Eni Halts Drilling in Rosneft-led Offshore Project Over US Sanctions
Italian oil and gas group Eni has suspended drilling in the Black Sea in a Rosneft-led offshore project because of U.S. sanctions, the company's chairwoman said on Wednesday. "We asked authorisation to the U.S. and so we obtained the authorisation from the U.S. so we started to drill this well, but then now we have to stop because… sanctions are hitting this," Emma Marcegaglia said at the World Economic Forum in Davos.
Saipem Finalizing Bank Pool for Cash Call, Debt
Italy's Saipem is finalizing a banking consortium to put the troubled oil contractor on a solid financial footing and run a cash call of more than 3 billion euros ($3.4 billion) as it readies a turnaround plan, people close to the deal said. Two sources familiar with the matter said the consortium was still being cobbled together. At the moment there are seven core banks and a final decision is expected within two weeks, they said.
Eni in touch with Italy State Holding Over Saipem
Italian oil and gas group Eni is in touch with cash-rich state holding Cassa Depositi e Prestiti (CDP) as it looks for ways to take the debt of its Saipem unit off its balance sheet, Eni's chairwoman said on Friday. "Our aim is to de-consolidate Saipem's debt, we're studying several options," Emma Marcegaglia told reporters on the sidelines of the Ambrosetti business forum.
Eni Renews Effort to Shed Saipem Stake
Italian oil and gas group Eni is again looking to cut its stake in Saipem after putting on hold a plan to sell down its oil services unit due to a slide on oil prices, Eni Chairman Emma Marcegaglia said in a newspaper interview. "We are once again reviewing the plan," she was quoted as saying in financial daily Il Sole 24 Ore on Thursday. Eni could also consider selling its retail gas business.
Eni CEO Never Considered Resigning Over Nigeria Probe
Claudio Descalzi, the CEO of Italy's Eni, has never considered offering his resignation following his involvement in a Nigerian corruption probe being carried out by Milan prosecutors, the chairwoman of the oil major said on Wednesday. "The idea never existed," Emma Marcegaglia said in reply to a question if Descalzi had offered his resignation. Milan prosecutors have placed Eni…
Italy Proposes New Eni CEO in State Firm Shake-up
Italy on Monday tried to breathe fresh air into state-backed companies, making a clean sweep of top management at firms such as oil major Eni and defense group Finmeccanica in a test of Prime Minister Matteo Renzi's pledge to break with old-style cronyism. The Italian Treasury, which holds core stakes in some of Italy's largest listed companies, proposed insider and exploration head Claudio Descalzi as Chief Executive for Eni…
