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Eni S.p.A.

Eni S.p.A.

$E
NYSEEnergy

214 stories mentioning Eni S.p.A.Updated 2d ago

Eni's renewable arm Plenitude completed a 330-MW solar project in Spain as energy stocks rose late in the session.

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Asia Markets

European Equities Traded in US as ADRs Rise in Thursday Trading

European equities traded in the US as American depositary receipts rose late Thursday morning with the S&P Europe Select ADR Index gaining 1.3% to 1,893.21.From continental Europe, the gainers were led by biopharmaceutical companies argenx (ARGX) and DBV Technologies (DBVT), which rose 4.2% and 3.5%, respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and health tech company Royal Philips (PHG), which were up 3.2% and 2.7%, respectively.The decliners from continental Europe were led by internet advertising firm Criteo (CRTO) and medical device maker EDAP TMS (FOCL), which dropped 2.7% and 2.6%, respectively. They were followed by biotech firm Evaxion (EVAX) and oil and gas company Eni (E), which were down 2.4% and 1.7%, respectively.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and lender Lloyds Banking Group (LYG), which advanced 8.8% and 2.8%, respectively. They were followed by lender Barclays (BCS) and insurance company Prudential (PUK), which increased 2.6% and 2.5%, respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and software company Endava (DAVA), which fell 3.5% and 3%, respectively. They were followed by oil and gas company Shell (SHEL), which was off 0.4%.

$ARGX$BCS$CLLS$CRTO$DAVA$DBVT$E$EVAX$FOCL$LYG$PHG$PUK$SHEL$SLN$TRIB
Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading

European equities traded in the US as American depositary receipts were lower late Wednesday morning, falling 0.83% to 1,868.68 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by 3D printer company Materialise (MTLS) and medical device maker EDAP TMS (FOCL), which rose 5.5% and 4.8% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and consumer goods company Unilever (UL), which were up 1.7% and 1.3% respectively.The decliners from continental Europe were led by biopharmaceutical firm Cellectis (CLLS) and petroleum refiner Equinor (EQNR), which dropped 5.4% and 3.5% respectively. They were followed by oil and gas company Eni (E) and telecommunications company Ericsson (ERIC), which were down 3.1% and 1.8% respectively.The gainers from the UK were led by Silence Therapeutics (SLN) and Trinity Biotech (TRIB), which surged 15% and 9.3% respectively. They were followed by Biodexa Pharmaceuticals (BDRX) and medical device maker Smith & Nephew (SNN), which advanced 4.1% and 2.4% respectively.The decliners from the UK and Ireland were led by Akari Therapeutics (AKTX) and Autolus Therapeutics (AUTL), which fell 8.7% and 3.5% respectively. They were followed by oil and gas company BP (BP) and Mereo BioPharma Group (MREO), which lost 3.1% and 2.9% respectively.

$AKTX$AUTL$BDRX$BP$CLLS$E$EQNR$ERIC$FOCL$MREO$MTLS$SLN$SNN$SQNS$TRIB$UL
Commodities

European Power Utilities Boost Focus on Transmission Investment, Storage in H1: WoodMac

European utilities have increased focus on transmission and network expansion, Wood Mackenzie said on Tuesday in a review of H1 2026, with most of the 9% increase in capital investment among the largest firms, dedicated to this.The researcher expects this trend to persist for the full year, with the capital expenditure reflecting regulatory support for investment in networks in several places as well as growing opportunities in energy storage.WoodMac notes a retreat in low-carbon technology spending among oil and gas majors, with BP (BP) having made a highly-publicized strategic shift focused more squarely on fossil fuels.With the British company's offshore wind assets housed in the Jera Nex BP joint venture and Lightsource currently undergoing a strategic view, it is feasible that the company could exit renewables entirely by the end of the year, the report said.Equinor (EQNR) and Shell (SHEL) have also been observed cutting back their commitments to low-carbon energy, favoring investments in upstream oil, Wood Mackenzie said.Regarding TotalEnergies (TTE), Eni (E) and Repsol, the report notes that each has reduced their investment budget but maintained their strategic path overall.Another trend is the prominence of investments in flexible generation and energy storage, with the most notable move that of TotalEnergies's 50% acquisition of an EPH-owned portfolio in November for 5.1 billion euros ($5.8 billion), paid in stocks.Elsewhere Enel has increased its battery energy storage targets while RWE is planning more gas capacity in Germany and preparing for more gas-fired power generation growth in the US.Expectations have grown that thermal generation will retain a larger share for longer in the power mix, especially in the US, to maintain supply flexibility.Renewables remain at the core of investment plans for most power utilities, with resilience seen in onshore wind and solar despite regulatory uncertainty and grid bottlenecks that make the power harder to deliver.Other constraints include a saturated supply chain, higher interest rates and a trend of increased curtailment.RWE is notably expected to overtake Denmark's Orsted as the global leader in offshore wind, after it clinched large contracts in the UK's AR7 auction, giving it an estimated 12 gigawatt pipeline of projects versus its Danish rival's 10 GW.

$BP$E$EQNR$SHEL$TTE
Oil & Energy

Eni to Invest in Angola Offshore Blocks With Partners

Italy's Eni (E) has reached a positive investment decision through Azule Energy for the Greater PAJ offshore development in Angola, the company said on Monday.The project in blocks 31 and 31/21 is operated by Azule and is jointly owned by Eni and BP (BP), with stakes also held by Equinor (EQNR) and Angola state-owned Sonangol E&P, it said in a statement.The project is the first integrated cross-block development in Angola and represents a coordinated approach to developing hydrocarbon resources in two neighboring concessions.It reinforces Angola's approach of efficient resource management, optimized infrastructure and sustained oil production, Eni said.With the first oil due in less than three years, in H1 2029, the project will unite five offshore fields over the two blocks, Palas, Astraea, Juno, Urano and Dione.The project will consist of 17 wells connected to a floating production, storage and offloading vessel, or FPSO, that has a nameplate capacity of 95,000 barrels per day and gas export capacity of 70 million standard cubic feet of gas per day.This will be delivered to Angola LNG through a new gas export line tied to Block 31's existing network.Price: $49.06, Change: $-0.34, Percent Change: -0.70%

$BP$E$EQNR
Wire

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were rising late Monday afternoon, with the NYSE Energy Sector Index adding 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) advancing 1.3%.The Philadelphia Oil Service Sector Index was up 0.7%, and the Dow Jones US Utilities Index rose 0.5%.Oil prices fell after reports that Iran has agreed with the US to allow international nuclear inspectors back into the country. US Vice President JD Vance said Monday that Iran agreed to admit inspectors from the International Atomic Energy Agency in the country, according to media reports.Front-month West Texas Intermediate crude oil fell 2.1% to $74.27 a barrel, and the global benchmark Brent crude contract dropped 2.9% to $78.26 a barrel. Henry Hub natural gas futures advanced 0.5% to $3.25 per 1 million BTU.In corporate news, ConocoPhillips (COP) shares gained 1.8% after Roth Capital Partners upgraded the stock to buy from neutral and raised its price target to $130 from $124.Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by Microsoft (MSFT) as part of a 20-year power purchase deal. Chevron shares rose 0.7%.BP (BP) and Eni's (E) joint venture Azule Energy approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported, citing comments from company and government officials at a signing ceremony. BP and Eni shares added 1.7% and 1.1% respectively.Petrobras (PBR) shares rose 1.4%. The company said Friday its board approved a final investment decision for a biorefining project with an investment of about $1.2 billion at its Presidente Bernardes refinery in Sao Paulo state.

$BP$COP$CVX$E$PBR
Wire

Update: Market Chatter: BP-Eni JV Approves Offshore Oil Project Development in Angola

(Updates with Azule Energy's statement in the second paragraph.)BP (BP) and Eni's (E) joint venture, Azule Energy, approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported Monday, citing comments from company and government officials at a signing ceremony."Greater PAJ will contribute to sustaining production, creating value for the country and reinforcing Angola's position as a key energy supplier in the years ahead," Azule Chief Executive Joseph Murphy said in a statement.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $39.73, Change: $+0.63, Percent Change: +1.60%

$BP$E
Sectors

Sector Update: Energy Stocks Higher Monday Afternoon

Energy stocks were rising Monday afternoon, with the NYSE Energy Sector Index adding 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) advancing 0.9%.The Philadelphia Oil Service Sector Index slid 0.1%, and the Dow Jones US Utilities Index rose 1%.Oil prices fell after reports that Iran has agreed with the US to allow international nuclear inspectors back into the country. US Vice President JD Vance said Monday that Iran agreed to admit inspectors from the International Atomic Energy Agency in the country, according to media reports.Front-month West Texas Intermediate crude oil fell 3.1% to $73.48 a barrel, and the global benchmark Brent crude contract dropped 3.5% to $77.22 a barrel. Henry Hub natural gas futures advanced 0.8% to $3.30 per 1 million BTU.In corporate news, Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by Microsoft (MSFT) as part of a 20-year power purchase deal. Chevron shares rose 0.7%.BP (BP) and Eni's (E) joint venture Azule Energy approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported, citing comments from company and government officials at a signing ceremony. BP and Eni shares added 1.5% and 1.3% respectively.American Resources (AREC) shares climbed 4% after the company said Monday the rare earth and critical mineral refining campus being built in Marion, Indiana, of its affiliated minority holding, ReElement Technologies, is expected to start commercial operations of its initial germanium production line in Q3.

$AREC$BP$CVX$E
Wire

Market Chatter: BP-Eni JV Approves Offshore Oil Project Development in Angola

BP (BP) and Eni's (E) joint venture, Azule Energy, approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported Monday, citing comments from company and government officials at a signing ceremony.The companies didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $39.59, Change: $+0.48, Percent Change: +1.24%

$BP$E
Wire

BP-Eni JV Approves Offshore Oil Project Development in Angola, Reuters Reports

BP-Eni JV Approves Offshore Oil Project Development in Angola, Reuters Reports

$BP$E
Asia Markets

European Equities Traded in the US as American Depositary Receipts Surge in Monday Trading

European equities traded in the US as American depositary receipts started the week significantly higher late Monday morning, climbing 1.83% to 2,900.33 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking site trivago (TRVG) and semiconductor company Sequans Communications (SQNS), which rose 11% and 6.7% respectively. They were followed by internet browser company Opera (OPRA) and lender Banco Santander (SAN), which were up 3.3% and 2.7% respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which dropped 5.6% and 4.3% respectively. They were followed by medical device maker EDAP TMS (FOCL) and pharmaceutical company Sanofi (SNY), which were down 1.4% and 0.6%.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which advanced 3.7% and 3% respectively. They were followed by biopharmaceutical companies Mereo BioPharma Group (MREO) and Biodexa Pharmaceuticals (BDRX), which increased 2.7% and 2.3% respectively.The decliners from the UK and Ireland were led by oil and gas companies Shell (SHEL) and BP (BP), which fell 4% and 3.3% respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biotech firm Trinity Biotech (TRIB), which lost 2.9% and 1.3% respectively.

$AKTX$BDRX$BP$E$EQNR$FOCL$MREO$OPRA$SAN$SHEL$SLN$SNY$SQNS$TRIB$TRVG$VOD
Commodities

Eni's Plenitude Completes 330-MW Solar Project in Spain

Eni's (E) renewable energy arm, Plenitude, said on Tuesday it had started production at the 200-megawatt southern section of its Renopool solar project in Spain's Extremadura region, bringing the project's total installed capacity to 330 megawatts.The Renopool complex is projected to generate about 670 gigawatt-hours of electricity per year, enough to power hundreds of thousands of households.The project consists of a 130-MW northern plant, which began operations in June 2025, and the newly commissioned southern facility.Plenitude said that construction at the solar project began in February 2024 and was completed within the energy firm's planned two-year timeline.The solar complex incorporates about 565,000 bifacial photovoltaic modules, designed to capture sunlight from both sides to improve generation efficiency. Plenitude said the plant's layout was optimized to maximize land use while meeting environmental requirements.Plenitude currently operates about 1.8 gigawatts of renewable energy capacity in Spain, spanning solar and wind projects across Andalusia, Extremadura, Murcia, Castilla-La Mancha, Castilla y Leon, Galicia, La Rioja and Catalonia.The energy firm manages about 6 GW of renewable generation capacity globally, serves about 11 million customers and operates a network of about 23,000 public electric vehicle charging points.Price: $53.48, Change: $-0.84, Percent Change: -1.55%

$E
Wire

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index increasing 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was climbing 3.8%, and the Dow Jones US Utilities Index fell 1.7%.Front-month West Texas Intermediate crude oil rose 0.6% to $91.06 a barrel, and the global benchmark Brent crude contract advanced 1.2% to $94.17 a barrel. Henry Hub natural gas futures fell 3% to $3.13 per 1 million BTU.In corporate news, Oklo (OKLO) shares gained 1.4% after the company said it has acquired Armec, a manufacturing and engineering firm, to expand its capabilities in reactor and fuel manufacturing programs.Eni (E) and Petronas said they have launched a 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia. Eni shares rose 1%.Alliance Resource Partners (ARLP) shares added 0.4% after the company said Monday it has agreed to buy certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for about $206.2 million.

$ARLP$E$OKLO
Sectors

Sector Update: Energy Stocks Rise Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index up 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was climbing 3.4%, and the Dow Jones US Utilities Index was shedding 1.6%.Oil prices were higher in Monday trading, but off session highs, as Iran reportedly halted military operations against Israel after fresh clashes erupted between the two countries. Iran has suspended strikes against Israel, the former's Ministry of Foreign Affairs told CNBC on Monday. The two countries traded strikes on Sunday night, according to reports. Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to the CNBC report.Front-month West Texas Intermediate crude oil rose 0.9% to $91.34 a barrel, and the global benchmark Brent crude contract was advancing 1.5% to $94.51 a barrel. Henry Hub natural gas futures fell 2.9% to $3.14 per 1 million BTU.In corporate news, Oklo (OKLO) shares gained 2% after the company said it has acquired Armec, a manufacturing and engineering firm, to expand its capabilities in reactor and fuel manufacturing programs.Eni (E) and Petronas said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia. Eni shares rose 1%.Alliance Resource Partners (ARLP) shares were fractionally higher after the company said Monday it has agreed to buy certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for about $206.2 million.

$ARLP$E$OKLO
Sectors

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% higher.The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 2.8% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.7% to $94.68 per barrel, and natural gas futures were down 3.1% at $3.13 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.Devon Energy (DVN) stock was up more than 1% after the company said between 66% and 98% of notes across seven bond series were tendered early to its exchange offers.SLB (SLB) said its OneSubsea joint venture won a contract from BP (BP) to provide a subsea boosting system for the Thunder Horse development in the Gulf of America. SLB shares were 0.5% higher premarket.

$BP$DVN$E$SLB$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday as Chip Stocks Rebound

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Monday's premarket activity, as semiconductor shares rebound from Friday's selloff.US stock futures were also higher, with S&P 500 Index futures up 0.8%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1.4% before the start of regular trading.The New York Fed's inflation expectations report for May will be released at 11 am ET.In premarket action, bitcoin was up by 3.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% higher, Ether ETF (EETH) advanced 6.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 0.8% and the iShares US Industrials ETF (IYJ) was inactive.Graham (GHM) stock was down more than 7% before the opening bell after the company reported lower fiscal Q4 adjusted net income.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.8%, and the iShares US Technology ETF (IYW) was 1.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.8%, while the iShares Semiconductor ETF (SOXX) rose by 4.1%.Nvidia (NVDA) shares were up more than 2% in premarket activity after dropping by 6.2% on Friday. The company will expand artificial intelligence infrastructure in South Korea, beginning with a 55-megawatt deployment at Naver's GAK Sejong data center. The chipmaker also closed a multi-year deal with SK hynix to design future generations of artificial intelligence memory hardware.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced by 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 1%.Ingredion (INGR) shares were up 0.8% pre-bell after the company said it has launched an all-cash tender offer to acquire Tate & Lyle, valuing the specialty ingredients company at about 3.7 billion British pounds ($5 billion).HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.2%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Eli Lilly (LLY) stock was up more than 1% premarket after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were up 0.4% pre-bell after closing Friday with a 2.7% fall. The Financial Times reported the company is preparing to offload more than $2 billion in private fund stakes through a structured bond deal.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.Eni (E) stock was up nearly 1% before the opening bell, following a 1.1% decline in the prior trading session. Petronas and Eni said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.9% to $91.33 per barrel on the New York Mercantile Exchange. Natural gas was down 2.9% to $3.13 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced by 2%, while the United States Natural Gas Fund (UNG) was 2.4% lower.Gold futures for July retreated by 0.3% to $4,354.00 an ounce on the Comex. Silver futures declined by 0.7% to $68.60 an ounce. SPDR Gold Shares (GLD) was up by 0.2%, and the iShares Silver Trust (SLV) increased by 0.5%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BX$E$EEM$EETH$EXI$FAS$FAZ$GHM$GLD$IBB$IGM$IGV$INGR$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Energy

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% higher.The United States Oil Fund (USO) was up 2.1% and the United States Natural Gas Fund (UNG) was 2.7% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.72 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $94.74 per barrel, and natural gas futures were down 2.7% at $3.14 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.

$E
Commodities

Italy's Eni, Malaysia's Petronas Launch Indonesia JV Searah, Eyeing Synergies

Italy's Eni and Malaysia's state-owned Petronas have launched a 50-50 independent joint venture called Searah, which will combine key businesses in Indonesia and Malaysia, Eni said in a press release on its website on Monday.The venture will unite 19 gas-producing and in-development assets, 14 of which are in Indonesia and five of which are in Malaysia.Searah will start out with an initial production base of more than 300,000 barrels of oil equivalent per day, to surpass 500,000 boe/d of sustainable production within three years, the statement said.Eni said that all regulatory requirements had been fulfilled and permissions obtained. The venture starts with a $6 billion revolving credit facility and a pipeline of expected investments of more than $20 billion in the next five years.Those investments will foster the development of more than 3 billion barrels of oil equivalent from discovered resources as well as making possible additional exploration in areas with potentially a total of several billion barrels of oil equivalent.ENI said its environmental and sustainability objectives are aligned with the Petronas vision for Searah and said the companies would achieve significant synergies in logistics and technology through the venture.All Eni and Petronas staff in Indonesia have now transitioned to employment at Searah, the statement said.The launch of Searah comes after final investment decisions by Eni in March for natural gas assets including Gendalo, Gandang fields, Geng North and Gehem fields.The assets hold nearly 10 trillion cubic feet of gas and about 550 million barrels of associated condensate. Production is expected to start in 2028.Eni has been present in Indonesia since 2001 and has an upstream portfolio of assets across exploration, development and production with net production currently of about 90,000 boepd.

$E
Equities

Eni, Petronas Launch 50/50 Joint Venture in Indonesia, Malaysia

Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said Monday.Searah includes a portfolio of 14 gas-producing and development assets in Indonesia and five in Malaysia, starting from an initial base in excess of more than 300,000 barrels of oil equivalent per day, increasing to 500,000 within the next three years, the companies said.All Malaysian and Indonesian regulatory and governmental approvals have been obtained, the companies said.The joint venture has also secured a $6 billion revolving credit facility, the companies said.

$E
Sectors

Sector Update: Energy Stocks Decline Friday Afternoon

Energy stocks declined Friday afternoon with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%.The Philadelphia Oil Service Sector Index slumped 3.5%, and the Dow Jones US Utilities Index advanced 1.2%.In sector news, skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war.West Texas Intermediate crude oil fell 3.2% to $90.04 a barrel, and global benchmark Brent declined 2.2% to $92.96 a barrel. Henry Hub natural gas futures dropped 3.5% to $3.22 per 1 million BTU.In corporate news, Eni (E) signed a petroleum exploration, development and production license agreement with the government of Gambia for the offshore block A1. Eni shares dropped 0.9%.BP (BP) agreed to subscribe for 10 million British pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock fell 1.4%.Turbo Energy (TURB) regained compliance with Nasdaq's minimum stockholders' equity requirement after strengthening its balance sheet through $5 million in capital raises. Turbo shares fell 3.4%.

$BP$E$TURB
Oil & Energy

Eni Signs Exploration and Production Agreement for Gambia Block A1

Eni S.p.A (E) signed an exploration, development, and production agreement for the offshore Block A1 area in The Gambia, the company said Friday.The agreement, signed with The Gambia's Ministry of Energy and Petroleum, grants Eni rights to explore and develop the offshore block, according to the company.Block A1 covers about 1,300 square kilometers and spans water depths ranging from 1,250 meters to 3,300 meters in a hydrocarbon-bearing region along the Atlantic margin, Eni said.Eni said the award supports its strategy of building a geographically diversified exploration portfolio across proven, emerging and frontier regions with significant resource potential.Price: $53.80, Change: $-0.61, Percent Change: -1.12%

$E

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