Italy's Lombardy will award two hydroelectric plant contracts by 2025
The local administration announced on Wednesday that the northern Italian region of Lombardy would award concessions to two small hydroelectric plants within its territory before the end of the next year. According to the region, the auction has attracted mostly Italian bidders. This could allow newcomers access to the capital-intensive industry. Five Italian bidders including ACEA Produzione…
Azerbaijani President confident about Ukraine gas route talks
Azerbaijani president Ilham Aliyev expressed Friday confidence in the outcome talks between Russia Ukraine, which his country facilitates to keep Russian Gas flowing through Ukraine into several European nations. Aliyev spoke at the TEHA forum in Cernobbio (Italy), which gathers policymakers and businessmen every September on the shores Lake Como for a discussion of the geopolitical outlook.
Engie Buys Renvico's Wind Farm Portfolio in Italy
Engie's Italian unit said on Thursday it signed a deal to buy Renvico's wind farm portfolio in Italy from Macquarie-run infrastructure fund MIRA.The portfolio includes eight wind farms in the central and southern regions of Italy, with a total capacity of 142 megawatts."This important operation confirms that Engie Italia is continuing to invest in non-carbon energy generation," Engie Italia's CEO Olivier Jacquier said in a statement.(Reporting by Giancarlo
Saipem Inks Deal with Daewoo for Onshore Projects
Italy's Saipem said on Monday it signed a strategic agreement with Daewoo E&C Co.
Oil Major Eni Pulls Out of Race for RTR Solar Assets in Italy
Italian oil major Eni has pulled out of a race to buy Terra Firma's solar power assets in Italy, a company spokesman told Reuters on Tuesday.The British private equity firm is looking to sell its Rete Rinnovabile, known as RTR, solar portfolio in Italy in a deal expected to fetch more than 1 billion euros ($1.17 billion).If successful, the transaction will be Italy's…
Saras Worried About Iran Crude Amid New Sanctions
Italian refiner Saras is worried about the market not having access to Iranian crude oil in light of new possible U.S. sanctions against Tehran."I am worried about the overall scenario," Saras CEO Dario Scaffardi said on a conference call.He said Iran was one of Saras's main crude suppliers, though not the only one, adding for the time being nothing had changed."It is too soon to assess the implications of any new U.S.
Rosneft, Eni Fail to Discover Oil at Black Sea Well
Russia's state oil company Rosneft and Italy's Eni did not make a commercial oil discovery in the Black Sea as the well they were drilling proved to be dry, a source close to the operations told Reuters on Wednesday. Rosneft chief executive, Igor Sechin, has partnered with a number of foreign companies to develop Russia's offshore regions, though western sanctions have forced some of its partners such as ExxonMobil to suspend projects.
Eni Raises Dividend, Production Targets
Italian oil and gas group Eni raised its dividend on Friday and held out the promise of a share buyback as it ramped up production and cash flow targets. In its 2018-2021 plan, the major said it would pay a dividend this year of 0.83 euros per share compared to 0.80 euros on last year's results. It also said a share buyback remained an option to distribute excess cash versus a leverage target of 0.20-0.25.
Eni Mulls Drilling Ship Move off Cyprus - CEO
Italian oil major Eni will probably move a drilling ship that has been blocked by the Turkish navy off Cyprus but will not pull out of its project in the country, the group's CEO said on Thursday. "It should be going to Morocco," Chief Executive Claudio Descalzi said during a company event near Milan, when asked what the next location of the ship could be. Reporting by Giancarlo Navach
Saipem CEO: Nord Stream II on Track if 'conditions right'
The Nord Stream II pipeline project will go ahead if conditions are right but sanctions may impact on work, the chief executive of Italian oil services group Saipem said on Tuesday. Nord Stream II, led by Russian gas giant Gazprom, aims to increase Russian natural gas exports to Europe by doubling the amount of gas Russia sends to Germany under the Baltic Sea. Saipem in August was awarded a contract to build the last section of the pipeline.
Terna Eying Possible High-end Service Acquisitions in US
Italian power grid company Terna is considering high-end service acquisitions in the United States, its CEO told Reuters on Friday. The state-controlled group is looking at taking equity stakes in foreign companies or buying into sectors offering high-end energy solutions, Luigi Ferraris said on the sidelines of a meeting. "There's Latin America where we are already…
Prysmian CEO Says Not Interested in Nexans
France cable maker Nexans is not the right target for industry leader Prysmian which is scouting for possible acquisitions, the chief executive of the Italian group said on Tuesday. "There would be several overlaps with Nexans," CEO Valerio Battista said on the sideline of a conference, adding getting antitrust approval for the deal would require Prysmian to sell assets. "It's no use to look at (a target) if you then have to sell assets," he said.
Italy Court Revokes Order Halting Work on TAP Pipeline
An Italian court has revoked an order that had halted work to remove olive trees from the pathway of a strategic pipeline that will bring central Asian gas into Europe, a lawyer involved in the case said on Thursday. The decision paves the way for work to restart on the Trans Adriatic Pipeline (TAP) which is slated to bring 10 billion cubic metres of gas from Azerbaijan into the small Italian seaside town of San Foca in Apulia by 2020.
Eni Sticks to Disposal Plan After Versalis Sale Falters
Italy's Eni does not intend to change a target of offloading 7 billion euros ($8 billion) in assets by 2019 after talks to sell a majority stake in chemical unit Versalis fell through, a top executive at the oil major said on Wednesday. On Tuesday the state-controlled major said negotiations with U.S. investment firm SK Capital over Versalis had been called off because of the failure to resolve certain issues.
Eni: No Interest in Nord Stream Pipeline Stake
Italian oil and gas group Eni has never considered buying an equity stake in the Nord Stream gas pipeline, Eni CEO said on Monday, shooting down newspaper reports. "It is not on the agenda and has never been considered," Claudio Descalzi said on the sidelines of a conference. Descalzi also said the group was not considering selling a further stake in oil service group Saipem at the moment. Reporting by Giancarlo Navach
Saipem Board to Meet on Cash Call Pricing
The board of Italian oil service company Saipem is set to meet on Thursday to discuss the pricing of a planned capital increase of up to 3.5 billion euros ($3.8 billion), a source close to the matter said on Wednesday. The cash call is expected to get under way on Monday, two sources said. The company was not immediately available for a comment. Saipem said in October…
Eni Sees Over 3% Yearly Output Rise to 2019
Italy's Eni said on Friday it expected its oil and gas production to grow by more than 3 percent per year in the period to 2019 as it cuts investments by 21 percent. In a statement on its new 2016-2019 plan, the state-controlled major said it would keep its dividend steady this year at 0.8 euros per share. The group said it was targeting cost savings of 6 billion euros ($7 billion) over the period and new asset sales of 7 billion euros.
Petronas Lubricants CEO Not Ruling Out IPO in Growth Drive
Petronas Lubricants International, the wholly owned subsidiary of Malaysia's oil giant Petronas, does not rule out a stock market listing further down the line as it targets growth in mature as well as emerging markets, its CEO said. "We don't see (a listing) short term but we do not exclude it in the future," Giuseppe D'Arrigo told Reuters in an interview. (Reporting by Giancarlo Navach and Stephen Jewkes)
Snam Working on Refinancing as Part of Italgas Spinoff
Italy's Snam, one of Europe's biggest gas pipeline operators, is looking to lift about 4 billion euros ($4.5 billion) off its balance sheet as part of plans to spin off its domestic gas business, sources familiar with the matter said. In a refinancing to be carried out by a dozen or so banks, the debt would end up with Snam's Italgas unit, which will be spun off by distributing Italgas shares to Snam investors and listing them…
Saipem Biggest Private Investor Votes for $3.7 bln Cash Call
Saipem's biggest private shareholder Dodge & Cox voted on Wednesday in favour of a 3.5 billion euro ($3.7 billion) capital increase designed to strengthen the Italian oil contractor's balance sheet. The U.S. investment company currently owns more than 12 percent of Saipem. "It's an important signal... It means they share our proposal," Saipem chairman Paolo Andrea Colombo said at a shareholder meeting.
