for realization of a new 410 MW coal-fired group at the Fiume Santo power plant, according to an April 23 letter published by the SassariNotizie website. E.On has asked for a 36-month extension of the deadline so as to evaluate the investment, but meanwhile the powe ...
In the first quarter of 2012, revenues of the Saras group were 3.115bn euros, up 17% compared to the same quarter of 2011, primarily due to the higher revenues generated by the refining sector, thanks to significantly higher prices for all oil products. Group reported Ebitda in the quarter was 111.9 ...
Lower profit and increased revenue in the first quarter for Enel. Revenues registered up to March 31 of this year were 21.193bn euros, 8.5% more than the same quarter in 2011. A press release explains that the increase was mainly due to higher revenues from wholesale power sales. Net income was 1.18 ...
05/17/2012 | Exploration & Production |
Oil and gas production increased in Italy in the first quarter of 2012: the output of natural gas registered a 5.2% increase to 2.1125bn m3 and that of crude was up 5.3% to 1.418bn t. The data come from the Economic Development Ministry's mineral office Unmig.
Natural gas production was up bot ...
05/17/2012 | Exploration & Production |
To put Eni's Kazakhstan subsidiary, Agip Kco, under control of a commissioner or, as an alternative, to forbid it to negotiate contracts for the biggest oil field discovered in the last three years: this is, according to the Corriere della Sera, what the Milan judiciary wants because of the $20mn in ...
05/17/2012 | Exploration & Production |
Cyprus declared last week that it has received 15 offers from companies in Russia, Italy, France, Norway, Holland, Canada, Malaysia, Israel and the Usa, grouped in 10 consortiums, for offshore blocks. Australia's Woodside Petroleum, Israel's Delek and Italy's Enel and Edison created one to present a ...
The year 2012 began well for Erg after the negative 49mn at the end of 2011. Renewables gave income a boost, with a net operating result at the end of the first quarter of 26mn, up 550% compared to the first quarter of 2011. The cause was the beginning of operations of wind parks and the acquisition ...
05/10/2012 | Oil Market |
Saras is seriously considering a partnership with a company which works with crude. Chairman Gian Marco Moratti told shareholders, at their meeting to approve the financial statement for 2011, that “if we have the possibility of finding a company that has some crude and might join with us we will ta ...
05/10/2012 | Natural Gas - Lng - Lpg |
Economic development minister Corrado Passera has declared that “no hypothesis of a merger between Snam Rete Gas and Terna exists”, denying rumors that integration of the power grid manager and the gas network is under consideration by the government as an alternative to the sale to the Cassa Deposi ...
05/10/2012 | Renewables and Conservation |
Last Monday, at its Pisa research center, Enel presented its Triangle-based Omni-purpose Building, TOB, an innovative power generation system designed for isolated areas. It consists of a wooden gazebo covered in photovoltaic panels and equipped with a storage battery which the company affirms “coul ...