Eni (E) starts gas production at the Argo Cassiopea field in Sicily, a project expected to supply up to 1.5 billion cubic meters of gas annually, marking a key step in Italy's energy strategy.
Lower throughputs and declining gas sales contribute to Eni's (E) lower-than-expected Q2 earnings.
Eni S.p.A. has a solid E&P business with growth engines in Enilive and Plentitude, that have precedent values. Strong organic and inorganic action in E&P offset challenges in chemical and refining sectors, as well as gas. The residual businesses don't look highly valued enough, which gels with an ample ongoing buyback programme.
Eni could pocket more than 8 billion euros ($8.7 billion) in net proceeds from disposals by 2027, CEO Claudio Descalzi said on Friday after the Italian energy group reported second-quarter results ahead of consensus.
Eni S.p.A. (NYSE:E ) Q2 2024 Earnings Conference Call July 26, 2024 8:00 AM ET Company Participants Claudio Descalzi - CEO Stefano Ballista - CEO, Enilive Francesco Gattei - CFO Guido Brusco - Head of Natural Resources Cristian Signoretto - Head of GGP Adriano Alfani - CEO, Versalis Jon Rigby - Head of IR & Strategic Analysis Conference Call Participants Irene Himona - Bernstein Josh Stone - UBS Biraj Borkhataria - RBC Capital Markets Alejandro Vigil - Santander Alessandro Pozzi - Mediobanca Alastair Syme - Citi Lydia Rainforth - Barclays Peter Low - Redburn Atlantic Michele Della Vigna - Goldman Sachs Matt Smith - Bank of America Martijn Rats - Morgan Stanley Matt Lofting - JPMorgan Operator Good afternoon ladies and gentlemen and welcome to Eni's 2024 First Half Results Conference Call hosted by Mr. Claudio Descalzi, Chief Executive Officer.
The move aligns with Eni's (E) broader strategy of developing focused business units, thereby enhancing its financial autonomy.
Eni (E) and KazMunayGas have started constructing a 250 MW hybrid power plant in Kazakhstan, integrating solar, wind and gas power. This project marks a significant step toward a low-carbon future for the Mangystau Region.
Eni (E), through Eniquantic, aims to drive the energy transition by leveraging quantum computing for advancements in energy efficiency, material discovery and operational optimization.
The collaboration between Eni's (E) Versalis and Forever Plast aims to address application sectors, such as food packaging, wherein sustainability and quality are paramount.
Eni (E) announces a major oil and gas discovery in the Sureste Basin off Mexico, with an estimated 300-400 million barrels of oil equivalent. The finding might lead to a new production hub in the region.
Eni's (E) diversified business model, combining traditional oil and gas operations with renewable energy and biorefining, positions the company for sustainable growth.
The sale of Eni's (E) NAOC to Oando has been pending for months due to regulatory requirements under Nigeria's new oil industry law.