Wave Energy Developer Plots Strong Growth Plan in '22, IPO in '23
South Korean wave energy developer INGINE revealed ambitious growth plans for 2022,its10th anniversary.Today the company is approaching a landmark fifth year of wave energy operation in North East Asia, via the Jeju Bukchon Wave Power Plant built in 2015.
Saipem, CDP Sign Energy Transition Agreement
Italian energy contractor Saipem has agreed with state lender Cassa Depositi e Prestiti (CDP) to study the development of energy transition projects in Italy and abroad.In a joint statement on Wednesday, the two groups said the agreement was focused on carbon-cutting initiatives, the circular econom
Eni-led Group to Build Wave Power Stations
Italian oil group Eni is joining forces with shipbuilder Fincantieri, power grid group Terna and state lender Cassa Depositi e Prestiti (CDP) to develop wave power stations.The agreement, which follows the understanding signed last 19 April…
Eni, CDP, Fincantieri, Terna in Wave Power Pact
Italian oil group Eni is joining forces with compatriot shipbuilder Fincantieri, power grid group Terna and state lender Cassa Depositi e Prestiti (CDP) to develop wave power stations.The Chief Executive Officers of the companies have signed…
Saipem Push with US Drillers Draws a Blank
Italian oil services company Saipem is trying to lure big U.S.
Saipem CEO Could Be Reappointed in May
The main shareholders of Italy's Saipem indicated on Thursday they would support the reappointment of Stefano Cao as chief executive of the oil service company. State lender Cassa Depositi e Prestiti (CDP) and oil major Eni, who jointly control Saipem…
Russneft: No Plans to Merge with Neftisa
Russian oil producer Russneft said on Thursday that it had no plans to merge with Neftisa, but said the idea had been discussed many times. Russneft was responding after sources told Reuters that Russia's top state lender Sberbank opposed a…
Petrobras Secures $606 mln Credit Line from Banco do Brasil
Brazilian state-controlled oil company Petróleo Brasileiro SA said on Monday it has hired a 2 billion real ($606 million) credit line from state lender Banco do Brasil SA expiring in Feb. 2023. In a securities filing, Petrobras, as the company is known…
Saipem Sees Tough Year Ahead
Italian oil services company Saipem expects its revenues to fall this year as energy majors keep a tight grip on purse strings and pressure oil contractors' order books. Saipem, controlled by oil major Eni and state lender CDP, said it expected…
Saipem Confirms Profit Guidance
Italian oil services group Saipem swung back to profit in the third quarter despite an industry slowdown, flagging more orders on the way and confirming profit guidance. Its shares were up almost 10 percent at 1133 GMT while the oil and gas sector across Europe was up 0.5 percent.
Snam in Talks to Buy LNG Terminal Stake from Edison
Italian gas group Snam is in exclusive talks with EDF's Italian unit Edison to buy a stake in a liquefied natural gas terminal in northern Italy as part of plans to develop its LNG business, two sources said. Snam, controlled by state lender Cassa Depositi e Prestiti…
F2i buys Seven Wind Farms in Green Drive
F2i, the largest infrastructure fund operating in Italy, said on Tuesday it will strengthen its position in green energy by buying seven wind farms in the south of the country. The fund, which is around 14 percent owned by state lender Cassa Depositi e Prestiti…
Italy Watchdog Auditing Saipem for Impairment Charges
Italy's market regulator started an audit of Saipem in November to gather information on write downs the oil service company booked last year, Saipem said in its annual report. The Italian oil contractor announced impairments on a string of…
Italy Has No Intention of Selling Stake in ENI
The Italian government has no plans to sell a stake in oil and gas group Eni, an Italian Treasury source said on Monday, denying a report in Italian media. Rome daily Il Messaggero wrote that the Treasury was considering selling the 4.3 percent stake that it holds directly.
Snam Lifts Spending to Boost Profit
Italian gas company Snam expects to grow net profit by 4 percent each year over the next five years, boosted by cost savings and increased investment in its latest plan. Europe's biggest gas pipeline operator said it would spend five billion euros ($5.30 billion) in the period to 2021…
Oil and Trump: Russians Full of Optimism in Davos
What a difference a year makes. Twelve months ago, the mood of the Russian delegation at the World Economic Forum in Davos was distinctly gloomy, with oil prices near 12-year lows below $30 per barrel and Western sanctions depressing their economy and financial markets.
Saipem Cuts Guidance on Delayed Projects, Charges
Italian oil contractor Saipem cut its sales and profit guidance for the year on Wednesday, citing delays by clients to oil projects and higher financial charges. Saipem, controlled by oil major Eni and state lender fund FSI, said it expected…
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…
Enel Bid Values Metroweb at 806 Mln Euros
Italy's biggest utility Enel made a formal offer on Thursday to buy fibre-optic company Metroweb, valuing it at 806 million euros ($903 million), three sources close to the matter said. A high-speed Internet network is central to Prime Minister Matteo Renzi's reformist agenda.
Saipem Sticks to Guidance as Q1 Beats Forecasts
Italian oil services group Saipem stuck to its guidance for the year on Wednesday as first-quarter operating profits beat forecasts thanks to growth in its construction business. Saipem, controlled by oil major Eni and state lender fund FSI…
