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12 stories mentioning ENI.MI

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Equities

Eni, Petronas Launch Indonesian-Malaysian Gas Production JV

Italian energy company Eni (ENI.MI) and Malaysian state-owned oil and gas company Petronas launched a 50/50 joint venture, Searah, after securing all regulatory, governmental, and partner approvals.Searah will have a portfolio of 19 gas-producing and development projects, including 14 in Indonesia and five in Malaysia, according to a Monday release. It will initially produce over 300,000 barrels of oil equivalent per day, with a target of more than 500,000 boe per day in the next three years.The joint venture has obtained a $6 billion revolving credit facility to support its expansion plans, which include a pipeline of projects with an expected investment of more than $20 billion over the next five years.

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Equities

Eni Secures Offshore Exploration Block Offshore The Gambia

Eni (ENI.MI) signed a petroleum exploration and development contract for the Block A1 block offshore the Republic of The Gambia, marking its entry into the nation.The license awarded to the Italian energy company covers 1,300 square kilometers at water depths of between 1,250 and 3,300 meters, according to a Friday release.

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Equities

Eni to Expand Cookstoves Production Capacity at Mozambique Facility

Eni's (ENI.MI) Eni Natural Energies Mozambique and the Instituto Superior Dom Bosco will install a new cookstoves production unit at the Salesian Vocational Training Centre in Maputo, Mozambique.The expansion project aims to increase the site's manufacturing capacity to 500 cookstoves per day from 350 previously, according to a Monday release.The cookstoves are distributed across provinces in Mozambique as part of the Italian energy company's Clean Cooking Programme in Sub-Saharan Africa.

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Equities

Eni Says Geliga-1 Gas Discovery Test in Indonesia Backs Accelerated Development Plans

Eni (ENI.MI) said Thursday a drill stem test at its offshore Geliga-1 gas discovery in Indonesia showed high deliverability, supporting accelerated development plans in the Kutei Basin.The Italian oil and gas company noted that the reservoir flowed at rates of up to 60 million standard cubic feet per day during testing, constrained by rig facilities, with limited pressure drawdown.The test showed that the Geliga‑1 well can sustainably produce about 200 million standard cubic feet per day of gas and around 10,000 barrels per day of condensate.

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Equities

Berenberg Keeps Hold Rating as Eni Ups FY26 Guidance After Q1 Miss

Eni (ENI.MI) logged a weaker-than-expected first quarter but guided for improved conditions for the full year, which Berenberg dissected in a note published Wednesday.The Italian oil and gas company is rated hold with a price target of 22 euros.The research firm noted that first-quarter adjusted EBIT was 11% lower than consensus, while the 20% jump in full-year operating cash flow expectations and a 90% surge in its share buyback guidance were supported by higher commodity prices.However, expected lower results from Eni's downstream and global gas and LNG portfolio prompted analysts to cut their adjusted EPS projection for 2026 by 0.9%, and raise it by 1.1% and 1.5%, respectively, for 2027 and 2028."Eni has had an exceptional start to the year from an exploration standpoint ... Shareholder returns remain attractive, in our view, with a dividend yield of 4.4% and a buyback of around 4.2%, but after exceptional recent performance, we see better value elsewhere in the sector," analysts said.

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Equities

Eni Boosts Buyback, Cash Flow Guidance Amid Sustained Operational Growth Expectations in 2026

Eni (ENI.MI) significantly increased its proposed share buyback and lifted its cash flow guidance by 20% for 2026, supported by "strong" underlying financial performance in the first quarter amid energy market disruptions and volatility in commodity prices.The Italian energy group on Friday reported a total revenue of 20.06 billion euros for the three months ended March 31, up from 19.19 billion euros a year before. Sales from operations also rose over the period to 22.96 billion euros from 22.57 billion euros.Adjusted net profit attributable to shareholders, on the other hand, declined to 1.30 billion euros from 1.41 billion euros, weighed down by a lower tax rate due to a better geographical mix of profits before taxes in the exploration and production segment.Analysts at RBC Capital Markets described Eni's first-quarter results as "mixed" but noted the group's continued operational momentum."Looking forward, thanks to our high-quality and diversified asset portfolio, providing us with significant flexibility, E&P low breakeven prices and resilient financial structure, with gearing at historic lows, we are uniquely positioned to capture scenario improvements and to share expected upside with shareholders," Chief Executive Officer Claudio Descalzi said in an earnings release. "Our new cash flow guidance of EUR13.8 bln at a revised scenario for the FY '26 reflects this and will translate into an expanded buyback program of EUR2.8 bln, almost a 90% increase vs the original plan."In terms of dividends, the group confirmed its planned dividend of 1.10 euros per share for 2026, up 5% from the previous year. It also expects to see continued operational growth and cash flow generation during the current financial year."Eni has raised its [Global Gas & LNG Portfolio] guidance today to EUR1.3bn, a 30% uplift from its original guidance. Given gas market dynamics, we think this is largely expected, however Eni has a history of multiple nudges up in guidance through the year, and so we think investors will start to anticipate another uplift if the situation in the Middle East persists and gas markets stay volatile," the research firm said.Eni's shares were trading almost 1% higher in Milan as of midday Friday.

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Equities

Eni Posts Lower Q1 Attributable Net Profit; Revenue Up

Eni (ENI.MI) said Friday its attributable net profit for the first quarter fell, while total revenue rose year over year.Net profit attributable to shareholders for the three months ended March 31 was 1.07 billion euros, compared with 1.17 billion euros earlier. EPS moved to 0.34 euro from 0.36 euro.The Italian oil and gas company's total revenue was 20.06 billion euros, compared with 19.19 billion euros a year ago.Eni confirmed its 2026 dividend target of 1.10 euros per share, up 5% from 2025.

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Research

Morningstar Upgrades Eni to Hold Rating, Boosts PT

Morningstar on Wednesday upgraded Italian energy company Eni (ENI.MI) to hold from sell and raised its price target to 20.90 euros from 16.30 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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US Markets

Eni Discovers Gas at Exploration Well Offshore Indonesia, Mulls Accelerated Development Options

Eni (ENI.MI) is considering accelerated development options after declaring a "giant" gas discovery at its Geliga‑1 exploration well offshore Indonesia, according to a Monday release.Located in Eni's 82%-owned Ganal block in the Kutei Basin, the well was drilled to a total depth of 5,100 meters. Based on initial estimates, the Italian energy company found in-place resources of 5 trillion cubic feet of gas and 300 million barrels of condensate in the Miocene interval.Eni scheduled a drill stem test to gauge the productivity of the reservoir. Given Geliga‑1's proximity to existing and planned infrastructures, Eni anticipates potential synergies in terms of time‑to‑market and cost optimization.Additionally, the latest finding sits next to the Gula gas discovery, which is not yet developed but has 2 tcf of gas and 75 million barrels of condensate in place. Combined, the Geliga and Gula resources offer the possibility of a third production hub in the Kutei Basin with the capacity to produce 1 billion standard cubic feet per day of gas and 80,000 barrels per day of condensate, according to preliminary evaluations.Moving ahead, the Geliga discovery boosts the value of its planned valorization of a 10% stake in the Eni Indonesia portfolio to a third party in 2026. Besides the sale, the Ganal production sharing contract is part of a 19-block portfolio that will be transferred to Searah, a company jointly controlled by Eni and and Malaysia-based oil giant Petronas.In the Kutei Basin, Eni will drill another well in 2026 and two wells in 2027, after completing drilling of four other exploration wells over the past six months.Eni shares gained over 3% in Milan, Italy, at midday Monday.

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Equities

Saipem Bags EUR700 Million Contract with Eni for Biorefinery Project in Italy

Saipem (SPM.MI) secured a contract worth 700 million euros to provide engineering, procurement, and construction services for a new biorefinery project in Sicily, Italy.The Italian energy company's Eni Industrial Evolution subsidiary is commissioning the Priolo biorefinery project, according to a Monday release. The development will feature a new plant that will produce sustainable bio-jet fuel and hydrotreated vegetable oil diesel.The Italian oilfield services company expects to complete works under the contract by the end of 2028.

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Equities

Market Chatter: Kazakhstan Court Said to Uphold Environmental Fine on Oil Majors Over Kashagan Field

A court in Kazakhstan upheld a 2.36 trillion-Kazakhstani-tenge environmental fine imposed on the operator of Kazakhstan's Kashagan oilfield for storing excessive amounts of sulfur at the site in an April 8 ruling, Bloomberg News reported Friday.North Caspian Operating Co, the field's operator, is jointly owned by Kazakhstan's KazMunayGas, Eni (ENI.MI), Shell (SHEL.L, SHELL.AS), ExxonMobil (XONA.F), TotalEnergies (TTE.PA, TTE.L, TTE.BR), China National Petroleum Corp., or CNPC, and Inpex.People familiar with the matter said the venture can still pursue a cassation appeal even if the decision has entered into legal force, the report noted.KazMunayGas, Eni, Shell, ExxonMobil, TotalEnergies, CNPC, and Inpex did not immediately respond to requests 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.)

$ENI.MI$SHEL.L$SHELL.AS$TTE.BR$TTE.L$TTE.PA$XONA.F
Research

BNP Paribas Upgrades Eni to Outperform, Boosts PT

BNP Paribas on Friday upgraded Italian energy company Eni (ENI.MI) to outperform from neutral and raised its price target to 27.50 euros from 16 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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