eFinanceMarkets
7 years ago
$E Eni, CNPC sign E&P cooperation deal
Eni (E -0.5%) signs a cooperation agreement with China National Petroleum (PTR -0.9%) in oil and gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals.
The deal "could allow Eni to tap Chinese resources while allowing CNPC to use Eni skills to develop its assets round the world,โ according to a London-based oil analyst.
Eni is seeking to boost its liquefied natural gas business to meet growing demand and has its sights set on Asia to help market its growing gas portfolio.
eFinanceMarkets
7 years ago
Union threatens strike at Statoil, Shell, Eni North Sea platforms
Oil platform workers may go on strike, potentially disrupting production from several Norwegian fields, if they fail to get a pay deal by midnight on Friday, their union says.
The smallest of the three Norwegian unions representing oil industry workers says the strike would target platforms at Eni's (NYSE:E) Goliat, Royal Dutch Shell's (RDS.A, RDS.B) Draugen, and Statoil's (NYSE:STO)
Kvitebjoern, Oseberg East and Gudrun fields.
The five fields together produced 326K bbl/day of saleable oil equivalent in March, according to calculations by Reuters.
thetechtrader
8 years ago
Harry has posted Charts of the Day video on EXAS at TheTechTrader site noting: Exact Sciences Corporation (EXAS) is very interesting. I put a swing on it on Wednesday after it pulled back. Looking at the stock now after having gone from 5.30 to 12 1/2 pre-market. One hundred and fifty percent in about three weeks. We decided to wait for the pullback and we got the pullback. The fundamentals and technicals look good. It has 13 days to cover. I think the pullback was a buying opportunity, and the best thing it could do is be up on Thursday, but it may back and fill in here for a bit, consolidate the base breakout, then head up to 12 1/2, and then 15. On Wednesday it was down 6 cents to 9.33, on 39 million shares, which is very good volume.
Vincent Milner
10 years ago
Eni signs strategic agreements for Perla super-giant field in Venezuela
The Minister of Petroleum and Mines of Venezuela and President of PDVSA, Rafael Ramírez, Eni's CEO, Claudio Descalzi, and Repsol's President, Antonio Brufau, signed strategic agreements concerning the exploitation of the Perla field, one of the largest worldwide discoveries of the last decade.
DETAILS
mybullcharts
12 years ago
Epazz reported a 50 percent and 32.5 percent increase in revenues respectively for the nine month period ending 30 September, 2012 . Epazz, Inc. reported revenue of $856,248 versus revenue of $646,023 for the same period in 2011. Additionally, the Company's Asset value grew by 38% to $1,425,248 during the nine month period ending on September 30, 2012 .
TheFinalCD
13 years ago
Eni S.P.A. (NYSE:E) Today : Monday 10 October 2011
Libya is now producing 400,000 barrels of oil a day, a quarter of its prewar level, a figure that may rise above 600,000 barrels by year end, the country's oil chief said Monday, as the war-torn nation boosts output faster than expected.
Libya Reaches 400,000 B/D, May Be Over 600,000 B/D By Year End-Oil Head
In an interview, Nuri Berruien, chairman of the country's National Oil Company, said "we expect more than 600,000 barrels a day...hopefully" by year end.
Libya shut off most of its output after civil war erupted in February, lending upward pressure to oil prices. It only restarted significant production mid-September following the fall of Moammar Gadhafi the previous month.
Only two weeks ago, Mustafa Sanala, a deputy to Berruien, said the NOC could ramp up to 350,000 barrels a day by the end of October, though he added it could be more.
But Libya has boosted production faster than planned to 400,000 barrels a day, following a ramp up at fields from state-owned Arabian Gulf Oil Co. and a joint-venture with Italy's Eni SpA (E).
Some of the upcoming increase will come from the resumption of the giant Sharara field, which largest foreign partner is Spain's Repsol SA (REP).
Berruien confirmed he expects the resumption of production at the field by the end of October, starting at a level of close to 100,000 barrels a day. Production at field was over 300,000 barrels a day before the war.
-By Benoit Faucon, Dow Jones Newswires; +44 207 842 92 66; Benoit.Faucon@dowjones.com
OilStockReport
13 years ago
Time to stay clear of E?
Eni (NYSE: E ) -- avoid it
Iโm not purposely trying to pick on Europe, but a basket of macroeconomic and political problems could derail Eni for longer than just the next few quarters.
As the largest oil producer in Italy, Eni has been struggling with political problems in Libya for most of the year. Prior to the power struggle between Muammar Gaddafi and rebel forces, Eni was averaging 280,000 barrels of oil production per day. In addition, 12% of all natural gas used in Italy comes from Libya. Even with the political crisis shifting in favor of rebel forces and the end in sight, it will take upward of 18 months before Eniโs operations are fully back online.
Even more concerning are the macroeconomic worries swirling around Europe regarding the sovereign debt crisis. In what could be a self-fulfilling prophecy, wide-stretching austerity packages enacted by several European countries (including Italy) could push the region into a deep recession. While oil will always remain in demand, companies already weakened by external factors, like Eni, could be in line for a significant drop-off in earnings and revenue. My advice would be not to let Eniโs 5.6% dividend cloud your better judgment and instead to heed the companyโs warning that production is going to fall short of previous estimates.