Eni SpA, Italy’s biggest oil company, said first-quarter profit fell 42 percent on falling oil prices and halts to production in Nigeria, Libya and the United Kingdom.
In the wake of plummeting oil output, Norway, western Europe’s biggest petroleum producer, may have found its new money spigot: an ice-free expanse of the Arctic Ocean known as the Barents Sea.
Eni SpA stood by its Chief Executive Officer Paolo Scaroni as a probe into alleged bribery by Saipem SpA, where it’s the largest shareholder, widened to include him.
China National Petroleum Corp., the country’s largest oil producer, will spend $4.2 billion for a stake in Eni SpA’s African natural-gas assets as China looks to feed energy demand while reducing its reliance on coal.
Eni SpA Chief Executive Officer Paolo Scaroni is being investigated for alleged corruption in an Italian probe of contracts obtained by its oil services company, Saipem SpA, in Algeria.
Eni SpA , the biggest foreign oil producer in Libya, warned against allowing Libya to end up as a failed state.
Eni Spa has no plans to spin off oil services company Saipem SpA regardless of pressure from shareholder Eric Knight, Eni Chairman Giuseppe Recchi said.
The following is a selection of the most important news affecting the oil market.
Eni SpA, Italy’s largest oil producer, is ready to sell its 33 percent holding in Portugal’s Galp Energia SGPS, Chief Executive Officer Paolo Scaroni said.
"We confirm our growth and profitability targets for the full year 2013, in spite of a slower first quarter."
- Paolo Scaroni on Apr 24, 2013