Italy

Italian gas grid supplier Snam is taking a look at green fuel opportunities, its chief executive informed on Thursday after the group raised its assistance for 2024 monetary results. The 15-billion euro group - which has Europe's largest gas transmission network and handles both storage possessions and melted gas terminals in Italy - is leading a European task to develop a pipeline for green hydrogen. It is also working with Eni on a pilot project to deal carbon capture, transport and storage services in Italy and, independently, supports the production of green gases. In February Snam began sounding out the...

Indonesia expects investments in its oil and gas sector to increase 29% in 2024, the chairman of regulator SKK Migas informed , as it races to ramp up drilling and expedition following the current exits of worldwide giants Shell and Chevron. An instant push in oil and gas investments is essential for the resource-rich southeast Asian country, which is looking to reverse a drawn-out output decrease in the middle of increasing funding obstacles for nonrenewable fuel source jobs. Of the planned financial investments this year, 40% will originate from foreign business including Eni, Exxon Mobil and BP, Dwi Soetjipto, chairman...

Mozambique's army is battling Islamist insurgents who introduced a significant attack on the northern town of Macomia on Friday early morning, President Filipe Nyusi said in a telecasted address. The town is in Cabo Delgado, a gas-rich northern province where Islamic State-linked militants released a revolt in 2017. In spite of a large security response, there has been a surge in attacks since January this year. 2 security sources informed that hundreds of fighters are believed to be associated with the current attack. Macomia is under attack considering that this morning. Fire exchange still continues, Nyusi said at around 1000...

Significant oil business such as Exxon Mobil and Shell that aim to exit Nigeria's onshore oil can get quicker approval to do so if they take responsibility for spills instead of wait for authorities to assign blame, the regulator stated on Friday. Exxon, Shell, TotalEnergies, and Eni have all sought to leave Nigeria's oil-rich Niger delta in current years citing security concerns, including theft and sabotage, to concentrate on deepwater drilling. Nevertheless, their exits have actually been postponed by regulatory difficulties. At a conference with the business in Abuja, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) primary Gbenga Komolafe offered a...

The European Union criticised Russia on Saturday for putting subsidiaries of one Italian and one German business under the short-lived external management of a Gazprom entity, saying the move underscored Moscow's neglect for international norms. Russian President Vladimir Putin positioned the Russian subsidiaries of Italian water heating company Ariston and German appliance maker BSH Hausgeraete under JSC Gazprom Household Systems, according to a decree released on Friday. These procedures, targeting genuine financial activities, are yet another proof of Russia's disregard for worldwide law and guidelines, a representative for the EU's diplomatic service stated in a statement. Italian Foreign Minister Antonio...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Friday: ** General Mills, the maker of Cocoa Puffs and Cheerios breakfast cereals, is checking out a sale of its North America yogurt organization including its popular Yoplait brand name in a. deal that might be worth more than $2 billion, people familiar. with the matter stated. ** Mexican broadcaster Televisa plans to. combine its satellite television system Sky with its cable TV and web. service Izzi as quickly as possible, the head of the brand-new system stated. ** Anglo American declined competing miner BHP Group's. 31.1...

Nigeria's stateowned oil firm NNPC Ltd on Thursday signed a contract permitting a local refiner to build and operate a 100,000 barrel daily (bpd). refinery within NNPC's Port Harcourt Refinery complex in the. south of the nation. The plan to site another refinery near to the state-owned. plant to maximise making use of existing facilities, known as. co-location, was initially revealed in 2016 when the Nigerian. National Petroleum Business Ltd (NNPC) marketed for tenders. In 2018, NNPC approved a quote from African Refineries Port. Harcourt (ARPH) Ltd to establish a new refinery within the Port. Harcourt complex. NNPC was to...

Ithaca Energy has actually accepted purchase nearly all Eni's UK oil and gas producing properties for about 754 million pounds ($ 938.3 million) in stock, as it aims to turn into one of the biggest independent energy companies in the North Sea. The combined entity would have the ability to produce more than 100,000 barrels of oil equivalent daily up until at least 2028, and aims to pay dividends of up to $500 million each in 2024 and 2025, Ithaca said on Tuesday. The North Sea is an energy-rich area in the Atlantic Ocean that has actually long been coveted...

A second drifting liquefied gas (FLNG) factory for Mozambique would have very little negative effect on its sensitive surroundings, a draft ecological impact assessment (EIA) research study by Consultec environmental consultants has actually found. Italy's Eni SPA has actually proposed finding the Coral Norte FLNG platform 10 km north of its twin Coral Sul which is presently operating in the Rovuma Basin. Eni expects to reach a last financial investment decision on its second Mozambique FLNG, which will have a production capacity of 3.5 million lots a year, in the next few months, sources told in October. The report determined...

Kazakhstan has raised its arbitration claims against the global oil majors that established the Kashagan oilfield to more than $150 billion, Bloomberg News reported on Wednesday, citing individuals familiar with the matter. Kazakhstan's energy minister stated last year it was pressing ahead with $16.5 billion in claims versus the consortium over disputed job costs and had no prepare for a possible out-of-court settlement. The report on Wednesday stated the figure had jumped after the Kazakhstan federal government added a claim for as much as $138 billion, showing the estimation of the value of oil production that was assured to the...

Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied gas ( LNG) terminal, with grid operator Snam owning the rest, the Milanlisted group stated on Wednesday, announcing a. deal to be finalised by yearend. Snam, which is controlled by the Italian government, stated in. a declaration it had actually exercised its pre-emption right to increase. its stake in the facilities dubbed Adriatic LNG to 30% from. 7.3%. The move comes after ExxonMobil and QatarEnergy last. week consented to sell their stakes in the terminal to a consortium. led by Dutch group VTTI. It verifies what 2...

Eni is assessing an expression of interest for its newswire Agenzia Giornalistica Italia (AGI), a representative for the energy group stated on Tuesday, including the conversation was preliminary and nonexclusive. The possible sale of Italy's 2nd biggest news agency to a. lawmaker from the rightwing, co-ruling League party, has been. commonly reported in Italian media in current weeks, triggering. opposition's alarm over a prospective conflict of interest. State-controlled Eni, which has actually owned AGI since 1965, is. all set to consider any other expressions of interest that may. come, the spokesperson included. Italian newspaper La Stampa reported last month that....

Italian energy business ERG is all set to embrace a selective and more flexible technique to take market chances, CEO Paolo Luigi Merli stated, as part of business's brand-new 20242026 service plan released on Wednesday. Having actually finished the improvement of the group into a. pure eco-friendly player, we have now evolved our strategy by. moving to worth over volume, Merli told experts in a get in touch with. Thursday. Advancement in the U.S. is a main element of the plan,. the company said. ERG, owned by Italy's Garrone household, was one of Italy's. leading oil companies before moving its...

Italian utility Enel stated on Thursday its firstquarter core earnings increased 12%. yearonyear driven by a strong healing in renewable resource. production at home. Normal earnings before interest, taxes, devaluation and. amortisation (EBITDA) was available in at 6.1 billion euros ($ 6.6. billion), beating a consensus of 5.73 billion euros among. analysts surveyed by LSEG. In Between January and March, Italy represented more than. half of the group's ordinary EBITDA thanks to an increase in the. country's core earnings to 3.2 billion euros from 1.9 billion. euros last year. On the contrary, Spanish subsidiary Endesa, which. last year had actually...

The following quotes, mergers, acquisitions and disposals were reported by 1940 GMT on Friday: ** Sony Pictures Entertainment and personal equity company Apollo Global Management on Wednesday submitted a $26 billion deal for Paramount International however have yet to get a reaction as of Friday, according to a. person knowledgeable about the matter. ** L Catterton, a personal equity company backed by French luxury group LVMH. , said on Friday it had actually succeeded in protecting sufficient shares in luxury. shoe maker Tod's to take it private in arrangement with the Italian. group's main shareholder, the Della Valle household. **...

A 790 millionpound ($ 992. million) mass suit against significant European power cable. suppliers over claims a cartel led to inflated electricity. charges for British consumers can continue to trial, a London. tribunal has ruled. The case seeking damages from Italy's Prysmian, France's. Nexans and Denmark's NKT for around 30 million consumers in. Britain was licensed by the Competitors Appeal Tribunal (FELINE). last month, according to a judgment released on Friday. Clare Spottiswoode, the previous head of Britain's gas. regulator, is spearheading the lawsuit, which follows on from. the European Commission's 2014 finding that Prysmian, Nexans,. NKT and others had...

Italy's Antitrust authority said on Monday it was checking out how the country's greatest energy Enel had interacted current material gas and power cost increases to its domestic consumers. The authority stated that from January it had actually received complaints from more than 600 consumers and small companies about increases in their energy expenses activated by Enel Energia, completely owned by Enel, for the October 2023-January 2024 duration. Clients suffered an absence of clear and composed interaction from Enel to inform them about the future rate boosts, something that allegedly denied them of the opportunity to pull out from their...

Greece's biggest electrical energy power utility pay per click swung to profit in 2015 and will resume dividend payments after a decade, it stated on Tuesday. PAY PER CLICK, which operates the nation's primary power grid, stated net profit stood at 485 million euros ($ 526.37 million) in 2023, compared to a loss of 9 million in 2022, helped by the acquisition of Italian electricity manufacturer Enel's properties in Romania in 2015 and distribution organization. The energy cut a load of past due bills, the tradition of a. decade-long financial obligation crisis in Greece, and has actually overhauled. operations. It...

Niagara Energy is introducing a. bid to buy up to the totality of shares in Enel Generacion Peru,. a South American power generation subsidiary of Italian energy. Enel, the Lima stock exchange said in a declaration on Thursday. Enel had in November announced an offer to offer the. unit for around $1.4 billion. The deal is priced at $0.47 per share, is valid for 20 days. and is conditional on some 87% of shares being offered, the. exchange said. The deal marks a discount from Enel Generacion Peru's. present share cost, which closed on Wednesday at 2.11 soles. ($ 0.57)...

Italy's most significant utility Enel said on Friday it had signed an arrangement to offer 49%. of its energy storage service to Generali's Sosteneo. for around 1.1 billion euros ($ 1.2 billion). The deal becomes part of Enel's more comprehensive effort to reduce its web. financial obligation and find partners voluntarily to collectively establish energy. transition ventures. The agreement will value the Italian group's energy storage. service - called Enel Libra Flexsys - around 2.5 billion euros,. consisting of financial obligation. Enel Libra Flexsys, presently 100% owned by Enel, has actually a. portfolio of 23 battery energy storage systems (BESS)...

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday: ** SilverBow Resources investor Riposte Capital backed Kimmeridge Energy Management's most current buyout offer that valued the U.S. oil and gas manufacturer at near $2.1. billion, including debt. ** U.S. fund Elliott has actually signed a non-binding contract. to combine its Italian bad loan company with Softbank-backed. doValue, the latter stated. ** Singapore's sovereign fund GIC has actually offered a 2.5% stake. in Italian payments business Nexi at 5.83 euros each,. the ANSA news firm reported. ** Germany's Commerzbank said that it has. obtained a minority...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Thursday: ** U.S. fund Elliott remains in unique speak to combine its Italian bad loan business with doValue, a competing loan supervisor whose main investors are Japan's Softbank Group and Bain Capital Credit, doValue said. ** Logistics realty professional Tritax Big Box would buy UK Commercial Home (UKCP) to create UK's. fourth largest REIT in a deal valuing its smaller rival at about. 924 million pounds ($ 1.18 billion), the firms stated. ** Directors at Nationwide Building Society and takeover. target Virgin Cash stated they would all....

Hopes of finding survivors of a mishap at a power plant in northern Italy are diminishing, firemens stated on Wednesday, as rescuers searched for four people missing in an area of the plant where water was rising quickly. A minimum of 3 individuals were eliminated on Tuesday after a fire and explosion happened underground at the hydroelectric power plant owned by Enel Green Power, part of Enel Group, in Bargi, about 80 km (50 miles) from Bologna. The rescuers' hope is always to discover individuals alive. The scenario we see does not make us think much in these hypotheses, but...

The following aspects could affect Italian markets on Friday. has not verified the paper reports, and can not. attest their precision. New items are marked with (*). For a complete list of journal occasions in Italy please click on . POLITICS Italy is preparing to welcome leaders from a number of African. countries in addition to Argentina, Brazil and India to so-called. outreach conferences at the Group of 7 (G7) summit that it will. host in mid-June, a source near to the matter said. The G7. leaders' top will occur in Borgo Egnazia, a resort in. the southeastern Puglia area...