Italy | Egypt Oil & Gas - Part 11

Saipem Cuts Jobs Amid Q2 Losses

Saipem SpA, Italy’s biggest oil and gas contractor, will cut jobs and exit businesses as writedowns led to an unexpected loss and an earnings target reduction. The company, controlled by Italian oil producer Eni SpA, ...

Italy’s Edison to Build 180MW Power Plant in Egypt

Egyptian investment company Qalaa Holdings and Italian gas company Edison signed a Joint Development Agreement on Thursday to build a 180 MW power plant in Egypt. Edison said in a press release that the project value ...

Eni to Weigh Sale of Nigeria Assets Amid Oil Price Drop

Eni SpA, Italy’s largest oil company, is considering selling part or all of its onshore Nigerian operations as it seeks to divest peripheral businesses amid a drop in oil prices, people familiar with the matter said. ...

Russia’s Gazprom Calls Off Deal on Turkish Pipeline with Italy’s Saipem

Russia’s plans to drop Ukraine eventually as a route for piping its natural gas to Europe have hit a snag after Russian gas exporter Gazprom called off a deal with Italy‘s Saipem to build a subsea link to ...

Italian Eni Starts Production at Venezuelan Gas Field

Italian energy company Eni said Monday it started production at the Perla gas field, the largest field of its kind found off the coast of Venezuela. “Perla was for Eni one of the most significant start-up projec...

Eni Takes Larger Share in Kazakhastan Oil Reserve

Italian energy company Eni said it took on a larger stake in the Isatay oil reserve area in the Caspian Sea from its partners in Kazakhastan. Eni took on 50 percent of the subsoil use rights in the field from operatin...

Italian Delegation Looking into Further Oil, Gas, Electricity, Renewables Cooperation

A high-ranking Italian economic delegation comprising of five officials headed by Deputy Minister of Economic Development Carlo Kalinda arrived in Cairo today  to discuss how to support and enhance economic cooperatio...

Turkey to Re-Link Italy and Russia Gas Plans

OAO Gazprom revived a deal with Saipem SpA to build a gas link through the Black Sea, which was suspended after Russian President Vladimir Putin scrapped the South Stream pipeline to Europe last year. Italy’s biggest ...

Libyan Chaos Threatens More Oilfields and Exports to Italy

Libyan protesters have shut down an eastern gas field and threaten to close the western Wafa oil and gas field, which would stop gas exports to Italy, a spokesman for state oil firm NOC said on Wednesday. The closure ...

Italy’s Eni Posts Better Than Expected Profits for First Quarter

Eni SpA first-quarter profit beat analyst estimates as improved performance at its refining and gas businesses and a lower tax rate helped Italy’s largest oil company offset lower crude prices. Adjusted net income for...

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