ENI.BR - Eni S.p.A.

Brussels - Brussels Delayed price. Currency in EUR
0.00 (0.00%)
As of 12:39PM CEST. Market open.
Stock chart is not supported by your current browser
Previous close9.45
Bid0.00 x 0
Ask0.00 x 0
Day's range9.45 - 9.48
52-week range6.37 - 16.10
Avg. volume2,577
Market cap33.507B
Beta (5Y monthly)0.84
PE ratio (TTM)236.25
Earnings dateN/A
Forward dividend & yield0.86 (9.53%)
Ex-dividend date23 Sep 2019
1y target estN/A
  • Should You Worry About Eni S.p.A.'s (BIT:ENI) CEO Pay?
    Simply Wall St.

    Should You Worry About Eni S.p.A.'s (BIT:ENI) CEO Pay?

    Claudio Descalzi has been the CEO of Eni S.p.A. (BIT:ENI) since 2017. This report will, first, examine the CEO...

  • Reuters - UK Focus

    LIVE MARKETS-Mass U.S. layoffs meet placid market reaction

    * U.S. weekly jobless claims surge to record 3.28m Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London. Initial claims for unemployment benefits rose to 3.28 million last week, that's close to 5 times more than in 1982, and over 3 times more than the Reuters consensus.

  • Eni (E) Revises 2020 Capex Downward on Oil Price Weakness

    Eni (E) Revises 2020 Capex Downward on Oil Price Weakness

    With downward revision of capital budget, Eni (E) expects production volumes to decline year over year in 2020.

  • Reuters - UK Focus

    LIVE MARKETS-Bracing for "gargoylesque" U.S. job data

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London. You know you're in a heavy news cycle when a 2 trillion U.S. stimulus package is yesterday's news. Yep, all eyes now are on the U.S. job data to be released at 12h30 GMT.

  • Oil & Gas Stock Roundup: More E&P Companies Cut Capital Spending

    Oil & Gas Stock Roundup: More E&P Companies Cut Capital Spending

    Even the 'Big Oil' companies don's seem to be immune to this price crash as evidenced by spending cuts by supermajors Royal Dutch Shell (RDS.A) and TOTAL S.A. (TOT).

  • Reuters - UK Focus

    Italy to bolster special powers in strategic assets - officials

    Italy is close to approving measures to bolster the special powers it has over key industries to ward off unwanted foreign interest, officials said on Sunday. Since Feb. 23, when Rome imposed the first set of measures to contain the coronavirus outbreak, Milan's all-share stock index has fallen more than 35%. On Saturday, Italy recorded a jump in deaths from COVID-19 of almost 800, taking the overall toll in the world's hardest-hit country to almost 5,000.

  • Eni (E) Withdraws Share Repurchase Plan Amid Crude Oil Plunge

    Eni (E) Withdraws Share Repurchase Plan Amid Crude Oil Plunge

    Eni (E) says it will reconsider the stock buyback program once the Brent crude price recovers to at least $60 per barrel.

  • Reuters - UK Focus

    Eni to cut spending and buyback plans due to coronavirus fears

    Italian energy group Eni followed rivals on Wednesday by cancelling a share buyback and sharply cutting investments as a result of the coronavirus outbreak and falling oil prices. "Eni's priorities at the moment are safeguarding the health of our people and the communities we operate in, as well as our robust balance sheet and the dividend," Eni CEO Claudio Descalzi said in a statement. Oil prices plunged on Wednesday after Goldman Sachs said lockdowns to counter the coronavirus pandemic raised the prospect of the steepest ever annual fall in oil demand.

  • Oilprice.com

    The Harsh Truth About Emissions Reduction

    Oil supermajor Eni surprised the world with an ambitious plan to reduce carbon emissions, but there’s a harsh truth that environmentalists need to realize

  • Reuters - UK Focus

    Shell reports 41% rise in onshore Nigeria oil spills due to sabotage

    Royal Dutch Shell's onshore Nigeria subsidiary saw a 41% rise in the number of crude oil spills due to theft or pipeline sabotage in 2019, the group said in its annual report. Shell Petroleum Development Company of Nigeria (SPDC) also recorded a rise in the volume of oil spilt in the Niger Delta as a result of illegal activity to 2,000 tonnes in 2019 from 1,600 tonnes a year earlier. Of a total 164 SPDC spills of more than 100 kilograms in the delta, 157 were due to theft and sabotage, Shell said.

  • The Oil Crisis Is Even Worse News for Shell and BP

    The Oil Crisis Is Even Worse News for Shell and BP

    (Bloomberg Opinion) -- The collapse in crude prices has brought into relief the correlation between oil majors’ financial leverage and the valuation of their shares. It’s a relationship that looks like particularly bad news for the bigger European firms.Investors’ knee-jerk reaction to the downward lurch in the oil price was, naturally, more severe toward the companies that were more indebted. So shares in BP Plc, Royal Dutch Shell Plc, Equinor ASA and Eni SpA suffered more than Total SA and the two big U.S. majors, Exxon Mobil Corp. and Chevron Corp., when European markets closed on Monday.Investors’ worries about leverage are longstanding. The top five European oil majors have a ratio of net debt to total capital — a leverage measure known as gearing — averaging 28% based on their 2019 annual results. Meanwhile, Exxon and Chevron were at 20% and 15%, respectively, at the full year, according to Bloomberg data. Valuations based on forward earnings have historically been lower in Europe than in the U.S., and analysts have suggested that leverage may help explain why investors rate the European sector less favorably. As research from UBS Group AG noted ahead of Monday’s sell-off, balance-sheet strength would define which oil majors got “less badly hurt” in a market where there would be no winners.Despite these dynamics, the most levered of the European groups have been making relatively slow progress at debt reduction, and the latest crisis is only going to hamper this further. BP and Shell’s gearing is already above their own near-term targets of 20%- 30% and 25% respectively. These targets assumed a different environment, and preventing gearing going back up would require some painful compromises around uses of cash.Shell’s free cash flow in 2019 was only just enough to cover its dividends and debt interest, adjusting for working capital and excluding what it made selling assets. That was with oil prices in the $55-$70 per barrel range, against around $37 now. Capex was also already below the company’s stated floor, and the group has just gone through a colossal efficiency program following the 2016 acquisition of BG Group. As for debt reduction, this is a terrible market in which to be selling assets. True, Shell could scrap its share buyback program, but that would halt progress on reducing the share count and in turn the absolute cost of the dividend.BP, on the other hand, provocatively raised its dividend last month, anticipating cash from recently agreed-on disposals and from the sale of a putative $5 billion worth of assets yet to find buyers. But the number put on that fresh divestment program must now be in doubt.The oil crisis should force a fresh appraisal of gearing targets and dividend levels. But investors crave the income, and the pressure to maintain payouts will be immense. The firms with lower leverage may feel they have earned the right to let borrowings tick up as a way of maintaining investment and cash to shareholders. For others, Shell in particular, the room for maneuver is more limited. Defending the dividend is likely to mean finding more costs and capital expenditure to cut, just when investing in the energy transition is the top strategic priority.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Nicole Torres at ntorres51@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    Big oil faces 'survival mode' payout strategies as prices dive

    An oil price plunge means the world's top energy companies will have to review promises to return billions to investors, either by slowing down share buybacks or reintroducing non-cash dividends, analysts said on Monday. Brent crude was trading at around $36 a barrel, down around 20% by 1645 GMT on Monday, when analysts lowered share price forecasts for top oil and gas producers. The slide is expected to force a rethink of spending plans by boards that had cut costs in response to a 2014 oil downturn when OPEC opened wide the oil taps to try to protect market share following the U.S. shale oil revolution.

  • Bloomberg

    Exxon, Shell Face Uphill Legal Battle Over Soured Nigerian Deal

    (Bloomberg) -- Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.The companies accused the Nigerian National Petroleum Corp. of taking more crude than it was entitled to under four deals that were signed in 1993 to incentivise them to develop deep offshore blocks. Those projects today account for about 30% of the country’s 2 million barrels of daily output.Independent arbitration tribunals seated in Nigeria sided with the companies and awarded them damages. But the NNPC successfully challenged the awards in the Nigerian courts, which ruled the disagreements were either tax disputes and not subject to arbitration, or the tribunals had no right to impose the penalties.In September last year, the U.S. District Court for the Southern District of New York dismissed a lawsuit filed by Exxon and Shell units that aimed at enforcing a 2011 arbitration ruling requiring NNPC to pay them $1.8 billion for a contractual breach. Judge William Pauley noted that the companies had multiple appeals pending in Nigeria.‘No Justice’The companies have appealed the U.S. judgment, saying the Nigerian courts denied them due process by annulling the award and they are now owed $2.7 billion with accrued interest.The case was filed in the U.S. because Nigeria’s courts have never ordered NNPC to pay monetary damages to a foreign plaintiff over two decades and lack “the political independence to render impartial judgments in a high-value dispute,” the companies said in a court filing. It could take at least a decade for Nigeria’s Supreme Court to adjudicate in the appeals process, “which renders the prospect of justice so illusory as to amount to no justice at all,” they said.Umar Gwandu, a spokesman for Justice Minister Abubakar Malami, didn’t respond to a request for comment. NNPC must file its response to the U.S. appeal by April 10.The companies “face a formidable challenge” to persuade a U.S. judge to reinstate damages already set aside by a Nigerian court, said Tafadzwa Pasipanodya, a Washington-based partner in Foley Hoag LLP’s international litigation and arbitration department.Read more about another legal dispute has with the oil majors. Separate tribunals in Nigeria instructed NNPC to pay a Shell-led consortium $1.4 billion in damages in 2013, and Eni SpA more than $500 million the following year, while Chevron Corp. and Equinor ASA secured a $1 billion award in 2015. Those awards were also set aside by the local courts.Chevron and Equinor initiated their own proceedings in the Southern District of New York in March 2018 to enforce their award, with oral argument scheduled to be heard on April 20. Eni approached the same court in mid-2017, but suspended its legal action in November while Nigeria’s Federal High Court considers the matter.While U.S. courts can enforce arbitration awards made and subsequently overturned in other countries, they “apply a strong presumption in favor of following the foreign court’s ruling,” according to Jonathan Blackman, New York-based senior counsel at Cleary Gottlieb Steen & Hamilton LLP.The parties must show the decisions of the Nigerian judiciary were “repugnant to basic U.S. principles of justice and fairness or due process,” he said. “This is a difficult -- but not impossible -- standard to meet.”Industry SupportThe case brought by Exxon and Shell meets that threshold, according to the American Petroleum Institute, which filed a brief in support of the companies’ appeal. The conduct of Nigeria’s courts “runs contrary to central concepts of justice in the United States,” it said.Spokesmen for Exxon, Chevron and Equinor said their companies don’t comment on ongoing litigation. Representatives of Shell, Eni and NNPC didn’t respond to requests for comment.There is an example of an arbitration decision that went against Nigeria being enforced in the U.K., which threatens to put further strain on the nation’s already stretched finances.In September, a British judge ruled that Process & Industrial Developments Ltd. can collect on a compensation award for losses incurred on an aborted gas-processing project in Nigeria -- a claim that now stands at $9.6 billion, or more than a quarter of the nation’s foreign reserves. Nigeria’s government, which is appealing that ruling, alleges the company paid bribes to secure the contract. P&ID denies any wrongdoing.Read more about the U.K case. To contact the reporter on this story: William Clowes in Kinshasa at wclowes@bloomberg.netTo contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, Mike CohenFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    U.S. oil boom vs Europe's renewables focus? Big Oil's gap widens -- in words

    NEW YORK/LONDON, March 5 (Reuters) - Exxon and Chevron boasted to investors this week about booming U.S. oil production, illustrating how the gap has widened - at least in words - between top American oil and gas companies and their European rivals over efforts to transition to clean energy and fight climate change. U.S.-based Exxon Mobil and Chevron this week focused their investor outlooks on sharp growth in oil and gas output, a stark contrast from their European rivals including BP and Italy's Eni which last month unveiled plans to trim their traditional business and reduce greenhouse gas emissions.

  • Eni (E) Earnings Miss Estimates in Q4, Revenues Fall Y/Y

    Eni (E) Earnings Miss Estimates in Q4, Revenues Fall Y/Y

    Lower average realized prices of liquids and natural gas hurt Eni's (E) Q4 earnings.

  • Reuters

    Venezuela's oil exports rose 9% ahead of wind-down expiration date -data

    Venezuela's oil exports rose 9% in February from the previous month, as some buyers rushed to take cargoes ahead of the expiration of a wind-down period as part of new U.S. sanctions on PDVSA and its trade partners, data from the state-run firm and Refinitiv Eikon showed. Washington imposed tough sanctions on PDVSA in 2019 and launched a strategy of "maximum pressure" this year to oust Venezuela's President, Nicolas Maduro, extending sanctions to PDVSA's main trade partner, Rosneft Trading, while making threats on other customers. Prior to sanctions, the United States was the biggest buyer of Venezuela's oil.

  • Are Eni S.p.A.’s (BIT:ENI) Returns On Investment Worth Your While?
    Simply Wall St.

    Are Eni S.p.A.’s (BIT:ENI) Returns On Investment Worth Your While?

    Today we'll evaluate Eni S.p.A. (BIT:ENI) to determine whether it could have potential as an investment idea. In...

  • Reuters - UK Focus

    No reform, no cash: majors hold out for new Nigerian oil law

    A Nigerian oil reform two decades in the making is urgently needed to get money into its energy sector, industry executives say, as tax increases and regulatory uncertainty scupper investments. Africa's largest oil exporting nation has not carried out a full revamp of the law underpinning its oil and gas sector since the 1960s. Government officials say a sweeping overhaul is imminent and will be presented to the National Assembly next week, which for industry leaders is not a moment too soon.

  • Reuters - UK Focus

    Italy's Edison starts exploratory drilling for gas in Egypt

    Italian energy group Edison has begun drilling an exploratory well in deepwater acreage in Egypt, not far from other giant east Mediterranean gas fields, the CEO of Israel-focused gas driller Energean said on Wednesday. Energean is in the process of taking over Edison's Egyptian assets in a deal reached last year. "We're drilling right now in North Thekah, a deep water exploration ... it started a couple weeks ago," Energean CEO Mathios Rigas told reporters on the sidelines of an energy conference in Cairo.

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