Eni

Eni signs Venezuela oil deal to recover $2.3B debt

Italian energy company Eni signed an agreement with Venezuela's state oil company PDVSA on Wednesday to develop the Junin 5 heavy oil project in the Orinoco Belt, a move analysts say improves the company's chances of recovering more than $2.3…

Eni, TotalEnergies approve Cyprus’ first gas project

Eni and TotalEnergies have reached a final investment decision to develop the Cronos gas field in deep waters offshore Cyprus, marking the Mediterranean island's first-ever gas development and a boost for European energy security at a time of strained supplies.

Eni CEO says Hormuz blockade has changed global energy outlook

Eni CEO Claudio Descalzi told Italy's Parliament on Wednesday that the renewed Iranian blockade of the Strait of Hormuz has fundamentally altered the global energy landscape, warning that current market prices do not fully reflect the severity of geopolitical risks…

Eni CEO says oil industry is pivoting to Asia, Latin America

Eni CEO Claudio Descalzi told an Italian parliamentary panel on Thursday that energy markets are failing to account for the scale of geopolitical risks reshaping global supply, as the oil and gas industry redirects capital toward Southeast Asia and Latin…

Eni CEO warns oil could break above $100 by early 2027

Claudio Descalzi, CEO of Eni, warned that the global oil market risks breaking out of its current $80-to-$100-per-barrel range by the first quarter of 2027 at the latest, a move that would boost inflation and strain energy-importing economies, according to…

Eni CEO warns energy crisis may worsen as Hormuz disruption deepens

Eni Chief Executive Officer Claudio Descalzi warned on Friday that the global energy crisis could deteriorate further in the near term, as declining oil inventories and intensifying competition for supplies put additional strain on markets already reeling from months of…

Eni, XRG each take 32% in Argentina’s Vaca Muerta LNG project

ADNOC's international investment arm XRG and Italy's Eni have each signed agreements to acquire 32% interests in three upstream blocks in Argentina's Vaca Muerta shale basin, joining state oil company YPF in advancing one of the world's largest emerging LNG…