Italy

Eni might pocket more than 8 billion euros ($ 8.7 billion) in net profits from disposals by 2027, CEO Claudio Descalzi stated on Friday after the Italian energy group reported secondquarter outcomes ahead of agreement. We have been performing our disposal plan much faster than anticipated, Descalzi stated, speaking with analysts on a. post-result teleconference. In its updated company strategy to 2027, the group stated it. intended to gather around 4 billion euros from the sale of oil and. gas assets and a similar quantity from minority stake sales and. initial public offerings of its low-carbon systems. The potential customers...

Angola's new Cabinda crude oil refinery is on track to launch later this year before ramping up to full first phase production of 30,000 barrels a day by July next year, the plant's President Marcelo Hofke said on Thursday. With nearly two-thirds of the building completed, Cabinda is the most innovative of 3 new planned refineries, together with an Eni-supported plant in Luanda being upgraded, that Sub-Saharan Africa's second-biggest oil manufacturer is leaning on to cut imported refined products for domestic use. The concept is to begin commissioning by the end of this year ... and we want to reach...

The following are the leading stories in the Financial Times. has actually not confirmed these stories and does not guarantee their precision. Headings - KKR in talks to purchase a stake of as much as 25% in Eni's biofuel business - Informa nears offer to purchase Cannes Lions owner Ascential for more than 1.1 bln pounds - FCA takes push for $700mn BlueCrest Capital redress strategy to Court of Appeal - BBC prepares 500 task cuts in push for more expense savings - Meta warns EU regulative efforts run the risk of bloc losing out on AI advances Introduction -...

Italy plans to start the sale of the Acciaierie d'Italia (ADI) steelworks this month, its market minister stated on Tuesday, following initial expressions of interest received from some worldwide players. The ADI organization was formerly referred to as Ilva. Its primary plant in the southern city of Taranto is among the largest in Europe and is a significant employer in Italy's under-developed south. Sale procedures are likely to start at the end of this month, Industry Minister Adolfo Urso informed reporters on the sidelines of an event in Rome. Indian groups Vulcan Green Steel and Steel Mont, Ukraine's. Metinvest and...

Plenitude, the retail and eco-friendly organization of Italian energy company Eni, is all set to list on the Milan bourse as soon as market conditions allow it, its Chief Executive Stefano Goberti said on Wednesday. Eni needed to freeze Plenitude's initial public offering ( IPO) in 2022 due to the energy crisis set off by Russia's. intrusion of Ukraine. After that, Eni participated in talks with investors and signed a. offer last December with Energy Infrastructure Partners (EIP). under which the Swiss fund got 7.6% of the company through a. reserved capital increase. The offer does not imply that Plenitude....

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday: ** U.S. oil and gas manufacturer Matador Resources said it would add oil and natural gas producing assets and undeveloped acreage in the Delaware basin in an about $1.91. billion money deal for an unit of Ameredev II Moms And Dad ** SPAR Group, South Africa's second-biggest. grocery group, has actually discovered a buyer for its loss-making Polish. company and anticipates cost savings and IT system enhancements. will improve profitability moving forward, it said on Wednesday ** Riot Platforms stated Bitfarms' transfer to embrace a. poison...

A U.S. regulator on Monday bought liquefied gas designer Endeavor Global LNG to offer clients with documents about the mechanical issues and start-up of a Louisiana plant. Endeavor Global LNG's Calcasieu Pass plant has been at the center of a long-running disagreement including energy companies consisting of BP, Shell and others over access to LNG from the plant. The Federal Energy Regulatory Commission stated in its order that it would appoint an administrative judge to arrange details of the circulation of the commissioning files. FERC desires Endeavor Global and customers to negotiate terms of the protective order. The Arlington, Virginia-based...

QatarEnergy signed a deal on Wednesday to provide Taiwan's stateowned oil company CPC with liquefied gas (LNG) for 27 years and giving it a stake in the Gulf state's gas growth project. The state-owned Qatari company said that it will supply CPC with 4 million tons per year (mtpa) of LNG from the North Field East, the eastern growth of the job. CPC will likewise take an equity stake because part of the job, QatarEnergy's declaration stated. The stake is the equivalent of 5% of one LNG train with capability of 8 million metric loads a year. This transfer will...

Three British energy companies have chosen to delay by a year the prepared start of oil production at their jointventure oilfield in the North Sea, pointing out the require for clarity on the financial policies of the next government. Jersey Oil and Gas, which owns 20% of the Buchan field, offered the upgrade on Wednesday on behalf of the joint endeavor partners, amongst them Serica Energy and 50%- stake-owning operator NEO Energy. Shares in Jersey were down 16% and Serica's shares dipped almost 1% after the news. Lots of North Sea oil and gas manufacturers have been combining, shifting overseas,...

Credit ranking firm S&P said on Tuesday it cut the outlook on Italy's Eni health club to ' unfavorable' from 'steady' while it verified the energy business's. ratings 'A' and 'A2'. A mix of elevated investments, lower cashflow. generation due to moderating natural gas rates, and stable. investor distributions will likely lead to Eni's funds from. operations (FFO) to financial obligation falling to around 45% in 2024-2025,. which is below our expectations for current market conditions,. the credit score company stated in a statement. The credit ranking agency said that it anticipated Eni's credit. situation to start improving from 2026,...

A Russian court has actually relieved constraints imposed on UniCredit in a suit over an aborted gas task, on Friday allowing the Italian lender to offer Russian sovereign bond holdings as security instead of other possessions and property. The St Petersburg arbitration court ruled in mid May that 462.7 million euros ($ 503 million) in securities, property and accounts coming from UniCredit, along with 100% of shares in UniCredit Leasing and UniCredit Garant, be seized. UniCredit Leasing and UniCredit Garant are subsidiaries of AO UniCredit Bank, the Italian group's Russian arm. UniCredit stated earlier in May that the seizure impacted...

Japan's Inpex for the first time last month provided petroleum from its share in the giant Kashagan oil field in Kazakhstan to a German refinery via Russia's Druzhba pipeline, three sources knowledgeable about the shipment and export data told on Thursday. It was a trial supply of oil from Kashagan in April, no products (are) prepared in May, among the sources knowledgeable about the plans said. The delivery - to the Schwedt refinery - demonstrates how Kazakhstan is developing oil exports by means of the Druzhba pipeline, which links Russian oil fields to Europe and which otherwise would be empty...

Sicily's orange farmers warned on Tuesday that searing heat and drought risked trashing this year's production and called for assistance from local and national authorities to save their company. After months of belowaverage rains, a water scarcity is impacting main areas of the Mediterranean island and injuring its orange growing, which accounts for 65% of Italy's output of the fruit. Sicily is experiencing one of the worst seasons possible from a weather perspective ... the threat of desertification has actually now ended up being concrete, two associations of regional orange growers said in a joint paper. Agricultural production across Italy...

A large fire broke out in Rome on Wednesday on a hill near the Italian capital's court of justice and a public television broadcasting centre, requiring the evacuation of a number of structures and offices, firefighters stated. The fire in the Monte Mario area was under control, with 10 crews on the case, the national fire department said on X, posting a video revealing helicopters and fire truck, and a few stressed out parked cars. As things stand, I believe we still have a great deal of work to do, to put out the fire, the head of Rome's firefighters,...

A blazing sun shining on the arid hills of San Cataldo in Sicily signals only misery for regional goat breeder Luca Cammarata as he attempts to find something for his herd to consume among the barren landscape. The grazing land is zero, Cammarata informed Reuters, looking sadly at his 'Girgentana' goats, a regional type that he and his fellow herders have looked for to safeguard and nurture however which is now threatened with extinction. A water shortage is hitting main areas of Sicily such as San Cataldo, in the province of Caltanissetta, really hard, and reservoirs are running dry or...

A goal to remove global appetite by 2030 looks progressively difficult to accomplish, with the number of people suffering chronic appetite hardly changed over the past year, a U.N. report said on Wednesday. The annual State of Food Security and Nutrition worldwide report said around 733 million individuals dealt with appetite in 2023-- one in 11 individuals globally and one in five in Africa-- as dispute, climate change and economic crises take their toll. David Laborde, director of the department within the U.N. Food and Agriculture Organization (FAO) which helps prepare the survey, stated that although progress had actually been...

Italy's highest court will choose whether the country is the best location to pick an unmatched court case versus energy group Eni brought by 2 environmental groups, the groups stated on Friday. Greenpeace Italy and ReCommon, in addition to a lots private people, are seeking the right to claim damages from Eni and also to require a rethink of its service technique that they state adds to worldwide warming. Eni provided a statement on Thursday stating the decision on the case, released last year and a very first of its kind in Italy, would be postponed following the request by...

Renewable energy producer Rezolv Energy and British tidy power financial investment firm Low Carbon have actually secured loan centers of up to 291 million euros ($ 314. million) to finance the construction of an onshore wind farm in. Romania. The consortium of lenders included Erste Group, UniCredit. Group, the European Bank for Reconstruction and Advancement, as. well as the International Finance Corporation, Intesa Sanpaolo. Group, OTP Bank, Raiffeisen Bank International AG and Garanti. BBVA Romania. The first stage of the so-called VIFOR project in north-east. Bucharest will set up 192 megawatts (MW) of capacity and should. come online before the...

Battery storage business Eku Energy aims to expand its international energy storage capacity to 9 gigawatthours by 2028 from about 1.3 GWh now, to assist speed up the energy shift and increase using renewables, the head of its Japanese unit said. Eku Energy, jointly owned by Macquarie Group's. green mutual fund and Canadian pension fund British Columbia. Investment Management, in April announced its very first task in. Japan to build a 30 megawatts/120 MWh battery energy storage. system in Miyazaki prefecture on the southern island of Kyushu. As resource-poor Japan broadens renewable resource to satisfy. decarbonisation objectives and enhance energy...

A more rightwardleaning European Parliament will make it more difficult to pass enthusiastic EU climate policies, however most of Europe's present worldleading green policies are likely to stay put, lawmakers, officials and analysts stated. Provisional lead to the European Parliament election on Sunday night revealed centrist celebrations holding a majority, however gains for rightwing and farright parties sceptical of the EU's. Green Offer package of ecological policies, and heavy losses. for Green celebrations. I don't believe that we'll be rolling back on (climate). policies. However I do believe that it will be more complex to get. brand-new policies off the...

Eni lowered net carbon emissions in the upstream sector by 40% and overall emissions by 30% last year compared with the levels of 2018, the Italian energy business said on Wednesday as it published its sustainability report. The group has actually recently given specific attention to minimizing the emissions of methane, which decreased by more than 20% by 2023 for the upstream company, it included. The company also has established strategic collaborations with global partners, such as Sonatrach in Algeria, EGAS in Egypt, and ADNOC in the United Arab Emirates, to support them in the energy shift course. WHY IT...

From his office in a. far-off annexe, French rightwing legislator JeanPaul Garraud has. his sights set on a spot much better to the decisionmaking. heart of the European Parliament. The chair of France's Rassemblement National (RN) legislators. anticipates nationalist and eurosceptic celebrations to surge in the June. 69 EU assembly election, providing a first taste of impact. in Brussels and Strasbourg, if other right and centreright. parties deal with them. Polls forecast extreme best celebrations will gain throughout the EU,. consisting of France, Germany and Italy where lots of seats are at. stake, as voters irritated by a cost of...

From his workplace in a. remote annexe, French rightwing lawmaker JeanPaul Garraud has. his sights set on a spot much closer to the decisionmaking. heart of the European Parliament. The chair of France's Rassemblement National (REGISTERED NURSE) lawmakers. anticipates nationalist and eurosceptic celebrations to surge in the June. 6-9 EU assembly election, providing a first taste of impact. in Brussels and Strasbourg, if other right and centre-right. parties work with them. Polls forecast extreme ideal celebrations will acquire throughout the EU,. consisting of France, Germany and Italy where lots of seats are at. stake, as voters annoyed by a cost...

Elon Musk's abrupt decision to lay off employees who ran Tesla's electric vehicle charging company blindsided car manufacturers preparing to gear up new EVs for customers to use the Tesla Supercharger network, industry officials and experts stated on Tuesday. In the meantime, General Motors, Ford and other automakers which struck deals last year to give clients access to the network said they are not changing their strategies. Tesla's decision to open its network to rival EV manufacturers was hailed by U.S. President Joe Biden, and opened the door for Tesla to get federal aids to broaden the reach of its...