E plans to invest $8.5B in Egypt, drilling nearly 30 exploration and around 200 development wells while advancing Denise West and Cronos gas projects.
Italian energy group Eni said it aims to help bring a commercial fusion power plant to Europe by the early 2040s or sooner, adding that nuclear fusion could become its “next refinery”, the Financial Times reported on Sunday.
E's production growth, stronger cash flow and higher buybacks have fueled a sharp rally, but commodity exposure remains a key risk.
Investors need to pay close attention to E stock based on the movements in the options market lately.
E's Q2 earnings miss estimates, but revenues jump 21.5% as stronger pricing, production growth and segment gains lift results.
ENI NYSE: E reported sharply higher second-quarter and first-half results, citing upstream production growth, favorable market conditions and stronger contributions from its gas, low-carbon and refining-related businesses.
The Italian oil major raised its full-year share buyback as second-quarter production growth coincided with higher oil and gas prices triggered by the Middle East conflict.
The companies said Tuesday that they have taken the final investment decision on the deep-water offshore project in the Cronos field.
E awards SAPMF a $260 million Cote d'Ivoire long-term drilling contract, with the Santorini drillship set to begin the campaign in 2027.
The deal—for an undisclosed sum—was made through its Enilive subsidiary that is co-owned with U.S private equity company KKR, which has a 30% stake.
E expands its renewable fuels business through a BMW partnership, boosting HVO adoption and strengthening its sustainable mobility strategy.
Italian energy group Eni and battery storage firm Seri Industrial announced on Monday the launch of FAENIX, a new company which will specialise in the commercial and technological development of Europe's lithium iron phosphate (LFP) stationary battery supply chain.