Eni SpA (E) signed a binding agreement to divest its Nikaitchuq and Oooguruk upstream offshore assets in Alaska to the United States-based private company Hilcorp. Eni had initially held a 30% interest in the Oooguruk oil field. In 2019, the company acquired the remaining stake and operatorship. In addition, Eni was already the operator with a 100% working interest in the Nikaitchuq oil field, situated 13 kilometers northeast of Oooguruk. Nikaitchuq has been in production since 2011, further strengthening E ...

A pivotal element of this strategic collaboration is the use of biofuels in trains and buses. Since July 2023, Eni and the FS Group have been testing the use of pure HVO biofuel as a replacement for diesel. This experimentation involves the latest generation of Trenitalia Blues hybrid trains operating in Calabria. The biofuel, HVOlution, produced by Enilive from renewable sources, complies with the EU RED II Directive and can significantly reduce CO2eq emissions by up to 80%, depending on the raw materials ...

Accelerating Plans for Enilive Strategic Realignment and Investment Descalzi elaborated that when the strategy was announced in March, the company was expecting to close the deal a little further ahead, but he now sees that there's a good chance of doing so by the end of this year, using the same approach as in the case of Plenitude. The planned sale of Enilive's minority stake is expected to attract substantial interest from investors looking to capitalize on the growing biofuel market. This move aligns wi ...

Conservation and Community Engagement The launch of the Great Limpopo Project by Eni and Biocarbon Partners signifies a transformative step in Mozambique's journey toward sustainable forest conservation and biodiversity protection. By integrating community involvement, financial sustainability, and innovative conservation strategies, this initiative is not only aimed to curb deforestation but also enhance the livelihoods of local populations. As the first project to receive a REDD+ license in Mozambique, it ...

Consequently, the terminal rate of the benchmark lending rate increased to 5.1% this year instead of 4.6% projected in March. The Fed kept the existing interest rate range of 5.25-5.5% intact, and, the statement regarding inflation was almost the same. Stocks in Focus Hancock Whitney is likely to meet debt obligations and sustain its capital distribution plans, given a solid liquidity position. Further, high rates will aid HWC's net interest margin (NIM) expansion. We expect NIM to rise to 3.39% this year. ...

The transaction was initiated through an accelerated book-building procedure, a swift method often used to sell shares quickly to institutional investors. Eni's divestment is part of a broader strategy to reduce debt and concentrate on its core operations. In midMarch, the company outlined plans to generate €8 billion ($8.59 billion) in net proceeds from asset sales by 2027 as part of its financial restructuring and strategic refocus. The final terms of the transaction will be disclosed upon the completion ...

The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $5.15 and $4.48, respectively. The partnership has witnessed upward earnings estimate revisions for 2025 in the past seven days. Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score ...

Eni SpA's (E) mobility transformation company, Enilive Iberia, a subsidiary of Enilive in the Iberian Peninsula, has successfully acquired 100% of the shares of Atenoil, a prominent company in the service station sector. This strategic move, approved by relevant authorities, significantly expands Enilive Iberia's network. The acquisition includes 21 service stations located in Madrid, Andalusia and Castilla-La Mancha, increasing Enilive Iberia's total network in Spain to 38 stations. This expansion not only ...

Eni SPA (E) has announced the finalization of its expansive share repurchase program for 2024, setting aside a substantial €1.6 billion ($1.7 billion) with a potential expansion of up to €3.5 billion ($3.8 billion). The initiative is planned to be completed by April 2025, illustrating Eni's commitment to enhancing shareholder value. As part of the initial phase of the buyback, Eni will acquire up to 6.4 million of its shares, representing 0.2% of its share capital. This first tranche, valued at a maximum of ...

Eni SpA (E) , a prominent player in the Italian energy sector, is considering the sale of a 20% stake in its Enilive biorefining unit, following a display of interest from potential buyers, per a Bloomberg report on Wednesday. The discussions are still in the preliminary stages, and Eni is evaluating various options for the unit, which has an estimated value of €10 billion. Enilive's Operations and Financial Performance The Enilive business includes biorefining and biomethane assets, along with mobility sol ...