Eni S.p.A.

European Equities Traded in the US as American Depositary Receipts Sharply Higher in Friday Trading

European equities traded in the US as American depositary receipts were climbing higher late Friday morning, rising 1.06% to 1,840.68 on the S&P Europe Select ADR Index, which has gained 1.42% for the week.From continental Europe, the gainers were led by lender Banco Santander (SAN) and software firm SAP (SAP), which advanced 5.3% and 4.2%, respectively. They were followed by healthcare tech company Royal Philips (PHG) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which increased 4.1% each.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which dropped 9% and 7.4%, respectively. They were followed by telecommunications company Ericsson (ERIC) and medical device maker EDAP TMS (EDAP), which lost 6.2% and 3.6%, respectively.The gainers from the UK were led by cruise line operator Carnival (CUK) and biopharmaceutical company NuCana (NCNA), which rose 9.3% and 7.1%, respectively. They were followed by hospitality company InterContinental Hotels Group (IHG) and lender Barclays (BCS), which were up 4.7% and 4.6%, respectively.The decliners from the UK and Ireland were led by oil and gas companies BP (BP) and Shell (SHEL), which fell 8.1% and 5.2%, respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biotech firm Trinity Biotech (TRIB), which were down 2.7% and 2.6%, respectively.

Sector Update: Energy Stocks Lower Pre-Bell Friday

Energy stocks were mostly lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining 4%.The United States Oil Fund (USO) was down 9.4%, while the United States Natural Gas Fund (UNG) was 1.4% higher.Front-month US West Texas Intermediate crude oil was down 11% to $84.67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 9.6% to $09.10 per barrel, and natural gas futures were 0.3% higher at $2.64 per 1 million British Thermal Units.An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg News reported Friday.Shell shares fell 4.7% premarket, while Exxon stock was down more than 4% before the opening bell.TotalEnergies stock fell 4.2%, and Eni was down 5.7%.

Kazakhstan Court Upholds $5 Billion Kashagan Sulfur Fine Against Consortium Including Exxon, Shell, TotalEnergies

An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include KazMunayGas, Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), Eni (E), Inpex and China National Petroleum, Bloomberg reported Friday.Kazakhstan's Ministry of Ecology and Natural Resources told Bloomberg that the April 8 ruling confirmed penalties tied to excessive sulfur storage at the field. The decision has entered into legal force, the report said.The penalty is tied to a wider $166 billion arbitration dispute over environmental claims and state revenue from the project, the report added. Kashagan remains central to Europe's supply shift away from Russian energy after Russia's invasion of Ukraine, it said.Exxon Mobil, Shell, TotalEnergies, Eni, Inpex and China National Petroleum did not immediately respond to' request for comment.

BNP Paribas Upgrades Eni to Outperform From Neutral, Adjusts Price Target to $64.30 From $37.50

30 Major E&P Companies Staring at 40% Output Decline by 2040, Wood Mackenzie says

About 30 of the world's largest exploration and production companies are staring at a near 40% decline in output between 2025 and 2040, Wood Mackenzie said in a note on Thursday."The upstream industry has an enormous and ongoing challenge. For liquids alone, today's onstream fields will fall short by 300 billion barrels of the almost 1,000 billion barrels needed to meet the cumulative demand through 2050 under our base case, absent reserve upgrades," Wood Mackenzie analysts said.Exploration can help generate value through discovery of advantaged barrels to replace higher-cost or otherwise disadvantaged resources, either oil or gas, the researchers said.Between 2021 and 2025, the upstream industry created about $54 billion of value after the deduction of $97 billion in exploration spends, when considering a long-term Brent crude price of $65 a barrel. The figure rises to $120 billion when Brent is considered at $85/bbl, according to the note.During the same period, the industry spend on exploration has been largely stable, with an annual average expenditure of $19 billion on 633 wells. In 2025 though, the average spend dropped to $16 billion on 388 wells, which Wood Mackenzie said was "an aberration"."The resilience of investment reflects the long-term nature of the sharp end of the upstream value chain and is despite a near-doubling of rig day rates, which comprise a substantial part of well costs," analysts said.The ultra-deepwater frontier plays in water depths of more than 1,500 metres are providing the most opportunities in high value creation but only a handful of companies, including the seven energy majors and a few national oil companies, have exhibited the risk appetite and skills to operate such assets, the note said.Among the major such discoveries over the past five years include those by ExxonMobil (XOM) in Guyana, Eni (E) in Cote d'Ivoire, Indonesia and Cyprus; BP in Brazil, and Turkey's TPAO in the Black Sea."Frontier explorers are widening the net to underexplored basins, including Brazil's Foz do Amazonas, as well as extensions of existing plays in Angola, Suriname and elsewhere," the note added.

Var Energi Seeks to Boost Goliat Output, Extend Field Life to 2050

Eni (E) subsidiary, Var Energi, said Wednesday it had submitted revised development plans to Norwegian authorities to increase oil production and extend the lifespan of its Goliat field in the Barents Sea.The energy firm, alongside partner Equinor, filed an amended Plan for Development and Operation for the Goliat Gas Export project with the Ministry of Petroleum and Energy.The project is designed to increase oil recovery by optimizing reservoir management once the gas currently reinjected into the field is produced and exported.Var Energi said incremental oil volumes will be sold immediately, while gas will be sent to the Hammerfest LNG plant under a gas bank arrangement tied to the Snohvit development, and marketed when processing capacity becomes available.The company said the development targets 112 million barrels of oil equivalent in proved and probable reserves, of which about 15% is oil. First production is expected in Q3 2029.Torger Rod, chief operating officer at Var Energi, said the project would extend Goliat's operational life by about a decade to 2050, while supporting future developments in the Barents Sea."This is an effective, value-creating project with significant upside. The project expands the infrastructure in the Barents Sea and unlocks future developments," Rod said.The plan includes new subsea infrastructure linking the Goliat floating production, storage and offloading vessel to the Snohvit pipeline system. The scope covers a gas riser, an umbilical, and a 12-kilometer export pipeline, alongside modifications to the FPSO to integrate the new facilities.The GGE project is also expected to enable additional tie-ins, including the planned Goliat Ridge development.Total investment is estimated at $360 million before tax, with Var Energi's share at $233 million. The company said the project meets its breakeven targets and offers upside through further optimization.Var Energi holds a 65% operating stake in the license, with Equinor owning the remaining 35%.Price: $54.99, Change: $-0.41, Percent Change: -0.73%

Eni Hosts Iraq Methane Initiative as Emissions Drop 40% at Zubair Field

Eni (E) said Tuesday it hosted Iraqi stakeholders in Basra to advance methane monitoring, as emissions cuts at the Zubair field reached about 40%.The company brought together officials from Iraq's oil and environment ministries, national oil companies, and representatives of the Clean Air Task Force for a technical knowledge-sharing initiative.The effort supports Iraq's emissions strategy following its 2021 Global Methane Pledge commitment to cut methane output by 30% by 2030, the company said.Eni said it is also working with local partners under the Oil and Gas Methane Partnership 2.0, a United Nations-backed program focused on tracking and reducing emissions.The program included a field session at the Zubair Initial Production Facility using optical gas imaging tools to detect, record, and manage methane emissions data.The practical demonstration highlighted the benefits of transferring technical skills to Iraqi professionals supporting national oil companies in emissions monitoring, the company added.Eni, lead contractor at the Zubair field for Basrah Oil, is working with local partners to reduce greenhouse gas emissions, focusing on methane and gas flaring, Eni said.The company is targeting zero routine flaring at Zubair by 2027 while continuing its leak detection and repair campaign introduced between 2022 and 2024.Implementation of the LDAR campaign reduced fugitive emissions by about 40% in 2025 compared with the previous year, according to the company.Zubair became the first Iraqi field to consistently apply the LDAR program, attracting support from international groups helping develop national emissions guidelines, Eni said.Price: $55.20, Change: $-0.81, Percent Change: -1.46%

European Equities Traded in the US as ADRs Rise in Tuesday Trading

European equities traded in the US as American depositary receipts rose late Tuesday morning with the S&P Europe Select ADR Index gaining 0.3% to 1,844.78.From continental Europe, the gainers were led by biopharmaceutical company Grifols (GRFS) and internet browser company Opera (OPRA), which rose 3.1% and 2.9%, respectively. They were followed by pharmaceutical company Novo Nordisk (NVO) and semiconductor company Sequans Communications (SQNS), which were up 2.3% and 1.6%, respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and biotech firm Evaxion (EVAX), which fell 2.5% and 1.2%, respectively. They were followed by oil and gas company Eni (E) and pharmaceutical company Ascendis Pharma (ASND), which were down 1% and 0.5%, respectively.The gainers from the UK were led by biopharmaceutical companies Bicycle Therapeutics (BCYC) and Biodexa Pharmaceuticals (BDRX), which advanced 6.2% and 4.2%, respectively. They were followed by biopharmaceutical company NuCana (NCNA) and cruise line operator Carnival (CUK), which increased 3.4% and 3%, respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and pharmaceutical company Silence Therapeutics (SLN), which dropped 1.7% and 1.5%, respectively. They were followed by tobacco company British American Tobacco (BTI) and oil and gas company Shell (SHEL), which were off 1.4% and 1.1%, respectively.

Italy PM Reportedly Says Too Early to Consider Russian Gas as Alternative

Italian Prime Minister Giorgia Meloni on Tuesday said it was too soon to consider the return of Russian gas, notwithstanding the ongoing energy supply shocks amid the Middle East crisis, multiple media outlets reported.Addressing reporters in Verona, Meloni said exertion of economic pressure on Russia was the strongest weapon to bring peace in Ukraine and hoped that considerable progress towards achieving that goal would have been made by January 2027, when the problem is expected to become real, Bloomberg reported."We must be very careful in how we move from this point of view," Meloni reportedly said. "It's too early to talk about this dynamic."Meloni's statements were in response to comments by energy major Eni's (E) chief executive officer Claudio Descalzi on Sunday, who advocated suspending the proposed ban on imports of liquefied natural gas from Russia.Italy's PM office did not immediately respond to' request for comment.Italy relies heavily on gas for its energy needs, and the ongoing energy supply crisis and the effective closure of the Strait of Hormuz due to the Iran war have hit the country hard, pressuring its energy situation, already strained by the Ukraine conflict, the report said.Price: $55.30, Change: $-0.71, Percent Change: -1.27%

Eni Unit Plenitude Closes $586 Million ACEA Deal, Adds 1.2 Million Customers

Eni (E) said Friday its unit Plenitude completed a roughly 500 million euro ($586 million) acquisition, adding about 1.2 million customers.Plenitude, a subsidiary of Eni, finalized the purchase of full ownership in Acea Energia and a 50% stake in Umbria Energy, completing a transaction previously cleared by regulators.The deal transfers around 1.2 million customers to Plenitude, though vulnerable electricity users were excluded and will remain under ACEA.The total consideration is approximately 500 million euros, based on an enterprise value of 448 million euros, adjusted for the cash position as of Dec. 31, 2024, along with other agreed financial adjustments.The structure also includes dividend-related adjustments of about 82 million euros paid to ACEA, as well as provisions tied to transaction timing and any potential financial leakages.An additional earnout of up to 100 million euros may be paid depending on operating performance, with evaluation scheduled for completion by June 30, 2027.ACEA is an Italy-based infrastructure group focused on water, energy, and environmental services, with 116 years of operations, leading Italy's water sector and expanding internationally, while emphasizing regulated assets and sustainability-driven growth.Plenitude operates in 15+ countries with 5.8 gigawatts capacity and 11 million customers, targeting 15 gigawatts, 15 million users, and 30,000 EV charging points by 2030.Price: $56.30, Change: $+0.62, Percent Change: +1.11%

Eni Unit Plenitude Completes Acquisition of Acea Energia, Stake in Umbria Energy for $585.8 Million

Eni (E) unit Plenitude completed the acquisition of 100% of ACEA Group's Acea Energia unit and the parent's 50% stake in Umbria Energy for about 500 million euros ($585.8 million), gaining about 1.2 million customers in Italy.The purchase price was based on an enterprise value of 448 million euros, adjusted for net cash as of Dec. 31, 2024, and other standard financial adjustments, including an 82 million euro dividend distributed to ACEA, the companies said Friday in a statement.The deal, approved by regulators, includes an earn-out of up to 100 million euros, payable to ACEA if certain operating targets are met in mid-2027.Customers classified as "vulnerable" were excluded from the sale and will remain with ACEA, the companies said.Price: $56.34, Change: $+0.66, Percent Change: +1.19%

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Amid Lingering Geopolitical Uncertainty, CPI Focus

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Friday's premarket activity amid lingering geopolitical uncertainty and the release of consumer inflation data.US stock futures were mixed, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures slipping 0.04%, and Nasdaq futures gaining 0.1% before the start of regular trading.US consumer prices rose 0.9% in March, in line with expectations, compared with a 0.3% gain in the prior month.The University of Michigan's preliminary consumer sentiment index for April and the factory orders data for February are due to be released at 10 am ET.In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.3%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated marginally by 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) slipped 0.4%.Telix Pharmaceuticals (TLX) stock was up more than 9% premarket after the company said the US Food and Drug Administration accepted its resubmitted new drug application for its investigational glioma imaging agent Pixclara.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced 0.4%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.4%.Shake Shack (SHAK) shares were up more than 3% pre-bell after Mizuho upgraded the company's stock to outperform from neutral and lifted its price target to $120 from $100.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.SLM (SLM) shares were up more than 2% pre-bell. RBC cut the company's price target to $28 from $32 while maintaining its outperform rating.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.2%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.01%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.7% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% in premarket activity after the company reported higher Q1 net revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) gained 0.3% and the iShares US Industrials ETF (IYJ) was inactive.A. O. Smith Corporation (AOS) stock was up more than 1% before the opening bell after Goldman Sachs raised its price target to $61 from $69.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.Eni (E) stock was up nearly 1% before Friday's opening bell after the company said it has invested $70 million in Nouveau Monde Graphite (NMG). Nouveau stock was down 9%.CommoditiesFront-month US West Texas Intermediate crude oil gained 0.1% to reach $97.95 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.5% to $2.63 per 1 million British Thermal Units. The United States Oil Fund (USO) was down by 1.8%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for May were down by 0.6% at $4,790.50 an ounce on the Comex. Silver futures declined by 0.9% to $75.76 an ounce. SPDR Gold Shares (GLD) was 0.01% higher, and the iShares Silver Trust (SLV) advanced by 0.3%.

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

European equities traded in the US as American depositary receipts were tracking lower late Thursday morning, declining 0.48% to 1,803.06 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and pharmaceutical company Ascendis Pharma (ASND), which advanced 4% and 3.1% respectively. They were followed by oil and gas company Eni (E) and telecommunications company Nokia (NOK), which increased 3% and 0.3% respectively.The decliners from continental Europe were led by biopharmaceutical company Grifols (GRFS) and software firm SAP (SAP), which dropped 4.4% and 3.8% respectively. They were followed by internet browser company Opera (OPRA) and biopharmaceutical company Cellectis (CLLS), which lost 3% and 2.5% respectively.The gainers from the UK were led by biopharmaceutical company NuCana (NCNA) and oil and gas company BP (BP), which rose 5.5% and 2.2% respectively. They were followed by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Amarin (AMRN), which were up 1.8% and 0.5% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and pharmaceutical company Silence Therapeutics (SLN), which fell 12% and 4.3% respectively. They were followed by communications company WPP (WPP) and cruise line operator Carnival (CUK), which were down 3.7% and 3.3% respectively.