Claudio Descalzi’s nomination as chief executive officer of Eni SpA puts a life-long oil man in charge of Italy’s largest crude producer, demonstrating Prime Minister Matteo Renzi’s preference for technocrats over political appointees to run the country’s biggest companies.
Clifford Chance LLP advised Royal Dutch Shell Plc, the world’s largest supplier of liquefied natural gas, on its agreement to buy LNG assets from Repsol SA for $4.4 billion in cash to expand in Latin America and Spain. Linklaters LLP, with a team led by Madrid corporate partners Alejandro Ortiz and Lara Hemzaoui and London projects partner Matthew Hagopian, advised energy company Repsol.
Hugo Chavez leaves his successor the task of reviving Venezuela’s oil fields after the late president’s policies of limiting investment and expelling U.S. drillers reduced production by 13 percent over the past decade.
Royal Dutch Shell Plc will be able to support oil output from the 2020s after winning an auction with its partners for the Libra field, Brazil’s biggest crude discovery, according to Sanford C. Bernstein & Co.